Ford Motor Co and Japan's Nissan Motor Co Ltd will receive nearly $8 billion combined in U.S. government loans to spur development of fuel efficient vehicles, the U.S. Energy Department said on Tuesday.
Ford Motor Co will receive a share of $25 billion in government loans designed to help automakers retool factories for making fuel-efficient cars, according to sources familiar with the decision by the Obama administration.
Detroit's top-selling auto brands, Ford and Chevrolet, have almost eliminated a long-criticized gap with Toyota in new car quality, according to a closely watched survey released on Monday.
European and Asian automakers are expected to build more vehicles in North America than Detroit's three automakers by 2012 following a sweeping restructuring of the domestic industry, according to a study released on Monday.
Ford Motor Co, the only U.S. automaker not to file for bankruptcy this year, has a sound balance sheet and is seeking to further reduce debt, Chief Executive Alan Mulally said on Wednesday.
Former Presidential candidate Sen. John McCain bought the new 2010 Ford Fusion, a mid-size hybrid sedan.
Ford Motor Co has found advantages in going without the federal emergency aid that supports its domestic rivals, although the long-term implications of the government intervention are unclear, Ford Chairman Bill Ford said on Monday.
Bond giant Pacific Investment Management Co, billionaire Gerald J. Ford and a unit of money manager Legg Mason Inc are eyeing ways to buy up banks' toxic loans, the New York Post said.
Capstone Turbine Corp said one of its microturbine systems has been successfully integrated into a Ford Motor vehicle in the U.K., sending shares soaring 82 percent.
The U.S. government spent $287 million to purchase a total 17,205 fuel efficient vehicles from Ford, Chrysler and General Motors as of June 1 and aims to order $15 million more worth of advanced technology buses and electric vehicles, the General Services Administration said this week.
Ford Motor Co Chief Executive Alan Mulally said on Thursday that the U.S. economy was on the right track to begin improving in the second half of the year.
Beijing Automotive Industry Holding Corp is interested in buying Ford Motor Co's Volvo car unit, the Wall Street Journal reported, adding a new name to a list of potential Chinese bidders for the Swedish luxury car brand.
The U.S. automobile industry had quite a party during the recent credit-infused economic boom, but the hangover could last for years to come.
U.S. car sales fell again in May, dropping 34% to 925,824 vehicles, but showed some signs of stabilization as Ford, General Motors and Toyota reported their highest monthly totals this year.
U.S. auto sales fell nearly 34 percent in May from a year earlier, but aggressive discounting helped steady results for the battered industry, according to monthly results released on Tuesday.
U.S. auto sales fell nearly 34 percent in May from a year earlier, but aggressive discounting helped steady results for the battered industry, according to monthly results released on Tuesday.
Ford Motor Co said on Tuesday that U.S. sales fell 24.2 percent in May for all of its brands as the only U.S. automaker not in bankruptcy reported its strongest domestic sales month since July 2008.
The U.S. Senate could vote as early as Tuesday on a proposal to spur auto sales by underwriting some of the cost to consumers of buying fuel-efficient cars.
A late month surge in sales from Chrysler dealerships that are losing their franchises as part of the automaker's bankruptcy may have driven U.S. auto sales in May to levels above those seen in recent months.
Volvo Car Corp. announced on Monday a joint venture with Swedish energy firm Vattenfall to launch plug-in hybrid cars by 2012.
General Motors Corp will file for bankruptcy later on Monday, U.S. officials said, forcing the 100-year-old automaker once seen as a symbol of American economic might and dynamism into a new and uncertain era of government ownership.
General Motors Corp will file for bankruptcy on Monday, U.S. officials said, forcing the 100-year-old automaker once seen as a symbol of American economic might and dynamism into a new and uncertain era of government ownership.
