LANSING, Mich.— The U.S. auto industry's home state of Michigan is preparing for the advent of self-driving cars by pushing legislation to allow for public sales and operation— a significant expansion beyond an existing state law that sanctions such vehicles for testing only. While widespread use of driverless cars may be years away, lawmakers and... » Read More
After 26 years as one of the most politically connected investment bankers on Wall Street, Steven Rattner finally took a job in Washington — only it is not quite the one friends and business associates thought it would be.
In the week since President Obama's Auto Task Force decided GM and Chrysler were not viable, much of the focus has been on the future of GM, who runs the company, and how the country can save its largest auto maker.
Shares of Mitsubishi Motors jumped to a three-month high on Friday after a newspaper said the automaker would double its annual production capacity target for electric cars in the business year to March 2012.
Calling it "general theft," Sen. John McCain blasted the Obama administration's budget proposal on CNBC Thursday.
March sales fell sharply for General Motors, Ford Motor and Chrysler, but not as much as industry analysts had feared for any of the companies. Sales of Japanese automobiles also fell, though less steeply than they did for U.S. automakers.
Automakers were set to release their March U.S. vehicles sales on Tuesday amid continued uncertainty about the future of U.S.-based car makers.
The president's position on GM has not changed since Monday, a senior administration official said when asked to comment on a Bloomberg report which said Obama had determined a prepackaged bankruptcy was the best way for GM to restructure.
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Stocks closed out a tough quarter on a positive note, helped by gains in technology and big banks.
More companies like Ford, GM and JetBlue are throwing a lifeline to laid off customers with refunds or payment protection.
Sales of Hummers over all have fallen so far — 51 percent last year, the worst drop in the industry — that General Motors is trying to find a buyer for the brand.
Housing and autos are in the news, but how's business? Answer: the bottom is still murky.
Yamaha Motor USA recalled about 120,000 off-highway recreational vehicles for repairs Tuesday, after two models were involved in 46 deaths.
It seems the tough talk from President Obama's has sparked the car makers into action.
General Motors's new CEO, Fritz Henderson, said the automaker could file for bankruptcy before the end of the 60 days the government has given GM to restructure itself.
Meet the people who now hold Detroit's fate in their hands.
With members of President Obama's Auto Task Force hitting the ground in Detroit, the re-structuring of General Motors kicks into gear. Monday in Washington may have been all about justifying and selling the government calling the shots at GM, but Tuesday in Detroit is when the president's people get to work. No wonder critics are now saying GM now stands for Government Motors, not General Motors. So what happens next?
US stock index futures pointed to a higher open Tuesday, following a sharp decline in the previous session as investors digested the Obama administration’s tough stance on General Motors and Chrysler.
Ford Motor says it is offering a payment protection plan to help reassure consumers who may be putting off a car purchase because of worries about losing their job.
Sure, the market saw some losses today. But that’s a good thing for investors.