GM Getting Back in the Groove
January 7, 2009 7:39:00 PM
GM believes they can return to profitability without asking for more bailout loans. The news comes as the company begins new concession talks with their largest labor union.

Honda Cancels All Sportscars Development Projects - including S2000 Successor
January 7, 2009 7:09:00 PM
New plans at Honda call for the end to the Honda S2000. Also dead are a series of Acura rear-wheel-drive vehicles, a new V8 engine, and the Honda CR-Z convertible.

Suzuki Kizashi sedan is alive again - official
January 6, 2009 11:27:32 PM
Suzuki has denied reports that it has killed production plans for its mid-sized sedan. The company says the production version of the sedan based on the Kizashi 3 concept will debut at the New York au...

GM to receive second Treasury loan installment of $5.4 billion on Jan. 16
January 6, 2009 10:53:54 PM
Troubled automaker GM will receive its second loan installment soon. GM will be getting a total of 9.4 billion US dollars this month. It may get an additional 4 billion more in February depending on U...

Toyota shuts plants for 11 days
January 6, 2009 8:03:34 PM
Toyota will put a halt to production for parts in February and March due to poor auto sales. The temporary cut is meant to decrease the surplus of unsold new cars held by the company.

Automakers Take Substantial Losses For 2008
January 6, 2009 6:33:34 PM
December 2008 was one of the worst months in recent history for automakers. Chrysler saw U.S. sales decline by over 50%, while GM, Toyota, Honda, and Ford all saw substantial decreases.

Nissan dealers will not make Detroit auto show either
January 6, 2009 5:03:34 PM
Nissan dealers have been asked by the brand not to participate in the Detroit auto show. When Nissan pulled out of the Detroit auto show in November, some local dealers said they wanted to fill in for...

Hyundai offers unprecedented WalkAway vehicle return program
January 6, 2009 3:41:28 PM
Hyundai is first ever automaker to offer job loss insurance on new car loans. In partnership with WALKAWAY USA, LLC, the automaker is offering a no-strings vehicle return insurance for customers who l...

Official: Porsche Increase Volkswagen Stake to Over 50%
January 5, 2009 11:26:33 PM
Porsche now owns 50.76 percent of VW shares but still does not control the German automaker. According to German law, a 75 percent share of the stockholder vote is required to exercise control of a co...

Suzuki Kills the Kizashi
January 5, 2009 10:56:33 PM
The brilliant Suzuki Kizashi concept was giving birth to a production sedan, spied several times. That was until the credit crunch. Now that car has been scrapped, at least for now.

GMAC gives up exclusive GM financing rights
January 5, 2009 6:56:33 PM
GMAC no longer has exclusive rights to finance GM car sales. As part of a government bailout of the troubled lender, car maker GM is free to seek financing for its dealers and customers from other len...

Chrysler gets first $4 billion of federal loan
January 5, 2009 5:26:33 PM
The troubled Detroit automaker gets its first bailout cash transfer. Chrysler will be getting an additional 5.4 billion US dollars in February and possibly more. The automaker has until March 31 to pr...

GM gets First $4Billion of Aid Package While Chysler Has to Wait
January 2, 2009 8:11:20 PM
GM finally gets first bailout installment, Chrysler still waiting. GM has received the first 4 billion US dollars of a total of 9.4 billion that it will be getting from the US government. Chrysler is ...

Pininfarina Family to Sell Majority Stake in Company
January 2, 2009 4:51:20 PM
The family at the helm of legendary Italian car designer Pininfarina is reportedly selling their stake in the company. Pininfarina's €600 million debt is seen as the reason behind the move.

Chrysler Thank You Ads Make America Cringe with Anger
December 31, 2008 5:14:11 PM
Americans don't seem to be appreciating Chrysler's expensive splash-out ads thanking the nation for their role in securing the automaker its bailout money.

GMAC Quickly Offers Car Loan Incentives in Wake of $5B Fed Bailout
December 30, 2008 9:04:50 PM
Car loan incentives are coming out thick and fast from General Motors after its $6 billion bailout by the US Treasury. Some of these are interest rates as low as zero percent.

Billionaire Kerkorian Sells Remaining Ford Shares
December 30, 2008 5:11:59 PM
Billionaire Kirk Kerkorian's third attempt to influence the U.S. auto industry has apparently failed. Pulling out of Ford completely, Kerkorian may have lost up to $700 million on his investment in t...

GMAC gets $6 billion from Fed
December 30, 2008 3:41:59 PM
GMAC, now officially a bank in the eyes of the US Treasury, will receive $6 billion in emergency loans from the government. The money is meant to keep the financial firm out of bankruptcy, while givi...

GMAC bank approved by Fed - elligible for TARP bailout funds
December 26, 2008 4:03:57 PM
US Federal Reserve allows GMAC to become a bank holding company, making it likely to receive federal aid. The move gives GM more breathing room, providing liquidity in its finance arm and allowing mor...

Canada Unveils C$4bn Auto Bailout Plan
December 22, 2008 1:26:42 PM
In a move matching the White House, Canada's government has decided to grant generous loans to GM and Chrysler in order to save the largest industrial segment in that country. Ford has refused the of...