General Motors today prepared to face the fallout from a failed debt exchange that sends the largest U.S. automaker closer to a bankruptcy filing expected by the end of the month.
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German ball bearing maker Schaeffler has struck a deal with labor to avoid forced layoffs for one year and let workers take a stake in the company in exchange for pay cuts, a top IG Metall union leader said.
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U.S. automaker Chrysler LLC said on Tuesday it submitted proposals totaling $448 million to the U.S. Department of Energy to research and develop electric vehicles and plug-in hybrid models.
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Mark McNabb, who has resigned from General Motors after 13 months, will lead Maserati North America Inc., Maserati announced today. McNabb, 48, will replace Marti Eulberg, who left the importer last month as CEO.
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The U.S. government wants to be as inactive a shareholder in General Motors as possible if it ends up taking an ownership stake during a reorganization of the automaker, sources said on Tuesday.
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General Motors agreed to spare two plants that had been targeted for closure and will resurrect them to make small cars and their metal parts, according to highlights of a tentative contract agreement with the UAW.
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General Motors said today that a crucial bond-exchange proposal failed to gain enough support and that its board of directors would meet to review the automaker's options, clearing the path for what would be the largest U.S.
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UAW officials unanimously endorsed a new cost-cutting labor agreement with General Motors on Tuesday, paving the way for a quick rank-and-file vote this week. Here are highlights of the new GM contract agreement:
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After hours of meetings, the Formula 1 teams' rules dispute with Max Mosley may have moved closer than ever to a resolution on Wednesday.
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NHRA drag racing is undoubtedly one of the most breathtaking and terrifying forms of motorsport. The stupendous view - and sound - of a Top Fuel dragster and a Funny Car that can reach 300 miles per hour in a blink of an eye is just amazing.
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The Formula One Teams Association has today decided temporarily to suspend Williams F1 from membership of FOTA.
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According to reports, the Hungarian grand prix is in doubt beyond 2012 due to a lack of central funds and the weakening of the currency.
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Another industry first from Ford Motor Company will have drivers and front-seat passengers sitting pretty for longer periods of time. Product Design Engineer, Steve Michell, says the optional innovative front seats, debuting in the 2010 Ford Taurus were specifically desgined to make long drives far less fatiguing.
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BMW had no choice but to introduce "M" versions of its SUVs. Not that the market for high-performance SUVs is very broad, but a company defined by driving pleasure can't let the likes of Mercedes-Benz, Land Rover, Porsche and even Jeep get the better of it in this province.
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"Is that one of those hybrids?" asked the guy next to me at the gas station as I topped off the Honda Insight's tank. "Yes, it is" I replied. He inspected the little eco-pod's awkwardly-shaped body for a moment, one lip half curled up. After a moment's pause, he commented "I'd never buy one of those".
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Packed up early Saturday morning and headed to Port Colborne Ontario for the first round of the CMA Hare Scrambles.
Upon arrival it was obvious that it was going to be very dusty. The course is flat, fast and rock hard clay. I had a good start and got out front early.
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David Richards says a decision about whether to submit a formula one team entry for the 2010 world championship by Friday's deadline is still yet to be taken.
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