CNBC's Jon Fortt reports Google has announced "Project Wing" aiming to develop its drone delivery system, and Eamon Javers spoke with the FAA about unmanned vehicle regulations.» Read More
The United Auto Workers union has placed concession talks with General Motors on the back burner as it tries to reach a deal with Chrysler before an April 30 government deadline, two people briefed on the negotiations said Thursday.
President Barack Obama is calling for the country to move swiftly to a system of high-speed rail travel, saying it will relieve congestion, help clean the air and save on energy.
Nissan Motors CEO Carlos Ghosn said the company has the technology and the ability to produce cars that are going to be zero emissions by 2010 but also cost-friendly.
Somali pirates vowed to hunt down American ships and kill their sailors Wednesday and French forces detained 11 other hijackers in a high-seas raid, raising tensions a day after an abortive attack on a U.S. freighter loaded with food aid.
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.
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.
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.
There should be no military action by any nation to assist cargo ships hijacked by pirates. Why? Because that would be using a nation’s resources to assist an industry that invites and encourages pirates to do what they do by paying them ransom money.
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.
Motorcycle maker Harley-Davidson says its chief executive is retiring and will be replaced by an executive from car battery and interior maker Johnson Controls.
March sales fell sharply for General Motors, Ford Motor and Chrysler, but not as much as industry analysts had feared for any of the companies. Sales of Japanese automobiles also fell, though less steeply than they did for U.S. automakers.
Automakers were set to release their March U.S. vehicles sales on Tuesday amid continued uncertainty about the future of U.S.-based car makers.
The president's position on GM has not changed since Monday, a senior administration official said when asked to comment on a Bloomberg report which said Obama had determined a prepackaged bankruptcy was the best way for GM to restructure.
General Motors's new CEO, Fritz Henderson, said the automaker could file for bankruptcy before the end of the 60 days the government has given GM to restructure itself.
Ford Motor says it is offering a payment protection plan to help reassure consumers who may be putting off a car purchase because of worries about losing their job.
The White House's auto task force thinks that GM's latest offers to bond holders and auto workers will leave the company with too much debt and want the terms reduced even further, CNBC has learned.
President Obama asserted unprecedented government control over the auto industry, rejecting turnaround plans from GM and Chrysler and raising the prospect of controlled bankruptcy.
A look at the Obama administration's plan for General Motors and Chrysler:
Wagoner's resignation comes as the company awaits president Barack Obama's reports on efforts to save GM and Chrysler.
An offer from GM is a "first shot, a starting point" for negotiations, said a GM bondholder told CNBC, but "there’s great disparity between the bondholders versus labor."