Ford Motor Co posted a smaller-than-expected first-quarter loss and said it was on track to at least break even in 2011 and did not expect to seek U.S. government loans, sending its shares up as much as 20 percent.
With a week remaining for Chrysler LLC to clinch a deal with Italy's Fiat , the U.S. automaker is readying a bankruptcy plan but still focused on reaching an alliance with the support of the Obama administration, people with knowledge of the discussions said on Thursday.
Ford Motor Co posted a smaller-than-expected first-quarter loss and said it was on track to at least break even in 2011 and did not expect to seek U.S. government loans, sending its shares up more than 22 percent.
Ford Motor Co (F.N: Quote, Profile, Research, Stock Buzz) is expected to post a large first-quarter net loss amid the global economic downturn that has pressured results in the United States, Western Europe and other developed economies.
Chrysler LLC's first-lien lenders are preparing another counter-offer to the U.S. Treasury that involves reducing the automaker's debt, sources familiar with the matter said on Thursday.
Amid rumors of bankruptcy, Chrysler revealed it intends to make an all-electric version of its Town and Country minivans that will be sold exclusively to the U.S. Postal Service.
Preparations are underway by the Treasury department for the bankruptcy filing of Chrysler which could come as early as next week if Chrysler can swing a deal with its lenders, the New York Times reported.
The Treasury is preparing a Chapter 11 bankruptcy filing for Chrysler LLC that could come as soon as next week, The New York Times reported on Thursday, citing people with direct knowledge of the matter.
The Treasury is preparing a Chapter 11 bankruptcy filing for Chrysler LLC that could come as soon as next week, The New York Times reported on Thursday, citing people with direct knowledge of the matter.
General Motors moved closer to selling a majority stake in Opel, while the deadline for Chrysler to find a partner entered its final days, and Japan's Toyota kept its top global ranking even after reporting a 27 percent drop in sales.
The Treasury has raised its offer to Chrysler lenders with just over a week remaining for the embattled automaker to reach deals to cut its debt, labor costs and reach an alliance with Italy's Fiat SpA, sources said on Wednesday.
Italian industrial group Fiat SpA said on Thursday it was still in talks to form a partnership with ailing U.S. carmaker Chrysler , adding that it aimed to reach a deal by an April 30 deadline.
Struggling U.S. carmaker General Motors Corp is moving nearer to a deal to offload its Opel unit, having found a prospective buyer in Italy's Fiat SpA , an Opel supervisory board member said on Thursday.
Struggling U.S. carmaker General Motors Corp appeared set for a deal next week to offload a majority stake in its German unit Opel, having found a buyer in Italy's Fiat SpA , among others.
If any of the big three U.S. automakers is forced to sell assets in a liquidation, their brands and patents may attract the most interest, while the manufacturing assets could be a tough sell.
Political allies of the U.S. auto industry expressed serious concern on Wednesday to senior White House officials about possible carmaker bankruptcies with Chrysler LLC facing an April 30 deadline to cement an alliance to avert probable insolvency.
Plunging profit at Volkswagen (VOWG.DE), slumping sales at PSA Peugeot Citroen (PEUP.PA) and job cuts by Volvo (VOLVb.ST) on Wednesday highlighted the dire state of Europe's automotive industry.
Chrysler LLC's first-lien lenders have offered to take equity in a restructured automaker allied with Fiat SpA in exchange for writing off about 35 percent of the $7 billion they are owed, according to people with knowledge of the closed-door talks.
Chrysler LLC's first-lien lenders have submitted a counter-offer to the U.S. Treasury that would swap some $7 billion in debt for equity in a restructured automaker allied with Fiat SpA , according to a person with knowledge of the closed-door talks.
Fiat is totally focused on clinching a deal with U.S. car maker Chrysler LLC, a source close to the Italian industrial group said, even though top executives have said there are alternatives.
Fiat is totally focused on clinching a deal with U.S. car maker Chrysler LLC , a source close to the Italian industrial group said, even though top executives have said there are alternatives.
The Obama administration will make about $500 million available to Chrysler LLC through the end of this month as it seeks to reach an alliance with Fiat, and up to $5 billion through May to help General Motors Corp restructure outside of bankruptcy, an independent oversight report on the Treasury Department's corporate rescue fund said on Tuesday.
