House approves $25 billion in industry loans queryvar=”house,approves,$25,billion,in,industry,loans”; Harry Stoffer Automotive News | September 24, 2008 – 3:30 pm EST WASHINGTON — Automakers and suppliers soon should be able to seek $25 billion in low-interest federal loans to retool plants to build fuel-efficient vehicles and components. The House of Representatives today voted [...]
Daimler may sell rest of Chrysler to Cerberus Bradford Wernle Automotive News | September 24, 2008 – 11:45 am EST Cerberus Capital Management LP has approached Daimler AG about buying the German company’s remaining 19.9 percent stake in Chrysler Holding LLC. Daimler and Cerberus officials both confirmed the talks this afternoon. A Cerberus [...]
GM looking to sell plant in France, other assets queryvar=”gm,looking,to,sell,plant,in,france,other,assets”; Automotive News | September 24, 2008 – 12:00 pm EST DETROIT (Reuters) – General Motors is looking to sell its manufacturing facilities in Strasbourg, France, and will begin seeking buyers next month when it begins a formal sale process for its Hummer [...]
Bill Heard Enterprises closes its doors queryvar=”bill,heard,enterprises,closes,its,doors”; Chrissie Thompson Automotive News | September 24, 2008 – 3:05 pm EST Bill Heard Enterprises, the country’s top Chevrolet dealer group, is closing the doors at all of its 13 dealerships at the end of business today, according to a person with knowledge of the [...]
Report: Chrysler loses $400M through August 2008 queryvar=”report:,chrysler,loses,$400m,through,august,2008″; Automotive News September 24, 2008 – 3:00 am ET DETROIT (Reuters) — U.S. automaker Chrysler on Tuesday told dealers it had lost $400 million so far this year, the Wall Street Journal said. CEO Robert Nardelli told dealers that despite cutting costs, Chrysler was still losing [...]
Automotive News | September 24, 2008 – 7:00 am EST HANOVER, Germany (Reuters) — Japanese truckmaker Isuzu Motors Ltd. will struggle to hit its full-year net profit target and has ruled out buying General Motors’ mid-sized trucks business, President Susumu Hosoi told Reuters. "It will be difficult to achieve the net [...]
Wednesday, September 24, 2008 Manny Lopez UAW rap on McCain cars is not productive At some level, what sits in your driveway defines who you are, whether you want to admit it or not. For some, it’s intentional; for others it’s a matter of circumstance. For the United Auto Workers president, it’s absolute. And that’s [...]
Wednesday, September 24, 2008 Delphi gets OK to freeze pensions Supplier will resume talks with creditors critical of deal with GM to exit bankruptcy. David Shepardson / Detroit News Washington Bureau NEW YORK — Delphi Corp. won permission from a bankruptcy court Tuesday to freeze its hourly and salaried pension plans, but will have to [...]
Senate OKs Volt-friendly plug-in tax credit queryvar=”senate,oks,volt-friendly,plug-in,tax,credit”; Harry Stoffer Automotive News | September 23, 2008 – 6:35 pm EST WASHINGTON — General Motors’ hopes for a $7,500 federal tax credit to help it sell plug-in hybrid Chevrolet Volts may soon be realized. The Senate this evening passed a complex and wide-ranging tax [...]
GM wins tax breaks for Mich. projects Announcement planned for Flint project on Thursday queryvar=”gm,wins,tax,breaks,for,mich,projects”; Ryan Beene Automotive News | September 23, 2008 – 12:01 am EST DETROIT — The Michigan Economic Growth Authority board today granted General Motors more than $130 million in tax credits in a move to persuade the automaker [...]
Will Uncle Sam take on bad car loans? queryvar=”will,uncle,sam,take,on,bad,car,loans?”; Donna Harris and Harry Stoffer Automotive News | September 23, 2008 – 2:45 pm EST WASHINGTON — Should taxpayer dollars be used to buy up bad car loans? A financial trade association says yes. The idea arose today amid reports of behind-the-scenes maneuvering [...]
