Wednesday, July 30, 2008
GM to let workers see Volt
Sneak peek planned for automaker’s September centennial as car nears production version.
David Shepardson / Detroit News Washington Bureau
WASHINGTON — General Motors Corp. plans to show employees a near-production version of the Chevrolet Volt during the automaker’s 100th anniversary celebration in September.
GM, which will mark its centennial on [...]
GMAC reduces financing for high-risk customers
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Jamie LaReau
Automotive News | July 29, 2008 – 4:38 pm EST
DETROIT — General Motors dealers will have to put high-risk customers into less expensive vehicles or get higher down payments than in the past, now that GMAC is tightening its financing policies.
Over the past year, GMAC has tightened its [...]
GMAC, Ford pull back on leases as credit tightens
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Automotive News | July 29, 2008 – 8:00 pm EST
DETROIT (Reuters) — GMAC and Ford Motor Credit disclosed steps on Tuesday to cut back on auto leases in a move that leaves automakers facing the risk of even more pressure on auto sales already at decade lows.
The [...]
Chase to end leasing for Chrysler
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Andrew Grossman
Automotive News | July 29, 2008 – 4:33 pm EST
Chase Auto Finance said today that it will not finance leases for Chrysler LLC vehicles.
Chase was afraid auto dealers would flock to it in the wake of Chrysler Financial’s decision on Friday, July 25, to stop financing leases, said [...]
GM names new North American CFO
Joseph Peter will report to corporate CFO Ray Young
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Craig Trudell
Automotive News | July 24, 2008 – 2:36 pm EST
General Motors has named Joseph Peter CFO for North America, effective Aug. 1.
Peter, 45, will report to Ray Young, GM’s CFO, and Troy Clarke, president for North America.
“Joe brings vast experience [...]
Toyota to boost Prius output by 70%
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Automotive News | July 25, 2008 – 3:00 am EST
ENLARGE
Toyota Prius hybrid
TOKYO (Reuters) — Toyota aims to produce 70 percent more Prius hybrids after a [...]
Mercedes to cut production in Alabama
First cut in production since plant opened 11 years ago
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April Wortham
Automotive News | July 24, 2008 – 1:59 pm EST
In a sign that even premium automakers are not immune from the U.S. market crunch, Mercedes-Benz confirmed today that it will trim production at its Alabama factory beginning in August.
“We [...]
Friday, July 25, 2008
Chrysler puts 1Q loss at $515M
Daimler says its stake’s worth is down 81%
Eric Morath and Christine Tierney / The Detroit News
Chrysler Holding LLC, the parent company for automaker Chrysler LLC and its finance arm, lost $515 million in the first quarter of 2008, the company said Thursday, the same day that former [...]
Friday, July 25, 2008
Scott Burgess
Ford hopes ride on Euros
Plan to jolt U.S. sales with six models from abroad is overdue
It’s about time.
Ford Motor Co.’s decision to accelerate its automotive emigration plan — in the wake of a record $8.7 billion second-quarter loss and a shift in consumer demand toward fuel-sipping cars — shouldn’t surprise anyone. [...]
Friday, July 25, 2008
Daniel Howes
Mulally’s Ford looks a lot like Toyota
Before he left a 37-year career at Boeing Co. nearly two years ago to run Ford Motor Co., CEO Alan Mulally was a Toyota aficionado: He drove a Lexus luxury sedan; he studied Toyota’s production system; he adapted it, surprising some, to the assembly of [...]
The strike at Johnson Controls in Columbia TN has ended. The eight day strike came to an end at 5:15 P.M. on Wednesday July 23, 2008.The UAW has been recognized by Johnson Controls as their collective bargaining agent. Employees at Johnson Controls return to work on their regular shifts on Thursday July 24.
There will [...]
UAW Recognized at Johnson Controls in Columbia, TN
The strike at Johnson Controls in Columbia TN has ended. The strike came to an end at 5:15 P.M. on July 23, 2008.
Thursday, July 24, 2008
Ford: $8.7 billion second-quarter loss
Bryce G. Hoffman / The Detroit News
DEARBORN — Ford Motor Co. posted a staggering $8.7 billion second-quarter loss today, largely due to write-offs associated with a decline in value of its North American assets Ford Credit’s lease portfolio.
But the dramatic shift away from big trucks and sport utility [...]
UAW says 2,200 Axle workers took buyouts
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Automotive News | July 23, 2008 – 2:16 pm EST
DETROIT (Reuters) — About 2,200 union workers at American Axle & Manufacturing Holdings Inc. have accepted buyout and retirement offers, exceeding the company’s target, a union official with knowledge of the matter told Reuters on Wednesday.
The number represents 60 percent [...]
Chrysler to cut 1,000 jobs, liquidity ‘unchanged’
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Automotive News | July 23, 2008 – 2:00 pm EST
DETROIT (Reuters) — Chrysler LLC said on Wednesday it plans to cut 1,000 salaried jobs by the end of September to slash costs and survive a deep industry downturn.
The privately held automaker, now controlled by Cerberus Capital Management, also said [...]
