ILSAN, South Korea, April 2- General Motors Co on Thursday said its labor costs have risen nearly 50 percent over the past five years in South Korea, where it makes nearly one-fifth of its global output, but that it does not plan to shut any of its four plants there. That fueled analyst expectations about reduction in South Korea, where the U.S. automaker has flagged...» Read More
Schwarzenegger has come to personify what many in the domestic auto industry can't stand. He is unabashed in his belief auto makers can and should make cleaner, more fuel efficient vehicles.
Remember when Ford CEO Alan Mulally took over the top job at the auto maker and boldly pronounced, "We will win with great cars!"? I do. I remember thinking, "Well, this will be interesting to see if Ford can truly become competitive in cars."
Tonight Show host Jay Leno knows that. Which is one reason he is bringing "Jay's Comedy Stimulus Plan" to Detroit on April 7th and giving away tickets to anyone who says they are unemployed.
This afternoon, the UAW members at Ford overwhelmingly voted in favor of changing their contract with the auto maker.
When President Obama's Auto Task Force rolls into Detroit Monday it will spark another round of stories and speculation about when the Treasury Department will decide the fate of GM, and Chrysler. Don't hold your breath.
Shares of GM have been getting hammered due to growing speculation the beleaguered auto maker is edging closer to filing for bankruptcy.
As General Motors mulls spinning off its European unit Saab, the CEO of Electrolux, Hans Straberg, told CNBC that failing businesses should be allowed to go bankrupt and not receive any more state aid.
After General Motors issued its 10K report yesterday casting doubt on whether it can survive, there have been plenty of questions about why GM doesn't just go into bankruptcy.
General Motors' auditors have raised "substantial doubt" about the troubled automaker's ability to continue operations, and the company said it may have to seek bankruptcy protection if it can't execute a huge restructuring plan.
General Motors' says it gave Chief Executive Rick Wagoner compensation valued at $14.9 million last year for leading a company that lost $30.9 billion and is running on government loans.
Admit it. When you see the headlines of GM warning it could be forced into chapter 7 bankruptcy and liquidate, you likely have two reactions. First, you say "Duh! These guys have been hanging on by a thread, of course they could go under."
Autonation CEO Mike Jackson said today that despite the government’s push towards fuel-efficient vehicles, the creation of green cars will not spur auto sales.
After years of getting into the habit of buying or leasing a new car every 3 or 4 years, or even going one step further and buying a third car for a house with only two drivers, Americans are pulling back.
Members of the General Motors bondholders committee will be meeting with President Barack Obama’s auto task force on Thursday in Washington, CNBC has confirmed.
February auto sales are shaping up to be as weak, if not weaker, than the poor results posted in January.
Ford's February auto sales fell a whopping 48.4%, which will re-enforce fears the the economy continues to stumble.
Geneva is hosting auto manufacturers from all over for the globe this week for the 79th International Motor Show. It’s no secret that the auto industry has been hit particularly hard since the onset of the recession, but as the as this year’s motto says, "the show must go on."
This may be the best time to get the deal you want on a new car or truck. In fact, if you can stomach the idea of taking on an auto loan in this economy, dealers will bend over backwards to get you in the new ride you want.
General Motors subsidiary Opel needs $7 billion of aid, Vice Chairman of General Motors, Bob Lutz, told CNBC at the Geneva Motor Show.
General Motors expects weak sales in the US for February, which will be an "exceptionally weak" fleet month for automakers, GM's chief operating officer told CNBC.