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.

GM rejects offer to sell Opel
November 20, 2008 11:38:10 AM
German solar energy company SolarWorld makes a surprise offer to buy Opel, but GM says its German brand is not for sale.

No $25-billion bailout package for automakers - Senate vote canceled
November 20, 2008 10:18:50 AM
After a somewhat contentious day on Capital Hill it became obvious that representatives from the Big 3 failed to sway enough members of the United States Senate to back a measure to provide them with ...

American automaker's 25bn bailout looks doubtful
November 19, 2008 10:35:31 PM
Prospects for a bailout of US automakers continue to dim, as Republicans in Congress and President Bush continue to oppose a 25 billion dollar bailout package for the Big 3 auto companies.

Chrysler to run out of cash soon
November 19, 2008 12:30:45 PM
US giant Chrysler could be out of business before 2008 is over. A report by CEO Bob Nardelli details Chrysler's deep financial crisis which may end the company's fortunes very soon.

Congress puts forth bailout plan with strict demands
November 18, 2008 4:05:35 PM
Congressional leaders are willing to provide 25 billion dollars to the automakers, but not without strings attached. But still, the prospect of a bailout under the current administration remains slim.

GM reveals more cash saving measures
November 18, 2008 3:05:35 PM
GM is scrambling to pinch pennies to assure its liquidity throughout 2009. The company has announced it will raise 230 million US dollars by selling its remaining stake in Suzuki Motor. It also said i...

GETRAG files for Chapter 11 bankruptcy protection
November 18, 2008 2:35:35 PM
Transmission supplier Getrag has filed for bankruptcy protection on one of its US plants after automaker Chrysler reneged on an agreement to source new transmissions from the German brand.

Berlin ready to give Opel 1bn Euro guarantee
November 18, 2008 1:35:35 PM
German government pledges to provide Opel with 1 billion euros in loan guarantees. But the government of Chancellor Angela Merkel has stipulated the money is to remain in Germany to shore up Opel's op...

VIDEO: GM higlights the consequences of automakers collapse
November 17, 2008 10:20:40 PM
GM puts out a video on the dire consequences to the US economy if the big 3 automakers are allowed to collapse. GM, Ford and Chrysler are hoping for a government bailout in the form of 25 billion US d...

GM to sell remaining Suzuki stake for 230 million US
November 17, 2008 4:49:42 PM
GM will sell its remaining stake in Suzuki Motor for 230 million US. The troubled automaker is selling off assets to raise cash as GM is losing about 2.3 billion US dollars a month at its current rate...

German government warms to idea of bailout for Opel
November 17, 2008 3:19:42 PM
The German government is considering a bailout for GM Europe's Germany-based brand Adam Opel. Opel has asked both federal and state governments in Germany for loan guarantees.

2009 Detroit Auto Show loses Ferrari, Rolls-Royce and Land Rover
November 14, 2008 7:45:49 PM
The North American International Auto Show in Detroit was already expected to have a rather somber tone this year but now comes word that Ferrari, Rolls-Royce and Land Rover won’t be attending the sho...

European Auto Industry Also Suffering from Dramatic Sales Decline
November 14, 2008 12:14:19 PM
European automakers don't face the same threats as their US counterparts, but sales are falling dramatically in European markets too. European car sales have plummeted due to sagging consumer confiden...

GM Bankruptcy Could Be the Best Solution
November 14, 2008 12:36:40 AM
GM is in dire need of cash and says it may collapse before an Obama administration comes to power. But some industry observers say GM going into bankruptcy protection may be best course of action.

Democrats Propose $25B Cut of the $700B Bail Out Package for Big 3
November 13, 2008 6:27:38 PM
Democratic Congress open to setting aside $25 Billion from bailout fund for automakers but the Bush administration still skeptical of providing help.

Paulson: 700BN Rescue Bailout Not for Auto Makers
November 13, 2008 3:01:45 PM
Chrysler, Ford and General Motors might well not benefit from the US700 billion rescue package which is meant to rejuvenate the financial services industry.