So far, General Motors has declined to identify the 1,124 dealerships scheduled to be cut off when their franchise agreements expire on Oct. 31, 2010, but the names appear to be getting out just the same.
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So far, General Motors has declined to identify the 1,124 dealerships scheduled to be cut off when their franchise agreements expire on Oct. 31, 2010, but the names appear to be getting out just the same.
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The horror! cried Kurtz. We're playing the game fairly, said Ball. If the U.S. Bankruptcy Court allows the sale of a "new Chrysler" to Italy's Fiat S.p.A.
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Japan's five top automakers made substantial worldwide output cuts in April amid the global recession, with their respective margins of year-on-year cut ranging from 29.7% to 54.3%, according to data released on Thursday.
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Italian conglomerate CIR sees no improvement in second-quarter results at its auto components unit Sogefi after a weak first quarter, CEO Rodolfo De Benedetti has said.
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In light of the need for an additional EUR300m in financing that has just been estimated for Opel, the European association of around 4,000 dealers, Euroda, has renewed its offer for dealer shareholding in a future Opel/Vauxhall corporation.
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General Motors and the US Treasury on Thursday made an improved equity exchange offer to bondholders with US$27bn (GBP16.9bn) in debt intended to pave the way for a quick bankruptcy process for the automaker. Under the proposed deal, which GM said was supported by creditors representing about 20% of its debt, bondholders would be offered 10% of a reorganised company and given warrants to purchase another 15%.
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German Foreign Minister Frank-Walter Steinmeier said on Thursday he got assurances from U.S. Secretary of State Hillary Clinton that she would push for U.S. support to find a solution for General Motors Opel unit.
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Eaton is counting on lower expenses to help the company meet its 2009 earnings guidance in the midst of a decline in demand from the automotive industry and other major markets, chairman and CEO Alexander Cutler has said.
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A US bankruptcy court is today (28 May) holding a second and possibly decisive day of hearings on Chrysler's bid for revival as a Fiat partner.
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Fiat CEO Sergio Marchionne has headed back to the United States to discuss issues concerning Chrysler, a source at the industrial group told Reuters on Thursday.
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Rallycross-adapted Fiesta with 800bhp will compete at Pike's Peak hillclimb this July
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General Motors paid about 90,000 US employees three days early this week in an effort to reassure them that their wage payments would not be affected by any bankruptcy filing, a spokesman has said.
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Metaldyne Corp. filed for Chapter 11 bankruptcy late Wednesday and plans to sell most of its assets to two private equity firms. Metaldyne, which posted revenue of about $1.
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Most powerful Evo X to date gets 397bhp and a meaner new look
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We've had our first taste of the drive system under development for General Motors' pioneering Chevrolet Volt, piloting a test mule based on the Chevrolet Cruze at the company's Warren (Mich.) Technical Center, and it left us hungering for more.
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We've had our first taste of the drive system under development for General Motors' pioneering Chevrolet Volt, piloting a test mule based on the Chevrolet Cruze at the company's Warren (Mich.) Technical Center, and it left us hungering for more.
Full story...
Most powerful Evo X to date gets 397bhp and a meaner new look
Full story...