Wachovia Capital Markets upgraded Johnson Controls Inc to outperform, saying the auto parts maker was well positioned to generate strong earnings growth in 2010 and beyond.
Ford Motor Co executives face stockholders on Thursday to detail the automaker's plans to complete a turnaround without resorting to U.S. government help and steer clear of the industry collapse now swallowing rivals General Motors Corp and Chrysler.
General Motors Corp and Chrysler aim to drop as many as 3,000 U.S. dealers and are expected to begin sending notifications as early as Thursday, three people briefed on the still developing plans said.
General Motors Corp and Chrysler plan to shed as many as 3,000 U.S. dealers, Reuters reported.
Ford Motor Co said on Tuesday that it raised $1.4 billion through a 300 million share offer for $4.75 per share, a move that its chief executive said was an important step toward getting profitable again.
Eight hundred of Chrysler’s 2,400 dealers will be dropped and finance agreements will be renegotiated according to dealers who participated in a conference call with a lawyer, the Detroit Free Press reported.
General Motors Corp shares hit there lowest level since the Great Depression on Tuesday and Nissan Motor Co posted a loss and expected more amid the deep global auto downturn.
General Motors Corp stock plunged more than 22 percent to a 76-year low on Tuesday, a day after GM's top executives dumped their shares as the automaker heads toward a bankruptcy or a restructuring that would all but wipe out existing shareholders.
General Motors Corp. is considering all options to cut costs, even moving out of its Detroit headquarters, but no decision has been made, chief executive Fritz Henderson said on Monday.
The potential for changes in the blue-chip Dow Jones industrial average remains high, according to the head of the index's oversight committee, the same day the head of General Motors said bankruptcy had become more likely.
General Motors Corp is open to considering moving its headquarters from Detroit, selling U.S. plants and renegotiating its restructuring plan with its major union as it heads toward probable bankruptcy, the automaker's chief executive said on Monday.
General Motors Corp is open to considering moving its headquarters from Detroit, selling off U.S. plants and even renegotiating parts of its restructuring plan with its major union, the new chief executive said on Monday.
General Motors Corp CEO Fritz Henderson said Monday in a conference call the company was
Germany has a plan to protect the assets of carmaker Opel from creditors if its U.S. parent General Motors is forced into bankruptcy next month, German Economy Minister Karl-Theodor zu Guttenberg said in an interview with a German weekly.
A group of Chrysler LLC's dissident lenders disbanded, representatives said on Friday, removing the last legal hurdle to the automaker's quest to complete a merger with Italy's Fiat SpA with U.S. government backing.
General Motors Corp said it burned through $10.2 billion in the first quarter as it relied on a federal bailout to ride out a sharp decline in global sales that overwhelmed its cost-cutting efforts.
General Motors Corp said it burned through $10.2 billion in the first quarter as it relied on a federal bailout to ride out a sharp decline in global sales that overwhelmed its cost-cutting efforts.
U.S. car maker General Motors Corp could take a stake in the company that would be created by merging its European car business with Fiat SpA's auto unit, a source close to the situation said on Thursday.
Ford Motor Co's sale of Volvo is moving ahead as it runs due diligence on the remaining bidders, and a buyer could be announced by the end of this month or next, two sources familiar with the matter told Reuters.
General Motors Corp said it burned through $10.2 billion in the first quarter as it failed to cut costs fast enough to offset a sharp decline in global sales and was kept afloat by a federal bailout.
U.S. car maker General Motors Corp is eyeing a stake in Fiat SpA's car business in exchange for its European and Latin American operations, the New York Times reported on its website.
U.S. carmaker General Motors Corp is eyeing a stake in Italian peer Fiat SpA in exchange for the American automaker's European and Latin American operations, the New York Times reported on its website.
