One guess as to the two most-used words in the auto biz in the last week? No prizes for 'Chapter' and '11'. Chrysler's in it, GM is about to be in it, barring some sort of miracle over the weekend, and suppliers Visteon and Metaldyne filed for it. Not a good week, then.
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2010 Ford Mustang GT convertible
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Lee Iacocca, the car executive credited with saving Chrysler from bankruptcy in the 1980s, is to lose a big chunk of his pension and a guaranteed life-long company car due to the U.S. automaker's bankruptcy filing two decades later.
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He started as an understudy and has become an icon, and with his last taping of the Tonight Show hours away, Jay Leno has secured another car honor.
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Renault and Nissan announced plans to expand the scope of their global alliance Friday. The partners will increase their joint manufacturing operations and cooperate more on platforms, powertrains, vehicle engineering, logistics and randd activities.
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The U.S. bankruptcy judge overseeing Chrysler LLC's bankruptcy case said on Friday he would issue an opinion "sometime on Monday" on the automaker's proposed sale of most assets to a new company run by Italy's Fiat S.p.A.
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The U.S. bankruptcy judge overseeing Chrysler LLC's bankruptcy case said on Friday he would issue an opinion "sometime on Monday" on the automaker's proposed sale of most assets to a new company run by Italy's Fiat S.p.A.
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Chrysler LLC neared approval for its sale to a group led by Italy's Fiat S.p.A. after three days of testimony ended and parties shifted their attention to 350 objections from dealers and other opponents of the sale.
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Chrysler LLC hopes to end a third day of bankruptcy court hearings today with approval to sell most of its operations to a group led by Italy's Fiat, although opponents are likely file immediate appeals.
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So its the last weekend of May, and summer is upon us. Food was featured in a recent issue of AutoWeek, and its always on the menu for debate among staffers.
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Outgoing Chrysler CEO Robert Nardelli has said that entering bankruptcy, instead of liquidating, "best served" all the automaker's stakeholders.
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Lee Iacocca, credited with saving Chrysler from bankruptcy in the 1980s, is to lose a big chunk of his pension and a guaranteed life-long company car due to the US automaker's bankruptcy filing two decades later.
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The Obama administration will offer US car dealers loans of up to US$2m to help buy vehicles and maintain inventories, members of the Senate's Small Business Committee have said.
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A majority of United Auto Workers members approved a ratified agreement with General Motors on Thursday that would give the union a stake in the automaker in return for concessions, according to initial tallies.
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The Obama administration has estimated that a General Motors bankruptcy would take at least 60 to 90 days and perhaps longer to complete and is also planning an extraordinary offensive beginning on 2 June of sending senior officials to Midwest communities most affected by job losses and other aspects of GM and Chrysler bankruptcies.
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General Motors last night finalised a pre-packaged bankruptcy that would give the US government up to 72.5% and improved the offer to bondholders.
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Venezuela's National Assembly is set to outlaw profiteering in the country's auto industry next week, according to the Bolivarian News Agency.
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Chery Auto has now set up an auto finance company in an alliance with a local regional bank, becoming the first domestic carmaker to do so.
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Russia's state-owned Vnesheconombank (VEB) bank could be about to approve the financing of diesel engine projects for both Kamaz and GAZ.
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Although prices have been reduced in Japan, and one existing model carried over, Toyota GB is holding current on-the-road prices for its third generation Prius T3 and T Spirit models while boosting the specification and price of the top T4 version.
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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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