Members of the Obama administration's autos task force met for the first time with the national leadership of the United Auto Workers on Monday as part of a visit to the Detroit area where they again met with executives of General Motors Corp and Chrysler.
Members of the Obama administration's autos task force toured General Motors Corp and Chrysler facilities in the Detroit area on Monday, checking new technology and meeting with company executives.
Senior members of the Obama administration's auto industry task force are meeting on Friday at the White House to review the status of restructuring efforts at General Motors Corp and Chrysler LLC, officials said.
Ford Motor Co expects electric vehicles will represent a major portion of its lineup a decade from now as the automaker breaks away from a recent reliance on pickup trucks and SUVs, Chief Executive Alan Mulally said on Wednesday.
U.S. auto sales dropped by more than 41 percent in February to the lowest level in almost three decades as deepening economic uncertainty drove Americans away from big purchases and new debt despite aggressive discounts from major automakers.
U.S. auto sales dropped by more than 40 percent in February to the lowest level in almost three decades as Americans pulled back from taking on more debt in an economy showing signs of spiraling from bad to worse.
General Motors Corp has not revived consideration of a merger with smaller rival Chrysler LLC since calling off negotiations toward a deal last year, a senior executive said on Tuesday.
Chrysler vice-chairman Jim Press said on Tuesday the auto maker was hopeful the automaker had all the criteria necessary to receive additional U.S. government loans.
Chrysler vice-chairman Jim Press said on Tuesday the auto maker was hopeful the automaker had all the criteria necessary to receive additional U.S. government loans.
Auto sales likely hovered around 27-year lows in February as consumers mostly stayed away from buying big-ticket items, spooked by job losses, the deep recession and tight credit.
Auto sales likely hovered around 27-year lows in February as consumers mostly stayed away from buying big-ticket items, spooked by job losses, the deep recession and tight credit.
America's largest automaker has been left dependent on the kindness of strangers -- its fate in the hands of bureaucrats as much as car buyers.
Chrysler LLC, which is seeking $5 billion in additional federal aid to survive, has lowered the thermostat, dimmed the lights and stripped the clocks from the walls of its sprawling headquarters to save cash.
Ford Motor Co, which has not sought U.S. government emergency aid, said on Thursday it has adequate liquidity amid worsening industry conditions and has no doubt about its ability to continue as a going concern.
Chrysler Chief Executive Bob Nardelli was meeting on Wednesday with members of the U.S. auto industry task force as officials begin to review the automaker's request for up to $5 billion in additional aid.
Nardelli was joined in the meeting by Chrysler President Tom LaSorda, who heads the automaker's manufacturing operations, and Chief Financial Officer Ron Kolka, according to a person briefed ...
An Obama administration task force is carefully analyzing restructuring plans of General Motors Corp and Chrysler LLC , but bankruptcy is not the panel's goal, a U.S. senator said on Tuesday.
Democrat Carl Levin of Michigan met with task force members this week on the turnaround plans submitted by GM and Chrysler that include a request for $22 billion more in bailout m...
Ford Motor Co reached a tentative deal with the United Auto Workers that would slash cash payments for its retiree health care, while European governments ruled out rescue plans for General Motors Corp's struggling Opel and Saab units.
The U.S. Treasury also named Steven Rattner, co-founder of private equity firm Quadrangle Group, as an adviser on the restructuring of th...
is subject to ratification by active UAW-Ford members and other conditions, including concessions from other stakeholders.
The proposed modifications were expected to be presented to the union's local Ford leadership at a council meeting early this week, according to the unions.
The modifications will protect jobs for UAW members by ensuring the long-term viability of the company, UAW Pres...
Chinese automaker Beijing Automotive Industry Co said on Monday it has not had talks with Chrysler LLC about buying assets or technology from the U.S. company, denying a domestic media report.
The Chinese Business News, citing an unnamed executive at Beijing Auto, reported on Monday that it had initial talks with Chrysler on buying assets and technology as it seeks to expand globally via acquisit...
Outside advisers to the Treasury are lining up contingency financing options for General Motors Corp and Chrysler LLC as part of a review of restructuring options for the auto makers, a Treasury official said on Monday.
The official commented to Reuters after the Wall Street Journal reported that outside advisers to the Treasury were talking with lenders about financing of at least $40 billion fo...
The U.S. government should consider a proposed merger between Chrysler LLC and Italy's Fiat SpA if it is the only way for the distressed Detroit automaker to survive, a senator said on Thursday.
General Motors Corp is battling to survive collapsing auto demand, tight credit and uncertain prospects for recovery in its biggest markets.
