Autonation Inc.'s Mike Jackson, whose dealership group has been shedding Detroit 3 franchises, said the collapse of a domestic automaker was unlikely as he "fully" expected the White House to extend bridge funding.
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DETROIT (Reuters) - - AutoNation Inc.'s Mike Jackson, CEO of the biggest U.S. dealership group, said the collapse of a domestic automaker was unlikely as he "fully" expected the White House to extend bridge funding.
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Volkswagen Group on Friday said it delivered 5.73m vehicles, up 1%, worldwide in the first 11 months of this year.
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Amid the greatest financial crisis of our time, President George W. Bush can show leadership and statesmanship by using a small percentage of the U.S. government's financial bailout money to keep the American automobile industry alive.
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Amid the greatest financial crisis of our time, President George W. Bush can show leadership and statesmanship by using a small percentage of the U.S. government's financial bailout money to keep the American automobile industry alive.
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Honda Motor Co. is slashing 119,000 more units from its North American production schedule through March 31, the end of its fiscal year. The cuts are in addition to the 56,000 units Honda removed earlier from its production schedule.
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Fox Business Networks Money for Breakfast host, Alexis Glick, asked me a question this morning that, frankly, took me aback.
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UAW President Ron Gettelfinger said today that the automaker rescue package is in the hands of President George W. Bush and the Treasury Department.
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UAW President Ron Gettelfinger said today that the automaker rescue package is in the hands of President George W. Bush and the Treasury Department.
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Hyundai Motor Co has unveiled a corporate strategy based upon raising the quality of its vehicles to combat the global economic slowdown, a report said today (12 December).
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Skoda Auto is to stop work on Fridays in the first half of next year due to falling demand, a local news agency reported.
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We are witnessing staggering hypocrisy. The U.S. Senate late last night rejected an emergency bill to rescue Detroit automakers, putting nerves on edge and heightening the prospects that General Motors and Chrysler could collapse.
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Canada must work closely with the neighbouring United States on ways to help the auto indystry restructure, a top aide to prime minister Stephen Harper has said.
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Fitch Ratings has placed seven US auto industry suppliers on a ratings watch because of the threat of the potential bankruptcy filing by General Motors. Fitch added that in its opinion a GM bankruptcy would be followed by a similar filing at Ford.
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The Bush administration, signaling a possible shift in policy, will consider using money set aside for rescue of financial institutions to make emergency loans to automakers, the White House said this morning.
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The Bush White House on Friday morning [EST] signalled a turnaround and said it would now consider using some of the US$700bn bailout earmarked for the financial services sector after the Senate on Thursday night rejected a Democrat bill to advance US$14bn in emergency loans to Detroit's Big Three automakers. Meanwhile, the US Treasury said it would prevent any automaker from collapsing.
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The Bush administration, signaling a possible shift in policy, will consider using money set aside for the rescue of financial institutions to make emergency loans to automakers, the White House said this morning.
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The Bush administration, signaling a possible shift in policy, will consider using money set aside for rescue of financial institutions to make emergency loans to automakers, the White House said this morning.
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Robert Bosch will "badly miss" its 2008 targets and expects no growth in 2009 as the global economic downturn hits home, the world's biggest automotive components supplier said on Friday.
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The unthinkable moved a notch closer last night after the United States Senate failed to pass a $14bn emergency loan package for the Detroit Big Three. While Ford should be OK for now, there is a very strong chance GM and Chrysler will fail before 2008 is out, running short of the $4bn (GM) and $7bn (Chrysler) they need this month to pay suppliers, make payroll and keep the factory doors open.
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