PARIS, Dec 28- The AirAsia aircraft that went missing on Sunday on its way to Singapore from Surabaya in Indonesia was delivered to its operator in 2008 and had recorded 23,000 flight hours on 13,600 flights, manufacturer Airbus said in a statement. Indonesia AirAsia Flight QZ8501, an Airbus 320-200 with 162 people aboard, lost contact with Jakarta air traffic...» Read More
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Orders to U.S. factories plunged in October by the sharpest amount in over eight years as a deepening recession caused big cutbacks in demand for steel, autos, computers and heavy machinery. Analysts expect the weakness will continue for some time.
Chrysler Vice Chairman Jim Press reiterated the need for government aid to help support the auto industry as he travels to hearings in Washington, D.C.
The current problems facing the automotive industry are a result of consumer fear, not the Big Three U.S. automakers, according to John Bergstrom, CEO of Bergstrom Automotive, one of America’s most powerful car dealership groups.
How did Dryships go from $116 to $4 in a little over half a year?
U.S. light vehicle sales at General Motors and Chrysler plunged more than 40 percent in November, while Ford's sales dropped 31 percent, battered by an economic storm that has sent consumer demand for new vehicles to lows not seen in decades.
This time, GM Chief Rick Wagoner will drive a company car to Washington instead of flying by corporate jet as he seeks a government bailout, a spokesman says.
General Motors will extend its holiday shutdown or make other production cuts at five factories at as it deals with a continued U.S. auto sales slump and fights to stay solvent.
Sales of many high-end luxury cars are bucking the trend of plummeting car sales, and their makers and industry watchers at the Los Angeles Auto Show this week are confident that they will weather the industry downturn just fine.
The Lightning Round is extended in this CNBC.com exclusive feature.
As Capitol Hill wrestles with a bailout of the Big Three Detroit automakers, CNBC decided to look into the Senate representation of the U.S. automotive manufacturing base. What follows is a state-by-state compilation of auto plants:
Chrysler hopes to restart merger talks with General Motors if the government comes up with a bailout package for automakers, the Financial Times reported Thursday.
Senate negotiators sought to craft a compromise plan to bail out US auto makers, though prospects for a deal before Congress adjourns for the year still appeared remote.
If the US auto industry is to survive, it will have to undergo a major transformation—slashing operations, focusing on fewer models, shedding dealerships and making better cars, analysts say.
Mexico's economy is struggling even more than ours, as 40 percent of the country's GDP is based on oil, and prices are plummeting (I saw gas in LA this week for only $2.25! Ay carumba!).
United Auto Workers President Ron Gettelfinger said it is critical the Big 3 receive a financial aid package from Congress to avoid one or more of Detroit's auto makers from sliding into a Chapter 7 bankruptcy.
Cramer makes the call on viewers' favorite stocks.
Democratic congressional leaders plan to begin work next week on a financial bailout for the troubled U.S. auto industry.
The push for an auto industry bailout gained momentum as House Speaker Nancy Pelosi said she would bring the House back next week to approve "emergency and limited financial assistance" for the battered industry.
The automotive industry is pushing for an emergency government loan of at least $25 billion to fend off a cash crunch. This so-called bridge loan would be in addition to a $25 billion loan Congress approved in September for the industry. CNBC asked the insiders to weigh in.