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 expanded its lead in [...]
Wednesday, October 29, 2008
Analyst: GM-Chrysler deal could cost 35,000 jobs in Michigan
Alisa Priddle / The Detroit News
The automotive market cannot sustain three Detroit car companies, making a merger of General Motors Corp. and Chrysler LLC a more palatable option for the industry than allowing one of the Big Three to go bankrupt, Patrick Anderson, principal [...]
Wednesday, October 29, 2008
Source: GM, Chrysler resolve some major issues
David Shepardson / Detroit News Washington Bureau
WASHINGTON — General Motors Corp. and Cerberus Capital Management LP have resolved some key issues over a deal for the Detroit automaker to acquire Chrysler LLC, but are still trying to hammer out financing, a person familiar with the matter [...]
GM’s new small global sedan goes on sale in Korea
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Gary Anglebrandt
Automotive News | October 29, 2008 – 1:54 pm EST
ENLARGE
Michael Grimaldi, CEO of GM Daewoo, poses with models at the launch of the Daewoo Lacetti in Korea earlier today.
[...]
Reuters: Major issues resolved in GM-Chrysler talks
Wagoner said to lead combined automaker if deal gets financed
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Automotive News | October 29, 2008 – 1:00 pm EST
DETROIT (Reuters) — General Motors and Cerberus Capital Management LP have resolved the major issues in a proposed GM-Chrysler merger but the final form of any deal will depend on the [...]
Ford Launching Systems to Rival GM’s OnStar
By Byron Pope
WardsAuto.com, Oct 23, 2008 9:38 AM
DEARBORN, MI – Ford Motor Co. claims its soon-to-be-launched 911 Assist system rivals General Motors Corp.’s OnStar service for speed and performance.
And it’s free, adds the head of Ford’s recently [...]
Wednesday, October 29, 2008
Chrysler Financial may ship IT work
Automaker’s financing arm could save $18M a year via department outsourcing, plan says.
Alisa Priddle / The Detroit News
Chrysler Financial could save about $18 million a year with a plan to outsource 85 percent of its U.S. information technology work force, most of it offshore, according to document [...]
Wednesday, October 29, 2008
Feds fast-track loan plan for GM
Funding would help automaker seal deal with Cerberus; Ford, Chrysler lobby for aid as well.
David Shepardson / Detroit News Washington Bureau
WASHINGTON — The U.S. Energy Department is intensifying its effort to begin lending money through a $25 billion auto loan program that could be a critical source [...]
GM retirements change bosses at 7 plants
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David Barkholz
Automotive News | October 28, 2008 – 5:10 pm EST
General Motors will have seven new plant managers on Nov. 1, as North American factory chiefs leave under the new retirement incentive program.
The carousel involves three assembly plants, two stamping plants and two powertrain plants, said GM spokesman [...]
Mulally: Ford bankruptcy is not an option
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Amy Wilson
Automotive News | October 28, 2008 – 2:28 pm EST
DETROIT — Despite a declining U.S. auto market that is prolonging Ford Motor Co.’s losses, bankruptcy protection isn’t an option for the automaker, CEO Alan Mulally says.
"It absolutely doesn’t work for us. It doesn’t make sense to us," [...]
GM delays most future product, r&d in cash crunch
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Jamie LaReau and Robert Sherefkin
Automotive News | October 29, 2008 – 12:01 am EST
DETROIT — General Motors is postponing nearly all of its spending on product development in 2009 and 2010 — a cost-cutting move that could delay the introduction of key vehicles such as the [...]
GM delays most future product, r&d in cash crunch
queryvar=”gm,delays,most,future,product,r&d,in,cash,crunch”;
Jamie LaReau and Robert Sherefkin
Automotive News | October 29, 2008 – 12:01 am EST
DETROIT — General Motors is postponing nearly all of its spending on product development in 2009 and 2010 — a cost-cutting move that could delay the introduction of key vehicles such as the [...]
