The United Auto Workers union has placed concession talks with General Motors on the back burner as it tries to reach a deal with Chrysler before an April 30 government deadline, two people briefed on the negotiations said Thursday.
Nissan Motors CEO Carlos Ghosn said the company has the technology and the ability to produce cars that are going to be zero emissions by 2010 but also cost-friendly.
For as long as I've been covering GM, I've heard the same thing over and over, "We are cutting dealerships and will get down to a core group that will be more profitable." Rick Wagoner said it when he took as CEO in 2000. Fritz Henderson is saying it as CEO in 2009.
Futures pointed to a higher open Thursday as investors shrugged off some dismal data points, choosing to focus on a drop in the headline jobless-claims number.
The bad economy isn’t bad for everyone. In fact, Jeff Macke has spotted an area where fortunes are thriving because of the downturn.
Don’t believe the hype that all you have to do is walk into a U.S. car dealership and they’ll practically pay you to walk out with the car.
It is increasingly clear GM's beleaguered Saturn brand will be orbiting around a foreign auto maker.
Were most of you going for the safety info or just the neat footage? My guess is, like many car races, most of you were just going to see the best crash.
The comments are blunt. Some would say they are long overdue. But most importantly, they reflect the sobering reality facing Chrysler and it's workers. They've got two weeks to show they want to get a deal done with Fiat or they can roll the dice with bankruptcy.
Now that the government has helped General Motors and Chrysler stave off bankruptcy with billions of dollars in loans, these US automakers are finding somewhat hostile crowds at their exhibits at the New York Auto show.
The video is dramatic. Especially if you've ever asked yourself how the smallest cars on the road would protect you in an accident. According to the latest head-to-head crash tests by the non-profit group Insurance Institute for Highway Safety, people riding in these "micro" cars would be at risk of a serious injury.
The senior lenders to Chrysler are planning to make a counteroffer to the Treasury Department this week, pushing back on a debt-reduction plan they say is too coercive.
Warren Buffett is in the driver's seat when it comes to the "car of the future," says Fortune. The magazine has put Buffett on its cover ("Buffett's Electric Car") along with the BYD E6, for a major story on Berkshire Hathaway's investment last fall in the Chinese company that is working to challenge the world's biggest automakers. The cover asks, "If the Oracle's plugging in, shouldn't you?"
You can hear them virtually everywhere. You can call them pessimists, but I prefer the term realists. They are people within GM, the Obama administration, the auto industry, and elsewhere who now see GM filing for bankruptcy as the best move for a company with few good options.
The Treasury Department is directing General Motors to lay the groundwork for a bankruptcy filing by a June 1 deadline, despite GM's public contention that it could still reorganize outside court, the New York Times reports.
With General Motors now negotiating with debtors and union leaders for a drastic revision to current agreements, it's time to stand back and reflect on the bigger impact of this drama.
Inspired by AIG? Humored by unemployment? As humbling as the economic crisis has been, some creative characters have managed to find inspiration amid the wreckage of the economy and their personal lives.
The auto task force, lead by Steven Rattner, wants GM to emerge with as little debt as possible once the restructuring process is done, according to numerous sources familiar with the situation.
The New York Auto show opens its doors to the public this holiday weekend to an ever more economy-conscious public. Click to see what they have to offer.
Shortly after the doors opened to press days at the New York Auto Show someone asked me, "Do these auto shows really serve a purpose anymore?"