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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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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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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If Congress finds the Detroit 3's viability plans to be inadequate, it could dictate in law that )x("",this is how we want you to restructure, House Speaker Nancy Pelosi said today. Pelosi, D-Calif.
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In its plan to Congress submitted today, Ford Motor Co. said it expects to cut its U.S. dealership network by 266 stores in 2008. By year end, Ford estimates it will have 3,790 domestic-brand dealerships in the United States. That would be a 6.
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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 today. The loans are crucial for the survival of the domestic auto industry, Mulally told Automotive News.
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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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The General Motors of 2012 will have fewer brands and nameplates, thousands fewer dealers and employees, and much less debt on its balance sheet, under a restructuring plan GM gave Congress today.
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Designers are known to carp about their ideas being blunted when cars go from concept to reality. For Fisker Automotive's first production car, the plug-in hybrid Karma, that wasn't a problem.
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Three of Toyota Motor Corp.'s largest seat suppliers are dissolving or restructuring their U.S.-Japanese joint ventures to fulfill Toyota's desire for more competition among North American suppliers. Toyota Boshoku America Inc.
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Optimistic suggestions US light vehicle sales might have bottomed out after October's 34.5% plunge were dispelled last night after November's data was in - a 36.7% dip to just 744,037 units versus 1,175,381 a year ago.
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Ford's US sales last month fell 30.6% year on year to 123,222 units, the company reported on Tuesday night. Year to date sales were off 19.7% to 1,849,309 units. Toyota said its sales were down 34% and VW was off 19.2%.
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Designers are known to carp about their ideas being blunted when cars go from concept to reality. For Fisker Automotive's first production car, the plug-in hybrid Karma, that wasn't a problem.
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General Motors and Ford Motor Co. today said they will slash first-quarter North American vehicle production.
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Ford is slashing its first-quarter North American vehicle production by 37.9 percent. The cut of 262,000 units is a reaction to the sharp downturn in sales, a Ford spokeswoman said today.
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Sweden's government has ruled out taking over Volvo Cars if Ford decides to sell it but the opposition and unions want politicians to step in and save the country's auto industry.
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Aston Martin could soon axe up to 600 jobs at its luxury sports car plant at Gaydon in central England.
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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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