Chrysler chief executive Bob Nardelli praised a court decision that opens up the way for the bankrupt firm to sell its assets, creating an alliance with Fiat SpA.
Bankrupt Chrysler has a clear path to an alliance with Italy's Fiat SpA, the U.S. company's chief executive said while rival Ford Motor Co reported on Wednesday it has sufficient liquidity and its restructuring remains on track, boosting its shares.
Dissident Chrysler lenders were identified on Wednesday in bankruptcy court, while Ford Motor Co said its restructuring remained on track and announced plans to convert an SUV plant to small-car production, pushing its shares higher.
Ford Motor Co's restructuring is on track and the automaker has sufficient liquidity to fund the plan, which includes converting plants and investing in future products, company executives said on Wednesday.
A U.S. bankruptcy judge approved bidding procedures for the rapid sale of most of Chrysler's assets, over objections from a group of lenders who called the accelerated timetable an absurdity.
General Motors is set to resume negotiations with the United Auto Workers union this week and believes everything should be open for discussion, the company's chief executive said on Tuesday.
Ford Motor Co on Wednesday unveiled a $550 million investment to convert an SUV plant near Detroit to build a new generation of Focus small cars next year and a battery-electric Focus in 2011.
A U.S. bankruptcy judge has approved bidding procedures for the rapid sale of most of bankrupt vehicle maker Chrysler's assets.
A U.S. bankruptcy judge on Tuesday considered whether Chrysler LLC could move forward with its plans for a quick sale of most of its assets while rival General Motors Corp prepared to resume talks with its union and detailed a plan that could shift majority ownership control to the U.S. government.
A U.S. bankruptcy judge on Tuesday considered whether Chrysler LLC could move forward with its plans for a quick sale of most of its assets while rival General Motors Corp prepared to resume talks with its union and detailed a plan that could shift majority ownership control to the U.S. government.
A small group of Chrysler's lenders who have objected to the Obama administration's plan for a quick dash through bankruptcy must identify themselves, in spite of death threats, a U.S. judge ruled on Tuesday.
FRANKFURT - The senior labor leader of German carmaker Opel (GM.N) warned that Fiat's (FIA.MI) ambitious growth strategy was an all-or-nothing bet, rejecting the Italian rival's takeover concept for the GM Europe brand.
A small group of Chrysler's lenders on Tuesday raised further objections to the Obama administration's plan for a quick dash through bankruptcy and called on the judge overseeing the case to block the effort.
This week, the Obama Administration failed to push through a reorganization plan for Chrysler that would have, among other things, used government bailout money to give the United Auto Workers a majority stake in the company.
Thresher Industries, Inc., a manufacturer of precision recycled aluminum and advanced metal matrix composite parts, announced this afternoon that it is developing a broad array of high-strength, cast aluminum components designed to help build cleaner, energy efficient vehicles. Thresher’s proprietary, biodegradable processes have already been successfully used in products for Chevrolet, Chrysler,...
A Chrysler lenders group objected on Tuesday to the automaker's plans for a quick sale of most of its assets in U.S. Bankruptcy Court, saying it is structured to achieve political goals, rather than economic ones.
U.S. automaker Chrysler LLC won interim court approval on Monday to access a $4.5 billion bankruptcy loan from the U.S. and Canadian governments, pushing it further along toward its planned sale to Italy's Fiat SPA .
(Corrects reference to public bankruptcy in 5th para)
Chrysler's car dealership network is on the verge of collapse, a U.S. bankruptcy court heard on Monday, as hundreds of dealerships have closed their doors this year and uncertainty about the company's future is driving consumers away.
Chrysler won interim approval from a U.S. bankruptcy court to access a $4.5 billion loan as it tried to move ahead in its planned alliance with Fiat SpA, while the Italian automaker advanced its bid for General Motors Corp's European Opel brand.
Chrysler asked the U.S. Bankruptcy Court on Monday for a swift hearing into its planned sale to Italy's Fiat SpA , eliciting immediate objections from some secured lenders.
A group of investment funds sought on Monday to block Chrysler's planned alliance with Fiat SpA, while the Italian automaker advanced its bid to overhaul the industry by setting its sights on Germany's Opel.
