AUTO

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GM workers face uncertain future in hard times

At 8:15 a.m. ET on Monday, a General Motors executive gave hourly workers at its assembly plant here the news they feared most: the plant would close by October, robbing most of them of their jobs.

GM leaders enter bankruptcy with hope and regret

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The Interim Chairman of General Motors Corp Kent Krasa joined Chief Executive Officer Fritz Henderson today in stating his hope for a stronger, leaner company to emerge from the bankruptcy process which the company entered today but the chairman also added a note of regret in announcing the decision.

The big American gas-guzzler: Down but not out

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Even though U.S. pump prices are nearly half the $4 per gallon ($1.06 per liter) levels of a year ago, the legions of American fans of gas-guzzling SUVs and trucks don't have much to celebrate.
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Can

General Motors Corp has tens of billions of dollars in government backing, a grudging labor peace and the support of its big bondholders as it gets ready for what is intended to be a swift dash through one of the biggest bankruptcy cases in U.S. history.
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Obama vehicle plan another pothole for ethanol

President Barack Obama's tough fuel economy program for vehicles could put another damper on the struggling ethanol business, because the alternative fuel packs a lower energy content than gasoline.
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Green

The tough U.S. fuel economy standards announced by President Barack Obama on Tuesday represents a bonanza for companies that supply hybrid technology and other gas-conserving components needed to meet the new benchmarks.
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Obama takes aim at climate-warming car emissions

U.S. President Barack Obama took aim at climate-warming greenhouse gases on Tuesday and obliged the struggling auto industry to make more efficient cars by imposing tough national standards to cut emissions and increase gas mileage.
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Toyota cranks up heat on Honda with new Prius

Toyota Motor Corp said on Monday its new Prius had received pre-sale orders for 80,000 vehicles in Japan, kicking off what promises to be a fierce battle against hybrid rival Honda Motor Co.
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South Korea tries recharging road to power vehicles

South Korea's top technology university has developed a plan to power electric cars through recharging strips embedded in roadways that use a technology to transfer energy found in some electric toothbrushes.
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Honda CEO says 2009/10 is floor for earnings

Honda Motor Co's earnings will hit bottom this year and improve beyond that as demand in the United States returns in the second half, the Japanese automaker's chief executive said on Friday.
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Mapping The Chrysler Fallout

The map below demonstrates the chickenpox impact that just the initial round of Chrysler dealer shutdowns will have on the US economy. As is evident from the map (an interactive version of the map can be accessed here), the pain will be focused east of the Rockies, although major West Coast metropolises will not be spared either: every dot represents an automotive dealer that Chrysler disclosed to...
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Detroit Bankruptcy Quiz: Do We Hate Car Dealers as Much as Hedge Funds?

It was relatively easy for the Obamastration to dispense with a band of rogue hedge funds that were worrying the impending Chrysler-Fiat alliance. Once the names of the holdout creditors were made public, their revolt was crushed by public opinion. They used to be so, so cool, but we all hate hedge funds now.
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Honda to lift Japan output to meet extra demand

Honda Motor Co (7267.T) is taking steps to raise output in Japan in preparation for a likely uptick in demand if a bill to offer consumers cash to replace old cars becomes law, its chief financial officer said on Wednesday.
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Fiat may close one Italy plant: Italy union

Fiat (FIA.MI) is discussing closing one of its plants in Italy and reducing operations at another, German unions have told their Italian counterparts, an official of Italy's FIM-CISL union told Reuters on Wednesday.
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Congress under pressure as GM bankruptcy possible

With General Motors Corp planning to end production of Saturns and Pontiacs at its Delaware plant which employs more than 1,000 people, state leaders are scrambling to win new work at the facility or persuade the company to move other operations to the region.
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Ghosn: won't leave Nissan until profitable

Carlos Ghosn, chief executive of both Nissan Motor Co (7201.T) and Renault SA (RENA.PA), said he would not resign as the Japanese carmaker's chief before it was once again comfortably making profits.
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Ford Taunts GM, Chrysler With Stock Offering

The Wall Street Journal off-leads and Bloomberg reports that Ford Motor Co. (F), the most robust of the Big Three, plans to issue 300 million shares of common stock in a public offering that will further distance itself from its crosstown rivals and will take advantage of an 11-week stock rally.
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Chrysler nonunion retirees begin fight for benefits

Chrysler's 16,000 salaried retirees will start their fight this week for their benefits in the automaker's bankruptcy restructuring, with the potential to create a public relations headache for the company.
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Toyota downturn puts workers out on the streets

A growing number of auto workers are winding up on the streets in and around Toyota City in central Japan as the global downturn sends the world's biggest carmaker plunging into the red.
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Oppenheimer withdraws opposition to Chrysler plan

OppenheimerFunds, one of Chrysler LLC's dissident secured lenders, said on Friday it has decided to withdraw its opposition to the automaker's proposed debt restructuring plan as it no longer expects to increase its recovery rate.
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Court extends Delphi deadline to reach GM deal

Bankrupt U.S. auto parts maker Delphi Corp (DPHIQ.PK) won interim court approval of a two-week extension of the deadline for it to reach a funding agreement with General Motors Corp (GM.N), according to court documents.

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