President Obama has confirmed that Chrysler is to enter Chapter 11 bankruptcy protection after failing to persuade its main lenders to write off debts.
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President Obama has confirmed that Chrysler is to enter Chapter 11 bankruptcy protection after failing to persuade its main lenders to write off debts.
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Belgium's Flemish government has proposed a sale and leaseback deal with General Motors that could mean a windfall of 200 million euros ($266 million) for the struggling auto company, it said in a statement on Thursday.
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Tenneco Inc. posted a first-quarter loss on Thursday as vehicle production plunged amid a deep recession. The company posted a net loss of $49 million in the quarter, compared with a profit of $6 million, a year earlier.
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Partsmaker BorgWarner Inc. reported a quarterly loss on Thursday as vehicle production plunged amid a deep recession. The company posted a first-quarter net loss of $7 million compared with earnings of $88.7 million a year earlier.
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Tenneco Inc. posted a first-quarter loss on Thursday as vehicle production plunged amid a deep recession. The company posted a net loss of $49 million in the quarter, compared with a profit of $6 million, a year earlier.
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Partsmaker BorgWarner Inc. reported a quarterly loss on Thursday as vehicle production plunged amid a deep recession. The company posted a first-quarter net loss of $7 million compared with earnings of $88.7 million a year earlier.
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A senior UK government minister is organising talks between banks and a potential buyer for van maker LDV according to a British media report.
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Avtoframos has suspended production until May 11 due to lower sales in Russia this year.
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Magna chief executive Frank Stronach has said the firm has no plans for a direct stake in Opel.
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Chrysler LLC, battered by collapsing U.S. sales and a global credit crisis, filed for bankruptcy and announced an industry-changing deal with Fiat S.p.A.
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Chrysler LLC will file for bankruptcy on Thursday after talks to restructure its debt with lenders broke down while entering an alliance with Italy's Fiat S.p.A., President Barack Obama said today.
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Chrysler LLC will proceed with Chapter 11 bankruptcy protection now that talks with debt holders have broken down, an administration official said today.
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Chrysler LLC will proceed with Chapter 11 bankruptcy protection now that talks with debt holders have broken down, an administration official said today.
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Chrysler LLC rushed to clinch a last-minute deal on Thursday to stave off collapse ahead of a midnight deadline.
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Something very important is going on. Europe knows it needs to do an Obama on its car industry, but the job is like herding cats.
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Hyundai UK says enquiries at the company's dealerships are up 400% following the government's scrappage incentive announcement last week.
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Volkswagen has taken the first Sharan mules out on the open roads...
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Warren Mayor Jim Fouts and many of the GM "Main Street" bondholders came together yesterday to launch a coalition to demand a voice in GM bankruptcy talks with the Obama Administration.
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UAW members at Chrysler have overwhelmingly approved a deal that sees Chrysler paying some of its legacy obligations to UAW members in the form of stock and therefore reducing its future liabilities on healthcare.
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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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