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SUNDAY, NOVEMBER 22, 2009
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NEWS ABOUT: auto industry

auto industry stories: 496 news summaries

101 - 120 of 496 Stories | << Prev 1 2 3 4 5 6 7 8 9 10 ... 25 Next >>

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UPDATED

 GM to Close 1,100 Dealerships  


May 15, 09 9:20 AM CDT
(Newser) - GM has sent termination notices to 1,100 of its 6,000 US dealerships as part of its plan to eventually shutter 42% of its retail network, CNN reports. The dealers have been notified that their contracts won't be extended next October, and some will shutter this year, a GM... More »

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cost cutting • General Motors • auto industry • dealership • financial crisis

(Newser) - African-American and Latino car dealers will likely take a big hit in the dealership closures announced by Chrysler and planned at GM, the Wall Street Journal reports. The minority dealerships, located mainly in urban areas, have faced stiff competition as business has moved increasingly to suburbia. “We're more... More »

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Chrysler • African Americans • General Motors • minority • Latinos • auto industry • car dealers • dealership • Jay-ZTV

Chrysler Execs Dodge Bailout Pay Caps

As automaker cuts 3500, top employees will draw pay from Fiat

May 13, 09 5:52 AM CDT
(Newser) - Bankruptcy documents filed by Chrysler show that the chief executives of the bailed-out automaker will avoid executive pay restrictions—by declaring themselves employees of Fiat. Despite new Treasury rules that cap pay at $500,000 for execs whose firms received "extraordinary assistance," but Chrysler's top officers will be... More »

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Chrysler • executive compensation • auto industry • Fiat • recession depression

(Newser) - Eager to shore up its cash reserves, stave off bankruptcy, and further distance itself from its struggling rivals, Ford Motor Co. will offer 300 million shares in a public offering this week, the Wall Street Journal reports. Ford thinks the offering will raise investor confidence, bringing in buyers who’... More »

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stock market • Ford • auto industry • stock offering • Jay-ZTV

 Nascar Fans Lament 
 Chrysler's Decline 

Bankruptcy filing has diehards fearing for the fate of the once-mighty Dodge

May 9, 09 6:59 AM CDT
(Newser) - Chrysler's woes are making the Nascar faithful wistful for the days when Dodges ruled the track, the Wall Street Journal reports. The bankrupt automaker has promised to continue supporting the sport, but it has already cut funding by almost a third this year and its cars are now usually found... More »

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Chrysler • NASCAR • Dodge • auto industry • stock car racing • Richard Petty

 Toyota Forecasts 
 First-Ever Annual Loss 

$8.6B loss is far worse than anticipated

May 8, 09 5:29 AM CDT
(Newser) - Toyota forecast a 2009 loss of $8.6 billion, its first annual loss ever and one far deeper than anticipated, Reuters reports. Only last year Toyota posted record profits and climbed past GM to become the world's largest car maker, but the global downturn in the auto industry and a... More »

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Japan • Toyota • automaker • auto industry • Japanese auto industry

 Foreign Bidders 
 See Opportunity 
 in Detroit Mess 

As GM, Chrysler spin off units in their wake, the global auto landscape shifts

May 7, 09 8:25 AM CDT
(Newser) - With Chrysler in bankruptcy and General Motors at the precipice, foreign companies are preparing bids for parts of the US auto industry, the Wall Street Journal reports. The result will be a broad global reshuffling as companies like Italy’s Fiat, France’s Renault, and even China’s Geely buy... More »

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Chrysler • General Motors • auto industry • Fiat • automobile • Nissan-Renault • Saab • Opel • Geely Automobile Holdings

 GM Loses $6B in 
 Q1, Burns $10.2B 

The ailing automaker looks no closer to avoiding bankruptcy, CEO says

May 7, 09 7:29 AM CDT
(Newser) - General Motors lost nearly $6 billion in the first quarter, hampered by bankruptcy fears and slumping global sales. The company spent $10.2 billion while revenue declined to $22.43 billion—47% down from the previous year. However, the loss of $5.98 billion, or $9.78 a share, was... More »

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bankruptcy • General Motors • Detroit • earnings reports • auto industry

 Porsche, VW to Merge 

Luxury maker fails in takeover attempt

May 7, 09 4:53 AM CDT
(Newser) - Porsche has announced it will merge with Volkswagen after weeks of negotiation between the two German carmakers, reports the BBC. The deal puts an end to Porsche's efforts to take over VW. Porsche already owns a majority stake in the company. While details of the merger remain unclear, VW's individual... More »

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Germany • merger • Volkswagen • auto industry • Porsche • VW Group • Lower Saxony

Congress Nears 'Cash for Clunkers' Deal

Compromise would put voucher at $4,500, nix buy-American clause

May 6, 09 3:19 PM CDT
(Newser) - Congress is nearing agreement on a “cash for clunkers” plan that would pay Americans to give up their gas-guzzling vehicles. A House plan outlined yesterday focuses on cars and light trucks that yield less than 18 miles per gallon. Owners who junk those will receive a $3,500-$4,500... More »

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energy • Congress • fuel efficiency • auto industry • House Energy and Commerce Committee • gas consumption • President Obama • Cash for Clunkers

Renault May Acquire Saturn; Chinese Firm Bids for Saab

GM courts foreign buyers in fire sale

May 6, 09 1:07 PM CDT
(Newser) - Renault is in talks with General Motors about acquiring its Saturn brand, the Wall Street Journal reports. Demonstrating the considerable foreign interest in GM divisions, China’s Geely Automobile Holdings has submitted a bid for Saab. GM is looking to cut unprofitable units ahead of a June 1 restructuring deadline.... More »

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General Motors • Nissan • Saturn • auto industry • Renault • Saab • Geely Automobile Holdings

Judge Greenlights Chrysler Auction

Bankruptcy ruling starts clock ticking toward merger with Fiat

May 6, 09 2:21 AM CDT
(Newser) - A bankruptcy judge has given Chrysler approval to auction off most of its assets by May 27, the Detroit Free Press reports. The move—decided over the strenuous objections of some lenders holding Chrysler debt—is the first step toward the auto maker's proposed partnership with Fiat, which has offered... More »

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Chrysler • bankruptcy • mergers and acquisitions • auto industry • Fiat

(Newser) - Indian automaker Tata has 203,000 domestic orders for the Nano—the world’s cheapest car—which will start delivery in July, Bloomberg reports. The first editions of the $2,500 vehicle will go out to just 100,000 eager buyers, who will be chosen by lottery and must put... More »

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India • automaker • auto industry • Tata Nano • cars • thrift

Analysis

 US Auto Market Going Sane 


May 4, 09 12:50 PM CDT
(Newser) - After years of big cars and even bigger sales numbers, forces are conspiring to turn the US auto market into something much more like its European counterparts, the LA Times reports. Fashion statement SUVs are giving way to more efficient, more reliable cars, analysts say, which people are expected... More »

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fuel efficiency • SUV • auto industry • auto sales

Seeking Sales Bump,
GM Targets Middle East

New models will be introduced soon

May 4, 09 10:17 AM CDT
(Newser) - General Motors hopes to rebound from a 19% first-quarter drop in Middle East sales by introducing new models and helping buyers with down payments, Reuters reports. "There are a lot of people who walk into showrooms who aren't able to buy because they can't get financing," says the... More »

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Middle East • General Motors • Chevrolet • auto industry • auto sales • Hummer • automobile

Analysis

Chrysler's Honeymoon With Fiat Won't Last Long


May 1, 09 10:36 AM CDT
(Newser) - Chrysler is rushing into the arms of Fiat now, but it may be sorry later, writes Dan Neil for the Los Angeles Times. Fiat "pays next to nothing and now has instant access to US markets," which it’s been lusting after. "But in this... More »

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Chrysler • mergers and acquisitions • auto industry • Big Three • Fiat

(Newser) - The last time Fiat tried to make a go of it in the US market, its unreliable cars earned it the nickname Fix It Again Tony, reports the New York Times. That was 25 years and another world ago. After a renewed focus on quality under CEO Sergio Marchionne, the... More »

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Chrysler • bankruptcy • Detroit • auto industry • Fiat • Sergio Marchionne

(Newser) - President Obama said today that Chrysler’s impending bankruptcy is “not a sign of weakness but one more step” towards recovery, the Washington Post reports. The 1-to-2 month “surgical” bankruptcy—a time frame met with skepticism by experts—will give the automaker a “new lease on life,... More »

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Chrysler • bankruptcy • Robert Nardelli • auto industry • Obama administration • President Obama • auto bailout • creditor

updated

 Chrysler Talks Break Down; 
 Bankruptcy Expected Today 

Bankruptcy still looks likely for automaker

Apr 29, 09 11:14 PM CDT
(Newser) - Last-minute talks between the Treasury Department and Chrysler's creditors have broken down, making a bankruptcy filing nearly certain today, the Wall Street Journal reports. In other developments, the Detroit News says Italian automaker Fiat will still sign a deal today to forge an alliance with Chrysler. Under the bankruptcy plan... More »

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Chrysler • bankruptcy • Detroit • auto industry • Fiat

(Newser) - The Treasury Department struck a deal with Chrysler’s creditors last night to avoid what had looked like a probable bankruptcy, the Washington Post reports. The creditors, a disparate group of 45 financial firms, agreed to write down all but $2 billion of the $6.9 billion Chrysler owes... More »

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Chrysler • bankruptcy • debt • auto industry

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