New GM ready to exit bankruptcy
General Motors on Friday prepared to exit bankruptcy with the message that a leaner and meaner automaker ready to win back American consumers and pay back taxpayers has emerged from its failure.
GM prepares to exit bankruptcy on Friday
General Motors Corp prepared to announce its exit from bankruptcy on Friday after a 40-day reorganization under U.S. government backing that wiped away most of the debt and recurring costs that drove the 100-year-old automaker to crisis.
Auto parts maker Lear Corp files for bankruptcy
U.S. auto parts maker Lear Corp (LEAR.PK) filed for Chapter 11 bankruptcy protection on Tuesday, a day after setting out plans to restructure its $3.6 billion debt burden under a proposed deal with creditors.
Nissan exec says industry distress to continue
The global car market will take until 2013 to return to last year's sales levels, a senior executive at Nissan Motor Co said on Tuesday.
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Steadier auto sales a bit of good news for aluminum
Budding signs of stability in the ailing U.S. automotive sector will kick-start a quicker demand recovery for aluminum, even as the industrial metal's supply base in U.S. warehouses will continue to swell from the industry's severe downturn.
Report Puts Brakes on Slipping Auto Sales
The New York Times leads its
Ford sales jump, rest of Canada auto sector slumps
Ford Motor Co of Canada was the number one selling automaker in the country for the first time in 50 years as it posted a 25 percent jump in sales in June over a year earlier, the company said on Thursday.
U.S. June auto sales tumble, Ford takes share
U.S. auto sales tumbled 28 percent in June, the narrowest decline in nine months, as Ford Motor Co stole market share from its rivals.
June auto sales tumble, Ford takes share
U.S. auto sales tumbled in June as the economy remained a deep concern for consumers, but Ford Motor Co posted far better results than other large automakers and shot ahead of Detroit rivals passing through federally sponsored bankruptcies.
June auto sales show stability
Major automakers posted better U.S. auto sales for June than in recent months on Wednesday, led by Ford Motor Co as results pointed to signs of some stabilizing in the hard-hit industry.
GM seeks sale approval, official sees IPO in 2010
If General Motors wins court approval for its asset sale this week, a New GM could be ready to make an initial public offering in 2010, a U.S. Treasury official testified in U.S. bankruptcy court on Wednesday.
June auto sales show stability, led by Ford
Major automakers posted better U.S. auto sales for June than in recent months on Wednesday, led by Ford Motor Co as results pointed to signs of some stabilizing in the hard-hit industry.
U.S. to pull GM funding if sale not done by July 10
The only viable option to save General Motors Corp is a sale of its main assets to a New GM backed by the federal government, a U.S. Treasury official told a bankruptcy court on Wednesday as the automaker sought approval for the deal.
Ford U.S. sales fall 10.9 percent in June
Ford Motor Co said on Wednesday that U.S. sales fell 10.9 percent in June for all of its brands, at the top of its expectations for the only U.S. automaker not supported by emergency government loans.
GM back in court to seek approval for sale
The only viable option to save General Motors Corp is a sale of its main assets to a New GM, a U.S. Treasury official told a bankruptcy court on Wednesday as the automaker sought approval for the deal.
Fiat CEO says Chrysler cash burn slows: report
U.S. automaker Chrysler Group LLC has stemmed the pace at which it uses cash after emerging from bankruptcy last month as a slimmer company, Chief Executive Sergio Marchionne said in an interview with Bloomberg published on Wednesday.
Auto sales seen showing signs of stability
Major automakers are expected to report the highest sales rate of 2009 when they post results for June, as deep discounts limit industry-wide results to a 30-percent decline.
GM CEO makes case for bankruptcy asset sale
General Motors Corp's chief executive told a U.S. bankruptcy court on Tuesday that the sale of GM's main assets to government-backed New GM must win court approval in order for the automaker to survive.
US June auto sales seen showing signs of stability
Major automakers are expected to report the highest sales rate of 2009 when they post results for June, as deep discounts limit industry-wide results to a 30-percent decline.
Chrysler, Honda join TALF; sale boosted to $8.1 billion
The fifth round under the Federal Reserve's TALF program grew to $8.1 billion on Tuesday and is largely being shaped by auto ABS issuers as two new deals join the queue of securities offered ahead of the July 7's subscription deadline.
General Motors to seek approval to sell itself
General Motors Corp is heading to bankruptcy court on Tuesday to seek approval to sell its assets to a New GM in a plan to reinvigorate the automaker under U.S. government ownership.
Bankruptcy court to rule on New GM plan
General Motors Corp is heading to bankruptcy court on Tuesday to seek approval to sell its assets to a New GM in a plan to reinvigorate the automaker under U.S. government ownership.
Ford sees market share gains, increases production
Ford Motor Co said on Monday it expects to gain U.S. market share in June as its sales would hold up much better than the rest of the industry and signaled its increasing confidence by raising production.
Fiat open to retail and/or institutional bond: report
Italian automaker Fiat is open to issuing a bond for institutional or retail investors, or both, Chief Executive Sergio Marchionne said on Saturday, according to news agency Ansa.
Chrysler legal bill for bankruptcy: $12.7 million
Chrysler's dash through bankruptcy has cost $12.7 million in legal costs in its first month, according to a court filing.
Ford aims to halve number of suppliers
Ford Motor Co aims to cut the number of its parts suppliers by almost half by the end of 2009 as the only U.S. automaker to avoid bankruptcy attempts to shore up its supply base at a time of deep financial stress for the industry.
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