Chrysler Group LLC would need time to find a permanent and stable replacement for providing auto loans if it loses access to bank financing it shares with General Motors Co, Chrysler Chief Executive Sergio Marchionne said on Thursday.
Ford Motor Co executives at the annual meeting Thursday in Wilmington, Delaware, will have to make the case that the No. 2 U.S. automaker can outperform rivals in a recovering U.S. market as it did during the crushing downturn in auto sales that began in 2008.
General Motors Co is considering options that would give it a captive auto financing arm and allow its dealers to offer more competitive loans and lease deals, two people with knowledge of the plans said.
The last recession forced the auto industry to slash costs, shutter factories, tear up contracts and rely on government funding.
SAIC Motor Corp, China's biggest automaker, sold 33.7 percent more vehicles in April than a year earlier, as policy incentives continue to bolster automobile demand in the world's largest auto market.
Car sales in China and India, the world's two fastest growing major markets showed solid growth in April as government incentives and strong economic expansion continued to pull buyers into showrooms.
General Motors' European arm Opel expects to get by the end of May a final response from the German government to its request for aid, initially amounting to 1.5 billion euros ($2 billion).
General Motors Co said on Wednesday it has hired Hyundai Motor Co's highly regarded former marketing chief in the fourth shake-up of GM's sales organization since the automaker exited bankruptcy.
Auto sales rose about 20 percent in April from recession-stunted results a year earlier, reflecting a still-gradual recovery in the economy.
Auto sales rose about 20 percent in April from recession-stunted results a year earlier, reflecting a still-gradual recovery in the economy.
U.S. auto sales rose in April from recession-stunted results a year earlier, supported in part by incentives, led by Ford Motor Co and Hyundai Motor Co .
General Motors Co posted a 6.4 percent increase in U.S. auto sales for April from a year earlier, lagging an expected rise of about 20 percent in the overall industry which has been helped by incentives.
General Motors Co said on Friday that it expected to incur costs of 400 million euros ($532 million) for termination benefits covering 2,600 workers at an Antwerp, Belgium, plant it plans to close by the end of 2010.
Honda Motor Co forecast a smaller-than-expected 10 percent rise in full-year operating profit on Wednesday, warning tough competition would dent gains from improving sales in the United States and China.
General Motors Co on Tuesday said it would invest about $890 million to upgrade five North American plants to build the next-generation V8 engine for its full-sized pickup trucks.
The U.S. Treasury on Monday plans to start selling off its 27 percent stake in Citigroup , the latest step in the Obama administration's effort to end unpopular bailout programs.
Ford Motor Co is expected on Tuesday to post a first-quarter profit with North American production picking up amid a gradual recovery in U.S. auto industry sales overall.
When Ric Hull first looked at launching Great Wall Motor pickup trucks in Australia last year, he considered rebranding them, worried their obvious Chinese origins would raise questions about their quality.
Chinese car makers may have the world's largest market to play in but face many hurdles including a shortage of original models, an overcrowded industry and a lack of overseas acquisition targets before they can challenge for global leadership.
China's auto market, which overtook the United States as the world's largest last year thanks to a raft of policy incentives, has been a major bright spot amid a global industry downturn.
China's Jianghuai Automobile Group (600418.SS) has made progress in joint-venture talks with Caterpillar (CAT.N) and Navistar International Corp (NAV.N) and sees such a tie-up as key to its strategy to improve profitability and target export markets, an executive said.
General Motors Co believes taxpayers could recoup their entire $50 billion investment in the company although the Obama administration still expects the government to take a loss, albeit a smaller one than first thought, on the industry's 2009 bailout.
