In submitting its viability plan to the federal government on Tuesday, Chrysler asked for an additional $2 billion beyond the $7 billion in loans it sought late last year and outlined further steps to cut costs.
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General Motors is accelerating its restructuring plans for Europe and is considering "several" plant closures or spin offs. The company also says its Saab unit could file for reorganization as early as this month.
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Key Plastics LLC, a maker of plastic components for cars and trucks, has completed its prepackaged bankruptcy, the company said this week. In a statement posted on its Web site on Monday, Key Plastics said its reorganization plan took effect on Feb.
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Ford Motor Co. said late today that it had reached a tentative agreement with the UAW that will help the company avoid seeking emergency loans from the U.S. government.
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DETROIT -- In submitting a viability plan to the U.S. federal government Tuesday, Chrysler asked for an additional $2 billion beyond the $7 billion in loans it sought late last year and outlined further steps to cut costs.
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The UAW today reached tentative agreements with the Detroit 3 on concessions to help the automakers weather the recession. But the thorny issue of swapping debt owed to retiree health-care funds for company stock remains unresolved.
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Mazda North American Operations has trimmed its U.S. retail network by nearly 30 percent since 2005, CEO Jim O'Sullivan said. Mazda's U.S.
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GM asked the federal government today for an additional $16.6 billion in federal aid to help it survive. Without the new funding, the automaker could run out of money sometime in March.
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GM asked the federal government today for as much as $16.6 billion in additional federal aid to help it survive. Without the new funding, the automaker could run out of money sometime in March.
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In submitting its viability plan to the federal government today, Chrysler LLC asked for an additional $2 billion beyond the $7 billion in rescue loans it sought late last year and stepped-up cost-cutting moves to combat falling sales.
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Rinspeeds chameleon-like contraption, the iChange, does a good job of pushing the boundaries of conventional car wisdom. Its intriguing--to say the least--and now were getting more details in advance of its reveal at the Geneva motor show.
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The souring U.S. auto industry has claimed another victim: Product Action International LLC. The Indianapolis consulting firm that helps such clients as General Motors, Chrysler LLC and Toyota Motor Engineering and Manufacturing North America Inc.
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U.S. spending on machine tools and other manufacturing equipment fell by more than half in December, dragging the full-year total down 2.4 percent from 2007. Consumption of U.S.-made and imported machine tools and metalworking equipment dropped 52.
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U.S. Sen. Carl Levin said today that General Motors might need federal assistance beyond the $13.4 billion in loans already approved if vehicle sales stay at depressed levels.
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Ron Bloom, named to an Obama administration team to help overhaul the U.S. auto industry, is a seasoned labor negotiator who can close a deal with Wall Street financiers but help get workers facing a horrible reality something for their sacrifice.
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OUR TAKE: Nissan calls this new-for-2009 Maxima the return of the four-door sports car. (There's even a small 4DSC sticker in the corner of the back door).
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When the second-generation Mazda 3 hits dealerships in the spring, it will wear a base price of $15,715 (including $670 destination), which represents a $355 increase over its predecessor. Entry-level "i" models remain powered by a 2.
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GKN has announced plans to shut two facilities and consolidate its UK driveline component operations into a single centre at its existing plant at Erdington, Birmingham (UK).
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The state of Tennessee - home to Nissan's first car 'transplant' factory 15 years ago, and where it now has its US headquarters - would be one of the first locations where it would sell its new all-electric car, with a 100-mile (160km) battery range, after it arrives in late 2010, a top official at the automaker has said.
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After a 12-year run and more than 460,000 sales across two generations, Mercedes-Benz has replaced the CLK with the 2010 E-class coupe.
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With the current economy the last thing you need is for your vehicle to break down. Whether your driving a reliable car or a busted up
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