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 [...]
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 [...]
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 [...]
J.D. Power: Global auto market may ‘collapse’ in ’09 queryvar=”jd,power:,global,auto,market,may,collapse,in,09″; 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. [...]
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 [...]
GMAC says it will restrict auto lending Auto lender will require credit scores over 700 queryvar=”gmac,says,it,will,restrict,auto,lending”; 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 [...]
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 [...]
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 [...]
Beyond merger talks, GM eyes federal funds queryvar=”beyond,merger,talks,gm,eyes,federal,funds”; 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, [...]
GM-CHRYSLER MERGER TALKS GM stock rises, analysts skeptical about merger S&P cites ‘massive execution risks’ with such a deal queryvar=”gm,stock,rises,analysts,skeptical,about,merger”; 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 [...]
GM to close Wisconsin SUV plant by year-end queryvar=”gm,to,close,wisconsin,suv,plant,by,year-end”; 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 [...]
Toyota’s October surprise What credit crunch? Toyota’s captive brags in a big ad blitz that it’s ready to do deals queryvar=”toyotas,october,surprise”; 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 [...]
Detroit dilemma: Big prices for small cars Automakers add content, pricing, inventory queryvar=”detroit,dilemma:,big,prices,for,small,cars”; 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 big profit margins? It [...]
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 top-selling vehicle, Ford’s F-series pickup is tracking at below 500,000 sales for the full year. It even could finish [...]
GM starts Camaro price at $22,995 queryvar=”gm,starts,camaro,price,at,$22,995″; 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 — Chevrolet’s 2010 Camaro LS with a V-6 engine will carry a base sticker of $22,995, including [...]
