Chrysler Plunges Into China Trade

GM, burning through $1B monthly, seeks a cash infusion, cost savings

(NEWSER) - Talks of a General Motors-Chrysler merger are on the fast-track, the Wall Street Journal reports, with lenders pushing for a deal to be completed as soon as the end of the month. Amid a historically dismal month for US auto sales, GM is scrambling to shore up a bleeding balance sheet while banks see an opportunity to reduce exposure in the auto industry. More»

To return to profitability, car maker may restructure its vehicle and dealer lineup

(NEWSER) - Clued-in dealers say Chrysler is considering a restructuring plan to simplify its lineup: Chrysler dealers would sell all the company’s passenger cars, Jeep dealers would carry only Jeeps and SUVs, and Dodge dealers would handle commercial trucks and pickups. The reorganization would allow Chrysler to eliminate overlapping models and cut up to 1,000 underperforming dealers, reports the Wall Street Journal. More»

Ford highest-ranked carmaker overall, Toyota falls

(NEWSER) - American automakers scored higher marks on quality than their foreign rivals for the first time since the JD Power survey began in 1986, the Detroit Free Press reports. A dozen Ford models ranked in the top three in their segments, making it the highest-ranked automaker overall. Ford's namesake brand ranked fifth, and General Motors had 10 brands in the top vehicle rankings. More»

(NEWSER) - Chrysler is planning to produce a Fiat-branded subcompact car at a plant in Mexico, insiders tell the Wall Street Journal. The move may anger two key shareholders of the restructured automaker—the US government and the United Auto Workers. Workers at the Toluca, Mexico, plant are represented by a Mexican union, not the UAW. "There is going to be political fall-out on anything in this kind of environment related to jobs," says one analyst. More»

Administration triumphs as bankruptcy effectively ends

(NEWSER) - Chrysler finalized its sale of assets to Fiat with a government wire transfer this morning that gave Chrysler $6.6 billion in funds to exit bankruptcy, the New York Times reports. The sale is good news for the Obama administration, which sought an “efficient” restructuring for Chrysler. It may also provide a glimpse into the future of General Motors, also navigating bankruptcy. More»