NHTSA is urging owners of more than 5 million vehicles to "act immediately" to get faulty air bags fixed. The New York Times reports.» Read More
A very important program—the TALF—is off to a slow start due to political risks surrounding the program.
Life in limbo is costing GM and Chrysler. New numbers show the residual values of GM and Chrysler cars have taken a hit. Meanwhile, another survey of car buyers shows a sizable drop in the percentage of buyers who are considering buying a GM or Chrysler.
The announcement by the Treasury Department that it will provide up to $5 Billion in federal aid is the next move by President Obama's auto task force to help the auto industry avoid a collapse.
What a difference a week makes. The combination of a market bounce, favorable news from GM, and reports of Ford planning to offer a $2.95 Billion in TALF-related bonds have sent shares of Ford and GM surging in the last week.
Congress is once again kicking around the idea of giving people an incentive to trade in their old car or truck for a newer, more fuel efficient model. It's an idea that has sparked demand for new cars in other countries around the world. And frankly, it is one of the few incentive programs that is a win/win situation.
Two weeks before the deadline for President Obama's Auto Task Force to decide whether or not to lend Chrysler, GM and suppliers billions more in Federal aid, Chrysler CEO is very clear: he needs a decision.
After almost a month of virtual silence by nearly everyone involved in the auto bailout talks, the primary players are starting to talk.
For pure "car lovers", the re-birth of the Chevy Camaro is like an early Christmas gift. A modern day muscle car (base sticker $22,995) built for people who live for the thrill of the drive. But...
When a stock trades down around $2.50 a share it's dangerous to make too much out of a dramatic move up or down.
Today, General Motors announced it no longer needs a $2 Billion dollar loan from the Treasury Department this month.
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.
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.
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."
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.
February auto sales are shaping up to be as weak, if not weaker, than the poor results posted in January.