Here's a big challenge for Ford Motor Co. as it seeks federal aid: Avoid the stench of death that surrounds crosstown rivals General Motors and Chrysler LLC. Ford is losing billions of dollars, and its sales have plunged nearly 21 percent this year.
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Jari-Matti Latvala (Ford Focus) still leading Rally GB after day 2, just ahead world champion Sebastien Loeb (Citroen C4).
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Last week, the three domestic automakers headed to Washington in order to present their turnaround plans and ask for billions of dollars in loans to keep them from bankruptcy. Now, the Canadian arms of Ford, General Motors and Chrysler are asking for financial support from the federal and Ontario governments.
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Ford Motor Co. is asking Canadian governments for a $2 billion (Canadian), or $1.57 billion U.S., line of credit to tap in the event of a worsening economy.
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Democratic leaders of Congress indicated this evening they have reached agreement on a bailout plan for the Detroit 3. The accord would provide short-term loans to General Motors, Ford Motor Co.
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This time, they left the corporate jets at home and drove for hours all the way from Detroit to the steps of the US Capitol in Washington, DC. General Motors' Rick Wagoner brought the production Chevy Malibu hybrid and prototype Volt (and R&D chief Lawrence Burns), Chrysler CEO Bob Nardelli stepped out of a prototype electric Jeep and Ford's Alan Mulally came in a hybrid Escape. Then, as the Senate Banking Committee hearing came to order, they ate humble pie and encountered scepticism. Halfway through the hearings, there's still no guarantee Congress will agree to bail the Big Three out.
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This time, they left the corporate jets at home and drove for hours all the way from Detroit to the steps of the US Capitol in Washington, DC. General Motors' Rick Wagoner brought the production Chevy Malibu hybrid and prototype Volt (and R&D chief Lawrence Burns), Chrysler CEO Bob Nardelli stepped out of a prototype electric Jeep and Ford's Alan Mulally came in a hybrid Escape. Then, as the Senate Banking Committee hearing came to order, they ate humble pie and encountered sceptism. Halfway through the hearings, there's still no guarantee Congress will agree to bail the Big Three out.
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The 2008 battle for the manufacturers' championship in NASCAR's Sprint Cup started in a very unusual way last January.
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The 2008 battle for the manufacturers' championship in NASCAR's Sprint Cup started in a very unusual way last January.
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It's official: The Ford Taurus X crossover and Mercury Sable sedan will die early next year. Ford Motor Co. has notified dealers to prepare their final orders for the two vehicles before production ends in the spring.
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A Tennessee senator today drove a wedge between Chrysler LLC and its Detroit rivals General Motors and Ford Motor Co. when he charged that Chrysler is only asking for money to tide it over until it is bought by a partner.
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Ford has created a position overseeing worldwide development of performance vehicles. Jost Capito, who most recently spearheaded development of the Focus RS, will fill the post.
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Barely five months after scrapping two shifts of F-150 production, Ford Motor Co. is reversing course and is planning overtime assembly of the pickup. Ford will restore a shift of F-150 production at its suburban Kansas City, Mo.
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The United Automobile Workers union has said it will make major concessions in order help the US auto industry move forward. The announcement came after a meeting of members of UAW Ford, GM and Chrysler national councils yesterday.
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Ford Motor Co is believed to be looking to sell its Volvo subsidiary for as much as US$6bn, a report said today. That would be close to what the US giant paid for Volvo 10 years ago.
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Ford Motor is seeking to sell Volvo for as much as $6 billion, and is using JPMorgan Chase and Co as an adviser, Bloomberg reported on its Web site on Wednesday.
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You mightn't think there's much fun to be had in a new, twenty-thousand dollar vehicle- but Jeep is determined to continue changing that perception. Their Wrangler doesn't try to blow anyone's socks off with refinement, comfort or spaciousness- but it is the most affordable go-anywhere buggy on the market. Even in its most basic "X" trim with no options, it represents tremendous value for the adventurous, fun-loving and active buyer.
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President-elect Barack Obama said today that General Motors, Ford Motor Co., and Chrysler LLC have put forward "more serious" bailout proposals to Congress.
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