Senators Pushing for GM Chrysler Merger
December 5, 2008 3:40:24 PM
As their dirty linen continues to be aired in public, GM and Chrysler have been given another possible survival option; merge to get a loan.

GM and Chrysler considering bankruptcy as a last resort
December 4, 2008 11:49:57 PM
GM and Chrysler executives have each held private discussions on a possible pre-arranged bankruptcy. The two automakers will only do so as a last resort to secure government aid.

Ford Puts 6 Billion Dollar PriceTag on Volvo
December 4, 2008 9:23:04 PM
Ford has put Volvo on the auction block, but buyers are scarce. Ford may not be able to get its 6 billion US dollar asking price for an unprofitable, niche automaker.

Public opposes auto bailout by 60 percent in CNN poll
December 4, 2008 7:39:57 PM
Most Americans opposed a bailout for the ailing US auto industry. After dismal November sales figures have come in, the industry is now asking for 34 billion, instead of the 25 billion US dollars they...

UAW agrees to suspend controversial jobs bank - make other concessions
December 4, 2008 5:39:57 PM
United Auto Workers has agreed to make changes to its labor agreements to help save the industry. The union will suspend the controversial jobs bank program and make concessions on health-care benefit...

Automakers increase bailout request to $34 billion
December 4, 2008 3:59:57 PM
After Congress rejected the big three’s bid for $25 billion dollars in government loans last month, they have returned to Capitol Hill and are now requesting $34 billion dollars in aid.

Top six automakers report 30 to 47 percent sales drop - a 26 year low
December 3, 2008 4:52:24 PM
US market sales are down to a 26-year low. GM sales fall 40 percent for November, 47 percent for Chrysler. Sales also collapsing for Japanese car makers. Toyota had a 34 percent drop, Nissan 42, and ...

Chrysler Turnaround Plan Highlights
December 3, 2008 3:52:24 PM
Chrysler submits a detailed plan for its own urgent turnaround which includes cutting CEO Bob Nardelli's salary to just $1 a year.

Ford places electric vehicles as center piece of turnaround plan
December 2, 2008 11:25:36 PM
To convince the U.S. government to handout a bailout loan of $9 billion, Ford announced their new Vehicle Electrification Plan. The plan includes intentions of releasing all-electric vans and sedans ...

Ford CEO Mulally Driving to Washington DC in Escape Hybrid
December 2, 2008 9:25:36 PM
Ford Motor Company CEO Alan Mulally will drive to D.C. in an Escape Hybrid to make a second plea for aid. Mulally has also agreed to cut his salary to 1 dollar a year if Ford gets government help. GM ...

Aston Martin to cut a third of workforce
December 2, 2008 2:55:00 PM
Luxury British marque Aston Martin will cut jobs to meet challenge of falling sales. The maker of luxury sports cars such as the Aston Martin DB9 and the Aston Martin Vantage has said it will sell les...

Toyota's Tripple A Credit Rating Downgraded
November 28, 2008 11:19:22 AM
Industry mood and current financial events have affected even the strongest of the strong players, Toyota Motor, to such an extent that its triple A rating with a top agency has been downgraded.

Porsche sales hit - production stops - VW stake increase postponed
November 26, 2008 6:04:56 PM
Porsche is predicting that their revenue in the four months through November will fall 15 percent from a year ago, forcing them to re-evaluate their current strategy.

Big Three ready survival plan for Congress
November 25, 2008 1:27:52 PM
US automakers get a second chance, but must come up with a plan to save their industry. Congress is expecting detailed restructuring plans from all 3 Detroit automakers by December before it decides o...

More European automakers looking for government bailout
November 24, 2008 11:32:42 PM
European automakers are awaiting word on a possible 40 billion euro soft loan from the EU. Jaguar is in talks with the UK government for a 1 billion pound aid package for the troubled British premium ...

GM rules out bankruptcy
November 24, 2008 12:55:55 PM
GM board has reviewed a bankruptcy scenario but has ruled out Chapter 11 as a viable option. GM still betting that a US government bailout is its best chance for survival.

Opel may be better off without GM
November 22, 2008 12:39:38 AM
The German government has said it is open to providing a 1 billion euro loan guarantee for Opel as long as the money is used solely to sustain operations within Germany. It also says aid to Opel will ...

The Yugo is no more
November 22, 2008 12:09:38 AM
Serbian auto maker Zastava ended production of the Yugo on Friday. The car that became the butt of jokes in the West, of which 800,000 were produced since 1978, is no more.

Big 3 bailout compromise reached - then vote cancelled
November 20, 2008 10:49:54 PM
Reaching a compromise key Senators drafted a bill that should see the $25 billion promised in September for factory retooling, being made immediately available as a kind of emergency cash bailout. How...

Honeycomb tire of the future
November 20, 2008 5:12:14 PM
A bulletproof, honeycomb tire presents a number of opportunities, and challenges too; like ride comfort. If it works it could pave the way for a new tire of the future.