Nissan halves profit outlook, trims production and workforce queryvar=”nissan,halves,profit,outlook,trims,production,and,workforce”; Hans Greimel Automotive News | October 31, 2008 – 8:10 am EST TOKYO — Nissan Motor Co. was the latest automaker to slash its earnings outlook, saying it will cut output and its workforce to bring inventory into line with tumbling U.S. demand. [...]
Nissan offers 0%, lease initiatives queryvar=”nissan,offers,0%,lease,initiatives”; Lindsay Chappell Automotive News | October 31, 2008 – 8:15 am EST ENLARGE Nissan is offering 0% financing on the Rogue and other vehicles. NASHVILLE — Nissan North America is joining rival Toyota in offering 0-percent consumer loans in hopes of jolting the U.S. auto market back [...]
Friday, October 31, 2008 Chrysler sues Johnson Controls for leaving lead out of batteries Associated Press DETROIT – Chrysler LLC is suing its battery supplier for millions of dollars. The issue? Lead. Chrysler says Johnson Controls Inc. has been charging it for lead that doesn’t end up in the batteries. The Auburn Hills-based car company [...]
Friday, October 31, 2008 GM readjusts Flint plant production Robert Snell / The Detroit News General Motors Corp. will idle workers who produce medium-duty commercial trucks at the Flint Assembly plant for two weeks in January, the company said today. Meanwhile, the automaker also has announced two days of overtime in December for workers on [...]
Friday, October 31, 2008 Michigan cancels meeting on GM-Chrysler deal Associated Press WARREN – Michigan has canceled a meeting of local governments to discuss the possible merger of General Motors Corp. and Chrysler LLC. The Michigan Economic Development Corp. said Friday’s planned meeting at Warren City Hall will be rescheduled. Officials from cities with Chrysler [...]
Friday, October 31, 2008 Nissan reports 39 percent drop in quarterly profit Yuri Kageyama / Associated Press TOKYO – Nissan reported a 39 percent drop in fiscal second quarter profit Friday, as a strong yen and a contraction in the U.S. market combined to batter earnings at Japan’s No. 3 automaker. Japanese automakers have been [...]
Thursday, October 30, 2008 Obama: I’ll meet with Detroit automakers immediately Gordon Trowbridge / Detroit News Washington Bureau Democratic presidential nominee Barack Obama said Thursday he would immediately meet with the heads of Detroit’s automakers and union once he takes office, telling NBC News, "We do need American cars." Obama’s comments came in an interview [...]
Govs push fed aid for Big 3 Granholm, five others lobby for quick funding; Obama says he’ll be personally involved in helping industry if elected. Robert Snell, Mark Hornbeck and Christine Tierney / The Detroit News Gov. Jennifer Granholm and five other governors called on Washington on Thursday to take "immediate action" to help the [...]
Sources: GM, Chrysler merger on hold queryvar=”sources:,gm,chrysler,merger,on,hold”; Automotive News October 31, 2008 – 1:00 am ET DETROIT (Reuters) — A deal to merge General Motors and Chrysler has hit an impasse after the Bush administration ruled out funding for it, three people with direct knowledge of the talks said. This puts any merger of [...]
U.S. Treasury not negotiating aid for GM merger queryvar=”us,treasury,not,negotiating,aid,for,gm,merger”; Automotive News | October 30, 2008 – 6:45 pm EST WASHINGTON (Reuters) — The U.S. Treasury Department is not negotiating with General Motors and the owners of Chrysler LLC on a request to provide direct government aid to their proposed merger, a Bush administration official [...]
Thursday, October 30, 2008 Daniel Howes Chrysler workers in limbo Kenneth Mefford isn’t the only autoworker toiling in the plants of Detroit’s diminishing three who’s unsure what the most perilous times in generations will bring. There are thousands more — too young to retire, too old to want to start over and unable to control [...]
Thursday, October 30, 2008 Lease perks anger workers Despite cutbacks, automakers continue to offer subsidized vehicles for many of their managers. Bryce G. Hoffman / The Detroit News As Detroit’s Big Three shutter factories, slash jobs and trim benefits, one executive perk remains: subsidized cars and trucks for management, often with insurance, maintenance and gasoline [...]
Thursday, October 30, 2008 Investors warm up to GM-Chrysler Securing fed aid could pave way for private financing of complex deal. Christine Tierney and David Shepardson / The Detroit News Private investors have shown interest in General Motors Corp.’s proposed acquisition of Chrysler LLC and may help finance the deal if the U.S. government agrees [...]
Posted on Tuesday, October 28, 2008 at 11:52AM by Janice Putman After the smoke clears, it’s time for America, Inc. By Peter M. De Lorenzo Detroit. By now it should be obvious to even the most casual observers that the domestic automobile industry is on the verge of total collapse. Already reeling from the [...]
Wednesday, October 29, 2008 GM falls further behind Toyota Robert Snell / The Detroit News DETROIT – General Motors Corp. reported this morning it sold more than 2.1 million vehicles globally during the third quarter, down 11.4 percent from last year. Through September, GM sold 6.7 million vehicles compared with 7.051 million for Toyota, which [...]
