General Motors of Canada said it will inform its dealerships on Wednesday of which ones it will close as part of a plan to slash its retail network by nearly half, one of the steps necessary to qualify for long-term government aid.
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C. Robert Kidder, former chairman of Borden Chemical Inc. and of Duracell International Inc., will become chairman of Chrysler Group LLC after the bankrupt automaker enters an alliance with Fiat S.p.A.
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Robert Kidder, a private-equity investor and former consultant who once worked for Ford Motor Co., will become the chairman of Chrysler Group once the automaker emerges from bankruptcy and completes an alliance with Italy's Fiat S.p.A.
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As expected, Fiat has confirmed that it has submitted an offer for GM Europe's Opel and Vauxhall operations.
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As expected, Fiat has confirmed that it has submitted an offer for GM Europe's Opel and Vauxhall operations.
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Swedish carmaker Saab could get a bridge loan from the state to smooth the transition to a new owner from current parent General Motors, a spokesman for Enterprise Minister Maud Olofsson said on Wednesday.
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Chrysler dealers scheduled to shut down on June 9 say they are using all available options to get rid of new vehicles -- while they're still allowed to sell the cars to customers.
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Ssangyong has said that unionised workers at its Pyeongtaek plant have stopped work to protest against layoffs.
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AvtoVAZ has said that it is planning to cut production in June as orders continue to fall.
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Chrysler Financial is resuming discounted loan rates for Chrysler LLC vehicles, beginning with a 0 percent offer for some 2008 models.
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Personal-injury and other lawyers are warning that if they can't sue Chrysler LLC in the future, they'll go after the bankrupt automaker's dealers and suppliers.
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In today's News Brake: We see a rockin' turbo in the Scirocco; the ruling is in on Ferrari v. FIA, and the Toureg slims down...But Wait, There's More!
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In today's News Brake: We see a rockin' turbo in the Scirocco; the ruling is in on Ferrari v. the FIA, and the Touareg slims down...But Wait, There's More!
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California is planning the next stage of clean-car standards even as President Obama announces federal plans based on the state's model, its top climate change official said on Tuesday.
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Magna International aims to create a European-Russian automaker that produces up to 5 million cars a year, German daily Rheinische Post said, citing company sources.
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Fiat CEO Sergio Marchionne is convinced that a merger of Fiat Group's car business with Opel is the best chance of survival for General Motors' German subsidiary.
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RHJ International has historically invested heavily in Japan and also focused on the automotive parts sector. It has expressed an interest to diversify geographically, particularly in Europe.
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GM Canada, whose 27 April operating plan included a dealer reduction of about 42%, said it advised dealers on Wednesday "of the specifics of our network consolidation plan, including the identification of dealers whose sales and service agreement would not be renewed following expiry in October 2010".
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Cooper-Standard Holdings has reported a US$55m net loss for the first quarter, compared to net income of $15.7m for the same period of 2008, due to significantly lower sales, increased restructuring and reorganisation costs and unfavourable foreign exchange.
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Dealers who object to Chrysler LLC's termination of their franchises are using personal stories to buttress their case. The Committee of Chrysler Affected Dealers filed a motion yesterday objecting to Chrysler's proposed asset sale and asking the U.
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