Snappy newsletters. Simple Facebook sharing. Spirited comments. Sweet features are waiting… GET THEM NOW!

Why Asian Automakers Don't Want Detroit to Fail

Big Three bankruptcy would disrupt supply chain, further sour US economy

By Clay Dillow, Newser Staff

Posted Dec 16, 2008 11:01 AM CST

(Newser) – As Detroit’s Big Three await word on the fate of their much-needed bailout, an unlikely group of supporters has assembled in their corner: foreign automakers. A collapse of General Motors, Ford, or Chrysler would devastate overseas manufacturers as well, CNNMoney reports, spreading bankruptcy to... Read full story »

COMMENTS

Read the comment policy

You need to Log in to Newser to comment. Don't have an account yet? Sign up now!

There are no comments

A snapshot of the day's best news stories.

View Larger Grid

All Today Yesterday Pick a Date

What's Popular Now on Facebook

Miami Face-Eater Identified

Chagas Disease the 'New AIDS of the Americas'

CNN (Source Grid »)

Mason-Dixon divide on auto bailout views
Washington Post

Canada faces 600K jobless if Big Three fail
CBC (Canada)

Money • US • World

Chrysler • Toyota • General Motors • Detroit • Honda • Nissan • Ford • auto industry • Big Three • Tata Motors • bailout • financial crisis

More Newser Stories

US Automakers See Sales Increase in May

Ford, GM have best month of 2009

(NEWSER) - Some actual good news for the auto industry: All three US automakers saw sales of new cars jump from April to May, reports the New York Times. Granted, sales are still way down compared to last year, but the month-to-month leap offers a glimmer of hope among the bankruptcy headlines. Ford did best, with sales up 20% from April and down 24% from the previous May, the smallest yearly decline among all major automakers since October. More»

In DC Corral, the Big 3 Dare Congress to Shoot

Including a breakdown of the industry's ridiculous demands

(NEWSER) - The Big Three, their creditors, the unions, and Congress are locked in “a standoff worthy of a spaghetti western,” writes Steven Pearlstein in the Washington Post. “But none really wants to pull the trigger.” In the end, there’s little doubt Congress will step in, but lawmakers know they must get concessions from all parties first. Do the Big Three’s latest proposals fit the bill? Here’s how they break down: More»

Car Sales Jumped 14% Last Month

Chrysler, VW saw huge gains

(NEWSER) - Americans may be worried about the economy, but they still need to get where they’re going. Auto sales beat expectations last month, rising 14% to 994,721, their fastest sales pace since August 2009, reports the AP . Chrysler led the pack: The automaker’s sales jumped 45%, Reuters reports. Close behind was Volkswagen, whose sales soared 41%; Hyundai, Nissan, and Ford also saw double-digit gains. More»

Dodd Endorses Big 3 Bailout as CEOs Hit Hill Again

Senate Democrat enlisted to work on compromise package

(NEWSER) - Sen. Chris Dodd welcomed the Big Three CEOs back to the Senate Banking Committee today by declaring his support for an auto bailout, the AP reports. Chariman Dodd said inaction would be akin to playing “Russian Roulette with the economy.” He praised the automakers for making a better case for assistance than the financial industry, which won a $700 billion rescue plan. More»

Saving Detroit: It's Now or Never

Auto industry in danger of going under while lawmakers haggle over lifeline

(NEWSER) - If Congress is going to save America's auto industry it needs to quit the grandstanding and finger-pointing and take action right now, Tom Walsh writes in the Detroit Free Press. The Big Three have submitted their survival plans as requested, Walsh writes, and the figures show they aren't bluffing—they really will collapse without help. More»

NEWS FROM OUR PARTNERS

What is Newser?

Face it: there's too much news. At Newser, we choose the most thought-provoking and entertaining stories from hundreds of US and international sources and reduce them to a headline, picture, and two paragraphs. And we do it 24/7—you can come back morning, noon, night (and in between) for something new that matters. Read less, know more.

Learn more »

Partnering with: Slate

View Newser on the mobile website

Why Asian Automakers Don't Want Detroit to Fail

Big Three bankruptcy would disrupt supply chain, further sour US economy

Chrysler • Toyota • General Motors • Detroit • Honda • Nissan • Ford • auto industry • Big Three • Tata Motors • bailout • financial crisis

MOST POPULAR STORIES

[ By Views ]

[ By Comments ]

More Newser Stories

US Automakers See Sales Increase in May

Ford, GM have best month of 2009

In DC Corral, the Big 3 Dare Congress to Shoot

Including a breakdown of the industry's ridiculous demands

Car Sales Jumped 14% Last Month

Chrysler, VW saw huge gains

Dodd Endorses Big 3 Bailout as CEOs Hit Hill Again

Senate Democrat enlisted to work on compromise package

Saving Detroit: It's Now or Never

Auto industry in danger of going under while lawmakers haggle over lifeline

About Us

Site

Community

Site Maps

Tools

More News

What is Newser?