U.S. taxpayers are still owed $132.9 billion by companies that benefited from the financial bailout and haven't fully repaid. Some of that money will never be recovered, a government watchdog said. Christy Romero, the acting special inspector general for the $700 billion bailout, has said the bailout that began in September of 2008, could actually last for several more years.
Ford Motor Co is poised to report its biggest annual profit in 13 years on Friday after an accounting change that signals the No. 2 U.S. automaker's belief it can remain profitable.
A new survey conducted by Deloitte suggested Gen Y consumers, generally between the ages of 19 and 31, prefer hybrids or electric vehicles -- vehicles with some electrified elements.
New car sales in January continued to rise at a steady pace, according to TrueCar.com, continuing the auto industry's slow but stable recovery.
Dan Akerson, the chairman and CEO of General Motors, began efforts to rebuild the image of the Chevrolet Volt in testimony delivered to a House Oversight and Government Reform Committee hearing in Washington.
General Motors has effectively cleared one hurdle in its quest to market the Chevrolet Volt to the mass market. But the bigger hurdle is the one that has remained throughout the Volt's existence: Are Americans ready for an electric car?
The White House released the State of the Union 2012 official special guest list Tuesday afternoon, and the people who have been invited represent different visions of the American Dream.
The Chevy Volt got a regulatory boost Friday after the National Highway Traffic Safety Administration concluded that Chevy Volts - and electric vehicles in general - did not pose additional fire safety risks, thereby saving the emerging auto market from becoming roiled in red tape.
Electric vehicles got a regulatory boost Friday after the National Highway Traffic Safety Administration concluded that Chevy Volts - and electric vehicles in general - did not pose additional fire safety risks.
The U.S. National Highway Traffic Safety Administration closed its investigation into fires in the Chevrolet Volt electric cars, concluding that Chevy Volts and other electric vehicles do not have an increased risk of fire compared to gas vehicles.
The last public days of the 2012 North American International Auto Show are winding down in Detroit. Here's a look back at the top cars at the show:
Stock index futures pointed to a slightly lower open for equities on Wall Street on Friday, with futures for the S&P 500, the Dow Jones and the Nasdaq 100 down 0.02 to 0.2 percent.
Volkswagen AG, which sold 8.16 million vehicles last year comes second.
General Motors has once again grabbed the largest share of global sales and become the world's largest automaker, moving past sales of Toyota and Volkswagen in 2011.
Hyundai said Tuesday that it was proud to rank highest among automotive brands in the J.D. Power and Associates 2012 Consumer Retention Study, attributing the honor to an expanding model lineup and better perceptions of Hyundai's quality and appeal across the board in recent years.
DETROIT -- Three years ago at the North American International Auto Show, Nissan North America vice president Al Castignetti watched as most companies dismissed perhaps Nissan's biggest risk -- its electric concept vehicle, the Nissan Leaf.
The average age of U.S. vehicles rose to a record high in 2011, but an automotive analysis firm expects that to decline in the coming years as new sales climb and consumers gain confidence in a recovering economy.
China's GDP growth in the fourth quarter of 2011 dipped to 8.9 percent, down from 9.1 percent in the prior quarter, but the Chinese government will likely take steps to ensure that a slowdown does not harm global manufacturers that increasingly look to China for new consumers.
DETROIT -- As Marc Harlow walked around Detroit's Cobo Center during the first day of the 2012 North American International Auto Show, he saw a different scene from recent years. To Harlow, one of the members of the show's public relations team, the buzz of the Detroit Auto Show had returned amid a brightening global outlook on the automotive industry.
DETROIT -- Five years ago, Bob Lutz stood in front of a curious crowd at the North American International Auto Show and introduced a radical concept car to the world. Lutz, then the vice chairman of product development for General Motors, revealed the first electric plug-in concept car from a major automaker: the Chevrolet Volt. He still calls it the most important car the company has ever made.
Investors have approved a year-long extension of a $4.7 billion property megafund from Morgan Stanley , a company spokesman told Reuters on Friday.
The car group reports selling 8.16 million sales last year, more than Toyota. Car group sales in India more than doubled, but General Motors could outshine the German automaker.
