Nikkei Closes Down Over 7% After Volatile Session
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General Motors says it aims to register 3.5 billion shares of stock for a potential public offering sometime in 2010.
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They were waiting down at Gibson Chevrolet near Chicago for a couple of five-gallon cans of sodium silicate — liquid glass, they call it — to poison and kill the clunkers when the latest condemned car pulled up.
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General Motors's product development chief says the company will introduce a plug-in rechargeable midsize sport utility vehicle sometime in late 2010 or in 2011.
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The head of the task force overseeing the auto industry says the U.S. government will not use its stake in General Motors to make social policy.
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Automaker chief says Toyota is fast-tracking plans for an affordable sports car it will launch in the next few years and says US auto market will bounce back strong.
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So if you didn't make it to the dealer last week, have you missed your chance for the cash—and are you stuck with your clunker?
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The House voted to pump $2 billion into a popular cash-for-clunkers program running near empty, with a leading Democrat saying "consumers have spoken with their wallets."
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The Cash for Clunkers program has been vital towards resuscitating the US auto industry and should continue, AutoNation CEO Mike Jackson told CNBC.
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General Motors will end its half-century run as sponsor of the Buick Open golf tournament as it tries to focus scarce marketing dollars on its cars and trucks, a person briefed on the decision said Tuesday.
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Chrysler says it will double the $4,500 government incentive for people to trade in their old gas guzzlers for new vehicles under the "cash for clunkers" program.
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Auto sales could bounce back to the $12- to 13-million annual sales rate within a year, Toyota Motor's North American President Yoshi Inaba said Monday.
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General Motors says it is investing $1 billion to develop two new car models in Brazil. The president of GM's operations in Brazil and the Mercosur countries says it is GM's biggest investment since the onset of the global financial crisis.
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GM CEO Fritz Henderson told CNBC Friday that the new GM must succeed and he said that he believes that the company will do just that.
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On the day GM emerged from bankruptcy, company CFO Ray Young told CNBC Friday that the new GM won't be seeing real cash flow until sometime in 2010.
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Once the world's largest and most powerful automaker, new GM is now cleansed of massive debt but faces a daunting task as car sales are in the worst slump in 25 years.
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The path is now clear for General Motors to leave bankruptcy protection in record time as a leaner company that is better equipped to compete in a brutal global auto market.
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As Hyundai looks to gain share in the auto market, it will need to offer a full range of vehicles, said John Krafcik, acting president and CEO of Hyundai Motors America.
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The sale of most of General Motors' assets is moving closer to completion, after a bankruptcy judge denied motions by groups with asbestos and injury-related claims seeking to halt the sale and appeal directly to the 2nd Circuit Court of Appeals.
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A bankruptcy judge has ruled that General Motors can sell the bulk of its assets to a new company, but it appears the ruling will be appealed by a Chicago law firm.
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General Motors and Chrysler are closing 3,200 dealerships nationwide, and aren't doing any favors for recent automotive tech graduates looking for mechanic jobs. But fewer people buying new cars and trucks also means people are counting on their older vehicles to run reliably.
Behind the Wheel with Phil Lebeau
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The company became the first automaker to repay money under Advanced Technology Vehicle Manufacturing program.
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Bob Lutz is teaming up with Wanxiang Group, a Chinese auto parts supplier, in a bid to buy the ailing Fisker
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Mercedes-Benz is digging in and putting more features into its redesigned flagship S-Class sedan.