Chrysler CEO Bob Nardelli will ask Congress this week for a $7 billion bridge loan by Dec. 31 to help the automaker survive until market conditions improve. Chrysler will have about $2.
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The great-grandson of the man who founded the car-maker Chrysler in 1924 on Tuesday added his voice to the campaign to save the company, noting it also built 22,000 tanks in World War Two and rockets that put the first American on the moon.
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Audi is sticking with soft tops as it expands its popular A5 coupe family to include convertibles.
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The Detroit 3 yesterday increased their appeals for federal loans beyond the $25 billion requested in November. General Motors, Ford Motor Co. and Chrysler LLC together are asking Congress to approve loans and credit lines that total $34 billion.
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Is the smell of death keeping customers away from General Motors showrooms? You bet, says Mark LaNeve, GM's vice president of North American sales, service and marketing.
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If U.S. auto sales sink beyond Ford Motor Co.'s forecasted rate, Ford will need a federal loan to survive 2009, CEO Alan Mulally said yesterday.
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Civil rights leader Jesse Jackson wants to mobilize minority auto dealers, suppliers and media to help explain the role the Detroit 3 play in local and minority communities across the nation. Jackson has scheduled a meeting Friday in Detroit.
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With a national average of just over 1.5 children per family, full-size minivans seem rather large for daily use. In a stroke of genius, Mazda has decided to bring the minivan down to a more palatable size, one that meets a family's real needs.
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Old asphalt shingles, which are usually found on rooftops, are being given a new life in Nova Scotia: the government plans on using them to pave a road. About 20 tons of recycled asphalt shingles will be used to pave Mills Drive, in Goodwood, a Halifax Regional Municipality. This innovative recycling pilot project should cost around $180,000.
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With a national average of just over 1.5 children per family, full-size minivans seem rather large for daily use. In a stroke of genius, Mazda has decided to bring the minivan down to a more palatable size, one that meets a family's real needs.
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Ford has just submitted their business plan to the US Congress, detailing plans for future profitability and an electric car strategy. Congress asked for business plans from the ailing 'Big 3' automakers, in consideration for 'bridge financing'.
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Two-time Formula 1 World Champion Fernando Alonso has said he would consider leaving formula one if the sport enforces standard engines from 2010.
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The 15-race Indy Lights series' schedule for 2009, divided among eight ovals, four temporary street circuits and three permanent road courses, includes three new venues and the series' first two races outside of the United States.
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The contract was officially signed on Wednesday. Canadian Jacques Villeneuve, the 1997 formula 1 world champion will contest the full 2009 season of the Speedcar series this winter.
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Ford, GM and Chrysler have publicly released their business plans that have been submitted to the U.S. Government in order to seek financial aid. While Ford seems to have enough cash on hand to survive a dark-looking 2009 sales year, GM and Chrysler need extra funding immediately.
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In the grip of the global financial crisis, Honda's formula one team has cancelled its usual annual post-season media lunch.
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Having finished the 2008 MotoGP campaign at the bottom of the manufacturer standings, Kawasaki has no choice and must improve their results next season as the pressure mounts on the Japanese manufacturer's team.
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Renault's 2009 Formula 1 car, the R29, will make its test track debut on January 20, team driver Fernando Alonso said at a sponsor event on Tuesday.
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The fourth Formula BMW World Final, to be held at the Autódromo Hermanos Rodríguez in Mexico City from 5th to 7th December 2008, offers the winner a unique prize - he will get the chance of a test drive in a BMW Sauber F1 Team racing car.
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The contract was officially signed on Wednesday. Canadian Jacques Villeneuve, the 1997 formula 1 world champion will contest the full 2009 season of the Speedcar series this winter.
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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