Tuesday, October 7, 2008 Auto stocks hit new lows Fears of global credit crisis push Dow to 4-year low; Ford, GM hit hard David Shepardson / Detroit News Washington Bureau Wall Street got it bad Monday – but auto stocks got it worse – as investors around the world realized that the global financial crisis they feared [...]
Robert Sherefkin and David Barkholz Automotive News | October 7, 2008 – 11:53 am EST DETROIT — General Motors has ceased equipping its vehicles with a hot-spray windshield washer system that prompted a recall of 944,000 cars and trucks in late August. Deborah Silverman, spokesman for GM, said today GM has [...]
Gettelfinger: Detroit 3 quiet on helping retiree funds queryvar=”gettelfinger:,detroit,3,quiet,on,helping,retiree,funds”; David Barkholz Automotive News | October 7, 2008 – 4:48 pm EST UAW President Ron Gettelfinger DETROIT — UAW President Ron Gettelfinger said today that he hasn’t been approached by the Detroit 3 to allow additional delays in funding payments to the union’s voluntary [...]
GM cuts production in Europe queryvar=”gm,cuts,production,in,europe”; John Revill Automotive News | October 7, 2008 – 9:23 am EST MUNICH — General Motors will halt production in all its European plants except Rüsselsheim later this month in response to slowing new-car sales. GM will cut production by 40,000 units by closing its factories [...]
Tuesday, October 7, 2008 Daniel Howes: Commentary Will Detroit’s Big 3 survive chaos? It’s comforting to know Dick Fuld, CEO of bankrupt Lehman Brothers Holdings Inc., wants Congress to know he and his cohorts were mistaken about the weakness of the mortgage markets and how quickly things could go bad. It’s also rich to hear [...]
Tuesday, October 7, 2008 GM seeks deal for RenCen Carmaker may sell building if it can’t borrow $500M; Pitch to be made to Detroit pension funds Robert Snell and Christine MacDonald / The Detroit News General Motors Corp. wants to borrow about $500 million from one or both of Detroit’s pension funds to refinance the [...]
Market tanks, taking down auto stocks with it Ford hits lowest point since 1980s queryvar=”market,tanks,taking,down,auto,stocks,with,it”; Chrissie Thompson Automotive News | October 6, 2008 – 1:39 pm EST U.S. stock markets plummeted today before posting a modest recovery, sending Ford Motor Co. stock to its lowest price since the 1980s on an adjusted [...]
Study: $25 billion in auto loans past due queryvar=”study:,$25,billion,in,auto,loans,past,due”; Donna Harris Automotive News | October 6, 2008 – 1:23 pm EST Nearly $25 billion worth of consumer auto loans are delinquent, a new study reports. In the second quarter of 2008, Experian Automotive says, 2.48 percent of all auto loans were 30 [...]
