CHRYSLER

The Obama administration is preparing to steer General Motors Corp into bankruptcy next week, The Washington Post reported on Thursday, citing sources familiar with the discussions.

The Obama administration may send General Motors Corp. into bankruptcy next week, giving the company billions of dollars in bailout funds to re-emerge as a viable firm, sources familiar with the matter told the Washington Post.

The U.S. Treasury Department said on Thursday it has put another $7.5 billion into auto lender GMAC to enable it to support both Chrysler LLC , and General Motors Corp Corp car buyers and partly meet a shortage of capital.

The Treasury Department is set to give GMAC LLC at least $7 billion in aid allowing it to expand lending to customers.

General Motors Corp cleared a key obstacle in its restructuring on Thursday as the United Auto Workers agreed to cut labor costs and accept new terms for a $20 billion union retiree healthcare obligation.

Fiat SpA is convinced it has more than a 50 percent chance of succeeding in its bid for Opel because it does not think the other contenders have the expertise to revive the car maker, an Italian newspaper said.

The head of Fiat SpA said it had more than a 50 percent chance of succeeding in its bid for Opel, adding that the other contenders did not have the expertise to save the struggling car maker, according to a newspaper report.

The pursuit of German carmaker Opel has narrowed to a three-way race between Italy's Fiat , Canadian-Austrian car parts group Magna and investment firm RHJ International.

Chrysler’s new chairman, Robert Kidder, a private-equity investor and former consultant who once worked for Ford Motor Co will lead the automaker currently reorganizing under court protection.

A judge declined on Wednesday to postpone Chrysler's bankruptcy to allow a district court to hear arguments about whether the U.S. government exceeded its authority in the reorganization of the automaker.

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.

Staring at the locked gates of a Fiat car factory, Mimmo Vacchiano says many families in this poor corner of southern Italy face a stark choice unless its turnstiles reopen.

Some auto dealers that Chrysler LLC plans to close are beginning a challenge to the automaker's plans to quickly sell itself in bankruptcy.

Cash-strapped General Motors said it expects at least three offers for German unit Opel by Wednesday's deadline, with Italy's Fiat eyeing plans to form Europe's biggest automaker.

After 100 years in business and 10 months of frenzied but failed restructuring, General Motors Corp is weeks from the bankruptcy filing experts say will be required to complete the Obama administration's bid to reshape a fallen icon of American industry.

General Motors Corp faces a government-imposed June 1 deadline to reach sweeping cost-cutting deals with bondholders and its union and has said it is probable it will follow rival Chrysler into bankruptcy.

General Motors Corp said it would drop about 1,600 U.S. dealers as it struggles to slash billions of dollars in operating costs and debt ahead of an anticipated bankruptcy filing by the end of the month.

General Motors has quietly roped off a bit of virtual real estate with an address similar to one used by Chrysler, that could serve as an information clearinghouse if GM seeks bankruptcy protection.

General Motors Corp said Friday it will drop about 1,600 U.S. dealers as it struggles to slash billions of dollars in operating costs and debt ahead of an anticipated bankruptcy filing by the end of the month.

General Motors Corp said Friday it will drop about 1,600 U.S. dealers as it struggles to slash billions of dollars in operating costs and debt ahead of an anticipated bankruptcy filing by the end of the month.

General Motors Corp plans to drop about 1,600 U.S. dealers as it struggles to slash billions of dollars in operating costs and debt ahead of an anticipated bankruptcy filing by the end of the month.