A United Auto Workers-aligned healthcare trust would quickly sell shares it would receive in a new Chrysler as soon as it could, union president Ron Gettelfinger has said.
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Fiat is looking at taking over General Motors' operations in Latin America as well as those in Europe and discussions on a possible deal are under way, an industry source has said.
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US light vehicle sales in April fell 34.3% to 817,287 units with car sales off 35% to 429,770 units and light trucks down 33.5% to 387,517 units. March sales fell 34.2% year on year to 855,348 units.
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Fiat plans to keep all German Opel plants open should its GM Europe takeover plans succeed but would cut the number of workers, Fiat chief executive Sergio Marchionne has said.
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The senior labor leader of General Motors' Opel unit, Klaus Franz, said Fiat's proposed takeover of GM's European business will lead to factory closures in England and Italy.
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The senior labor leader of General Motors' Opel unit, Klaus Franz, said Fiat's proposed takeover of GM's European business will lead to factory closures in England and Italy.
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The senior labor leader of General Motors' Opel unit, Klaus Franz, said Fiat's proposed takeover of GM's European business will lead to factory closures in England and Italy.
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Social cost could trip up Fiat chief executive Sergio Marchionne's plans to merge his firm with Opel, then spin off and list the merged entity.
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Chrysler has won interim approval from a US bankruptcy court to access a US$4.5bn loan as it tried to move ahead in its planned alliance with Fiat.
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Fiat chief Sergio Marchionne has outlined plans to merge Fiat, Chrysler and General Motors Europe into a new automotive group generating annual revenues of around EUR80bn and making 6-7m cars a year.
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Chrysler vice-chairman and president Tom LaSorda last week retired with immediate effect, the automaker said in a statement.
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Chrysler's Chapter 11 bankruptcy protection announcement last week may cause more supplier bankruptcies and will continue to drag down the domestic automaker's image, the Society of Automotive Analysts said.
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New-car registrations in Germany rose by 19.4 percent to nearly 380,000 units in April as motorists continued to cash in on a government incentive to scrap old cars and buy new ones.
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New-car registrations in Germany rose by 19.4 percent to nearly 380,000 units in April as motorists continued to cash in on a government incentive to scrap old cars and buy new ones.
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General Motors of Canada has signed a short-term loan agreement with Export Development Canada that, it said, would provide further flexibility in managing its normal operational needs while it works to complete its business restructuring plans in Canada.
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The German state of Lower Saxony is open to an Arab investor taking a stake in Volkswagen, state Premier Christian Wulff said on Tuesday.
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OFFICIAL: Renault confirm that new drop-top will arrive in 2010
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It's official - Citroen confirms flagship DS5! Auto Express has the best pictures...
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Chrysler LLC's car dealership network is on the verge of collapse, a U.S. bankruptcy court heard on Monday, as hundreds of dealerships have closed their doors this year and uncertainty about the company's future is driving consumers away.
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Roger Penske today confirmed reports that he has interest in General Motors' Saturn brand. But Penske, chairman of Penske Automotive Group Inc., emphasized that no offers have been made and hinted that GM's goal for a quick sale may not help a deal.
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