TORONTO, May 1- General Motors Co jumped to the top of the Canadian sales rankings for April as it sold 15 percent more cars and trucks than a year earlier, the company said on Friday, winning a crown usually held by its rivals. "Despite the troubling oil industry in Canada, vehicle companies reported an all-time best April in sales in the Canadian automotive history,"...» Read More
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?"
We break down the pros and cons of the plans being offered to entice consumers to buy a new car even if they are worried about their jobs.
Because of the money it borrowed nearly three years ago, Ford is in far better shape than its two crosstown rivals, GM and Chrysler. The loans have kept it independent and on a course to survive the worst new-vehicle market in nearly 30 years.
Aggressive price cuts and a lack of good-quality used cars has sent the price of some new autos below their second-hand equivalents, the Financial Times reported Thursday.
Is bailout nation about to strike again? Sure looks like it. According to this morning’s front-page Wall Street Journal story, life-insurance companies are about to get TARPed. This is nuts.
NOT SEEN ON T.V.: Jalopnik.com Editor Ray Wert reveals the top three new cars on a value-basis, live from the NY Auto Show.
Chrysler is working hard to complete a deal with Fiat, but is also prepared if the deal doesn't go through, Vice Chairman and President Jim Press told CNBC Wednesday.
As I walk around the New York Auto Show and talk with executives from GM, Toyota, and Chrysler there is one question you hear over and over: Are buyers actually coming back into showrooms?
It sounds crazy: Just a week after the White House scolded Chrysler LLC for relying too much on gas guzzlers, the company is heading to a marquee auto show Wednesday to unveil a new SUV.
The bankruptcy option for GM seems to be gaining momentum. If the automaker does file for Chapter 11 protection, are you worried about unitended consequences?