Chrysler is recalling almost 189,000 Jeep Grand Cherokees and Dodge Durangos in the U.S. to fix a fuel pump problem that can cause the SUVs to stall.» Read More
Investing in new and updated cars and trucks will lead to a renaissance for General Motors, CEO Daniel Akerson told CNBC on Wednesday.
President Obama is preparing to speak in Detroit today on the U.S. economy, and there is no word of any progress on a deal to avert the fiscal cliff. CNBC's John Harwood offers insight.
Could Detroit become the largest U.S. city to file for bankruptcy protection? Doc Thompson, Detroit Talk Radio host, weighs in; while Ernest Istook, Heritage Foundation, discusses fiscal cliff concerns; and Robert Reich, Former Labor Secretary and Casey Mulligan, University of Chicago Professor of Economics, discuss the jobs report.
Should the Federal Government bail out the entire city of Detroit? Doc Thompson, host of Talk Radio 1270 WXYT, provides perspective.
SEOUL, Nov 6- General Motors Co said it would not build its next-generation Chevrolet Cruze small car in South Korea, raising the possibility that it might shift the assembly to Europe to help boost efficiency at its money-losing unit there. Rocha said the new model would be built in five regions, including Europe, the United States and China, according to Choi.
DETROIT, Nov 5- General Motors Co secured an $11 billion revolving credit facility, more than doubling its financial cushion and further strengthening the balance sheet of the largest U.S. automaker. Thirty-five banks from 14 countries, led by JPMorgan Chase& Co and Citigroup Inc, participated in the deal.
DETROIT, Nov 5- General Motors Co secured an $11 billion revolving credit facility, more than doubling its financial cushion and further strengthening the balance sheet of the largest U.S. automaker. The additional liquidity comes as GM works to stanch losses at its Opel brand in Europe.
DETROIT, Nov 5- General Motors Co said it clinched an $11 billion revolving credit facility, further strengthening the largest U.S. automaker's balance sheet.
NEW YORK, Nov 3- Kim Bondy was in New Orleans seven years ago when Hurricane Katrina devastated the city, and scores of patients died in flooded hospitals cut off from power.
*Combined losses could top $6 bln in Europe in 2012-13. PARIS/ DETROIT, Nov 3- Ford Motor Co, which clung to the road with a timely swerve before the 2009 crisis that bankrupted General Motors Co, may now be pulling a similar stunt in Europe.
Nov 2- Ally Financial Inc, the auto lender 74 percent- owned by the U.S. government, posted a third-quarter profit compared with a year-ago loss, helped by its car-loan and mortgage businesses. The Detroit- based company, once the auto lending arm of General Motors Co, said it earned $384 million in the quarter, compared with a loss of $210 million a year earlier.
Nov 2- Penske Automotive Group Inc, the No. 2 U.S. car dealership group, posted a stronger-than-expected quarterly profit on Friday, but shares fell more than 2 percent as gross margins and vehicle pricing disappointed.
Nov 2- Penske Automotive Group Inc, the No. 2 U.S. dealership group, on Friday posted a stronger-than-expected quarterly profit, helped by a 24 percent jump in retail sales of vehicles. Net income in the third quarter fell to $41 million, or 45 cents a share, compared with $55.7 million, or 61 cents a share, in the year-earlier quarter.
Jeep production to China, which the automaker refutes. Ralph Gilles, the head of product design for Chrysler, became the second top Chrysler executive in three days to strongly deny the claim, which was first made by Republican presidential candidate Mitt Romney last week to a crowd in Ohio.
DETROIT, Nov 1- Superstorm Sandy's fury caused U.S. auto sales to fall short of expectations in October, but industry executives still see a strong fourth quarter as the housing market improves.
Ford Motor Co of Canada remained Canada's top-selling automaker in October with total sales increasing 7 percent. Having recorded sales of 135,000 in October, Canada is on track to reach 1.7 million units sold in 2012. Sales reached more than 1.7 million vehicles only once before, in 2002..
*Ford October sales edge up; Toyota's up 16 pct. While General Motors Co and Chrysler Group LLC both reported their strongest sales for October since the 2007-09 financial crisis, the massive storm that hit the U.S. East Coast took as much as 30,000 vehicle sales out of the mix.
NEW YORK- Huge logistical problems from power failures and navigational hazards roil the massive New York Harbor oil hub in the wake of Hurricane Sandy, threatening widespread delays in fuel deliveries off the New York Mercantile Exchange's futures contracts (STORM-SANDY/CME-DELIVERIES, moving shortly, 800 words).
Nov 1- Ford Motor Co of Canada remained Canada's top-selling automaker in October with total sales increasing 7 percent largely on the back of a nearly 17 percent jump in passenger car sales, the company said on Thursday. Ford of Canada, a wholly-owned unit of Ford Motor Co, said total vehicle sales increased to 20,565 last month from 19,190 in October 2011.
*Ford October sales edge up; Toyota's up 16 pct. DETROIT, Nov 1- General Motors Co and Chrysler Group LLC both reported their strongest U.S. sales for the month of October since the financial crisis sent both U.S. automakers into bankruptcy, but the destruction of storm Sandy will cause the sector to miss overall sales expectations.