Ford places electric vehicles as center piece of turnaround plan
December 2, 2008 11:25:36 PM
To convince the U.S. government to handout a bailout loan of $9 billion, Ford announced their new Vehicle Electrification Plan. The plan includes intentions of releasing all-electric vans and sedans ...

Ford CEO Mulally Driving to Washington DC in Escape Hybrid
December 2, 2008 9:25:36 PM
Ford Motor Company CEO Alan Mulally will drive to D.C. in an Escape Hybrid to make a second plea for aid. Mulally has also agreed to cut his salary to 1 dollar a year if Ford gets government help. GM ...

Aston Martin to cut a third of workforce
December 2, 2008 2:55:00 PM
Luxury British marque Aston Martin will cut jobs to meet challenge of falling sales. The maker of luxury sports cars such as the Aston Martin DB9 and the Aston Martin Vantage has said it will sell les...

Officially Confirmed: Ford Considers Selling Volvo
December 1, 2008 8:19:20 PM
Cash strapped Ford has announced plans that it intends to re-evaluate their relationship with Volvo, which in non-PR speak translates into a sale of the brand.

Volvo & Saab Request Aid from Swedish Government
December 1, 2008 1:12:53 PM
GM and Ford are petitioning the Swedish industry ministry to aid their Saab and Ford brands respectively. The Swedish government is considering a 2 billion Krona (248 million US, or 195 million euro) ...

Toyota's Tripple A Credit Rating Downgraded
November 28, 2008 11:19:22 AM
Industry mood and current financial events have affected even the strongest of the strong players, Toyota Motor, to such an extent that its triple A rating with a top agency has been downgraded.

Porsche Loses High Court Bid Challenging Volkswagen Law
November 27, 2008 11:43:16 PM
A judge's ruling has set back Porsche's plans to accelerate its take-over of Volkswagen. Now Porsche is focusing on 2009 to consolidate control of its bigger 'baby'.

Saab, Saturn & Pontiac Brands Face the Chopping Block
November 27, 2008 7:31:51 PM
When the big three went to Capitol Hill looking for a $25 billion dollar government bailout, Congress had a clear message “No plan, no cash”. A plan being studied by GM is calling for the elimination...

Porsche sales hit - production stops - VW stake increase postponed
November 26, 2008 6:04:56 PM
Porsche is predicting that their revenue in the four months through November will fall 15 percent from a year ago, forcing them to re-evaluate their current strategy.

Big Three ready survival plan for Congress
November 25, 2008 1:27:52 PM
US automakers get a second chance, but must come up with a plan to save their industry. Congress is expecting detailed restructuring plans from all 3 Detroit automakers by December before it decides o...

Nissan Pulls Out of Detroit and Chicago Shows
November 25, 2008 1:44:26 AM
Auto show appearances are a great marketing tool, but lately they have become a great liability. So Nissan is having none of the Detroit Auto Show in January 2009, thus joining a list of other show qu...

More European automakers looking for government bailout
November 24, 2008 11:32:42 PM
European automakers are awaiting word on a possible 40 billion euro soft loan from the EU. Jaguar is in talks with the UK government for a 1 billion pound aid package for the troubled British premium ...

GM rules out bankruptcy
November 24, 2008 12:55:55 PM
GM board has reviewed a bankruptcy scenario but has ruled out Chapter 11 as a viable option. GM still betting that a US government bailout is its best chance for survival.

Opel may be better off without GM
November 22, 2008 12:39:38 AM
The German government has said it is open to providing a 1 billion euro loan guarantee for Opel as long as the money is used solely to sustain operations within Germany. It also says aid to Opel will ...

Big 3 bailout compromise reached - then vote cancelled
November 20, 2008 10:49:54 PM
Reaching a compromise key Senators drafted a bill that should see the $25 billion promised in September for factory retooling, being made immediately available as a kind of emergency cash bailout. How...

GM rejects offer to sell Opel
November 20, 2008 11:38:10 AM
German solar energy company SolarWorld makes a surprise offer to buy Opel, but GM says its German brand is not for sale.

No $25-billion bailout package for automakers - Senate vote canceled
November 20, 2008 10:18:50 AM
After a somewhat contentious day on Capital Hill it became obvious that representatives from the Big 3 failed to sway enough members of the United States Senate to back a measure to provide them with ...

American automaker's 25bn bailout looks doubtful
November 19, 2008 10:35:31 PM
Prospects for a bailout of US automakers continue to dim, as Republicans in Congress and President Bush continue to oppose a 25 billion dollar bailout package for the Big 3 auto companies.

Chrysler to run out of cash soon
November 19, 2008 12:30:45 PM
US giant Chrysler could be out of business before 2008 is over. A report by CEO Bob Nardelli details Chrysler's deep financial crisis which may end the company's fortunes very soon.

Congress puts forth bailout plan with strict demands
November 18, 2008 4:05:35 PM
Congressional leaders are willing to provide 25 billion dollars to the automakers, but not without strings attached. But still, the prospect of a bailout under the current administration remains slim.