Monday, October 13, 2008
Engler urges White House to quickly approve auto loans
David Shepardson / Detroit News Washington Bureau
DETROIT — Former Michigan Gov. John Engler today called on the White House to intervene to ensure that the Energy Department quickly moves to grant $25 billion in government-issued low-cost loans to automakers by the end of January.
"General [...]
Monday, October 13, 2008
Chrysler’s chairman tells employees company ‘exploring future possibilities’
Christine Tierney / The Detroit News
Chrysler LLC Chairman and CEO Bob Nardelli told employees today that the privately-held automaker had been in contact with other parties "interested in exploring future possibilities with Chrysler" but said no new agreements had been reached.
"I can tell you that [...]
Monday, October 13, 2008
GM to close Grand Rapids metal plant
Robert Snell / The Detroit News
General Motors Corp. will close its metal and die plant in Grand Rapids by the end of 2009, the automaker announced today, a reaction to a slump in sales of pickup trucks and sport-utility vehicles.
The move, which affects 1,340 hourly and [...]
J.D. Power: Global auto market may ‘collapse’ in ‘09
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Automotive News | October 9, 2008 - 12:45 pm EST
DETROIT (Reuters) — The global auto market may experience an "outright collapse" in 2009 amid growing concerns around availability of credit and general economic stress, an influential industry tracking firm said today.
J.D. Power and Associates said in a [...]
Automotive News | October 13, 2008 - 12:01 am EST
DETROIT(Reuters) - General Motors said on Saturday it has not sought a federal bailout but did not rule out the possibility of approaching the U.S. government or taking other dramatic steps to survive a worsening downturn in auto sales.
Speculation was triggered by a report in [...]
GMAC says it will restrict auto lending
Auto lender will require credit scores over 700
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Amy Wilson
Automotive News | October 13, 2008 - 5:17 pm EST
DETROIT — GMAC Financial Services said today that it no longer will lend money to vehicle buyers with credit scores lower than 700.
The announcement means GMAC intends to deal only with [...]
Monday, October 13, 2008
GM to close Wisconsin plant in Dec.; stock jumps
Associated Press
DETROIT — The U.S. automotive sales slump worked its way to Janesville, Wis., today when General Motors Corp. told workers that it would cease operations at a sport utility vehicle factory there in December.
GM spokesman Chris Lee said the plant’s 1,200 workers represented [...]
GM-CHRYSLER MERGER TALKS
Chrissie Thompson
Automotive News | October 13, 2008 - 12:11 pm EST
The chairman of the Chrysler-Jeep National Dealer Council says he thinks a Chrysler-General Motors merger could help the companies, as long as it didn’t involve a merger in the dealership franchise structures.
Jim Arrigo, of the two Arrigo Dodge-Chrysler-Jeep stores in Florida, said [...]
Beyond merger talks, GM eyes federal funds
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Automotive News | October 13, 2008 - 12:01 am EST
DETROIT (Reuters) — What’s good for General Motors is good for the country.
When former GM CEO Charles Wilson told the U.S. Senate that GM "goes with the welfare of the country" in 1953, the automaker had more employees than the [...]
GM-CHRYSLER MERGER TALKS
GM stock rises, analysts skeptical about merger
S&P cites ‘massive execution risks’ with such a deal
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Automotive News
October 13, 2008 - 8:45 am ET
UPDATED: 10/13/08 2:00 p.m. EDT
DETROIT (Reuters) — Shares of General Motors jumped 31 percent in trading today after reports the automaker had been in merger talks in recent weeks with [...]
GM to close Wisconsin SUV plant by year-end
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Automotive News | October 13, 2008 - 10:00 am EST
DETROIT (Reuters) — General Motors said today it would close its Janesville, Wis., assembly plant by year-end in response to slumping demand for the full-size SUVs it manufactures.
GM had previously said it would close the Janesville plant by 2010, [...]
Toyota’s October surprise
What credit crunch? Toyota’s captive brags in a big ad blitz that it’s ready to do deals
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Kathy Jackson
Automotive News | October 13, 2008 - 12:01 am EST
LOS ANGELES — Rich and powerful Toyota, stung by a stunning collapse in sales last month, will spend a ton of money in October on a [...]
Detroit dilemma: Big prices for small cars
Automakers add content, pricing, inventory
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Jamie LaReau
Automotive News | October 13, 2008 - 12:01 am EST
ENLARGE
DETROIT — The Detroit 3 are adding premium equipment to small cars to replace lost profits from big trucks.
A small car with [...]
RUNNING THE NUMBERS
Jamie LaReau
Automotive News | October 13, 2008 - 12:01 am EST
ENLARGE
Ford moved the 2009 F-150 launch to November from December.
How the mighty F has fallen. Though still America’s [...]
GM starts Camaro price at $22,995
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Mary Connelly
Automotive News | October 13, 2008 - 12:01 am EST
ENLARGE
Prices for the Chevrolet Camaro range from $22,995 to $30,995 for the SS model, shown.
DETROIT [...]
