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THURSDAY, NOVEMBER 26, 2009
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NEWS ABOUT: automaker

automaker stories: 76 news summaries

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ANALYSIS

 Bailout Would Help 
 German Giants, Too 

Detroit bankruptcies would ripple through entire industry's supply chain

Dec 10, 08 2:20 PM CST
(Newser) - German giants BMW and Daimler are rooting for a bailout of the Big Three, since a bankrupt Detroit would devastate sales and cripple parts-makers they all share, Bloomberg reports. The US is the top market for BMW, No. 2 for Daimler’s Mercedes-Benz. Meanwhile, Fiat, Peugeot, and Renault—which compete... More »

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Chrysler • Germany • Europe • General Motors • Daimler • Michigan • automaker • Ford • BMW • US automakers • financial crisis

 'We're Sorry, 
 Now Pay Up,' 
 GM Tells US 

Automaker apologizes for 'betraying' consumers, makes case for bailout

Dec 9, 08 3:36 AM CST
(Newser) - Remorseful General Motors paid for a full-page ad in Automotive News to tell America: "We have disappointed you." The ailing automaker admitted to manufacturing substandard and "lackluster" products, pushing SUVs on consumers, and committing to "unsustainable" union pay, reports the Washington Post. Before the ink could... More »

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General Motors • Michigan • automaker • apology • Big Three • US automakers • financial crisis

 Dem Leaders 
 Say OK to Auto 
 Bailout Plan 

Shocking jobs figures prompt lawmakers to support rescue

Dec 5, 08 8:19 PM CST
(Newser) - Democratic lawmakers will bail out the Big Three with billions of dollars in loans after all, the New York Times reports. Their change of heart, which comes after 2 days of auto exec hearings, was inspired by today's news that half a million Americans lost their jobs last month. Congress... More »

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Nancy Pelosi • Congress • automaker • Big Three • bailout • auto bailout

UPDATED

 Big 3 Execs Finish With Senate 

CEOs to make their case to the House tomorrow

Dec 4, 08 4:14 PM CST
(Newser) - The CEOs of the Big Three wrapped up a six-hour session with the Senate Banking Committee during which they asked for a minimum of $34 billion in aid, the Washington Post reports. Chairman Chris Dodd vowed to draft a bill “in the next 24-48 hours" that stood a chance... More »

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Chrysler • General Motors • automaker • Ford • Chris Dodd • auto industry • Big Three • Rick Wagoner • US automakers • bailout • auto bailout

Once United, Big 3 Take Different Roads to Bailout

Automaker bring different bailout concerns in appeal for federal aid

Dec 1, 08 9:53 AM CST
(Newser) - When the automakers return to Congress this week to beg for a federal bailout, they’ll no longer be presenting one case among them. Each company will unveil its own rejuvenation plan, reports the New York Times. Ford, in best financial shape, wants only the promise of access to federal... More »

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Congress • Chrysler • Congressional hearings • General Motors • automaker • Ford • Big Three • bailout • financial crisis

Put the Brakes on
Car Chiefs' Pay: UAW Boss

Loans necessary to escape temporary bind, he adds

Dec 1, 08 4:11 AM CST
(Newser) - The nation's Big Three automakers should pledge to limit executive pay—including bonuses and severance packages—in exchange for federal money, insists the president of the United Auto Workers. Ron Gettelfinger warned that everyone is going to have to tighten his belt, including the rank-and-file, in order to save jobs.... More »

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United Auto Workers • executive compensation • Michigan • wages • automaker • labor unions • Big Three • US automakers • golden parachutes

South Short on Sympathy for Detroit's Woes

Dixie welcomes foreign automakers and disses Big 3 bailout

Nov 29, 08 6:37 AM CST
(Newser) - West Point, Georgia, looks a lot like Main Street USA but its people aren't overflowing with pity for the struggling American auto industry, the Los Angeles Times reports. Kia Motors is building a plant in the town and residents are looking forward to new jobs and learning to love Korean... More »

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Georgia • automaker • union • Kia • auto industry • bailout • Southern United States • auto bailout

'Demand Accountability'
from Citi: Podesta

Transition boss discusses bailout, Cabinet

Nov 28, 08 10:32 AM CST
(Newser) - The government should “demand accountability” from Citigroup in return for bailout funding, Barack Obama’s transition team leader says. “If we’re going to have one rule, we ought to apply it to all of the financial institutions that we’re taking a look at,” John Podesta... More »

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Cabinet • Citigroup • automaker • auto industry • bailout • Eric Holder • John Podesta • President Obama

 Chinese Automakers 
 Seek US-Style Bailout 

Country's carmakers look to Beijing as slowdown puts the brakes on sales

Nov 19, 08 4:01 AM CST
(Newser) - China's automakers are looking to emulate a new Detroit invention—a bailout, the New York Times reports. After years of rapid expansion, the industry has been hit by a sudden slowdown as confidence crashes both home and abroad. Executives are now quietly pressing Beijing for a US-style rescue package to... More »

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China • automaker • Chinese economy • auto industry • bailout • cars • Chinese exports

GM Sales Off 45% as US Auto Sales Hit 25-Year Low

Asian brands add market share amid sales freefall

Nov 3, 08 10:43 PM CST
(Newser) - US auto sales dived in October to levels not seen since 1983, Bloomberg reports.  GM, Ford, and Chrysler saw sales drop 45%, 30%, and 36% respectively as credit dried up and consumer confidence plummeted. Toyota, Honda, and Nissan all saw sales fall over 20%, but managed to gain market... More »

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Chrysler • Toyota • General Motors • imports • Honda • Nissan • automaker • Ford • auto industry • auto sales

Car Dealers Write Off  Domestic Franchises

Groups writeoff value of franchises as economy shifts into low gear

Oct 29, 08 6:36 AM CDT
(Newser) - Two of the largest chains of car dealers report that their domestic auto franchises have become virtually worthless, the Wall Street Journal writes. The companies took a  a combined $51 million in writedowns for the third quarter, reflecting disappearing "franchise value"—the measure of potential profit—for dealerships... More »

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Chrysler • General Motors • automaker • Ford • financial crisis

 House OKs $25B Detroit Rescue 

Package of low-interest loans aims to prop up staggering auto industry

Sep 25, 08 3:29 AM CDT
(Newser) - The House has approved a $25 billion lifeline to Detroit's battered auto industry, the Detroit Free Press reports. The package of low-interest loans to help automakers switch to manufacturing more fuel-efficient vehicles is expected to be approved by the Senate today and signed by the president soon after. Michigan lawmakers... More »

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Chrysler • General Motors • Detroit • fuel efficiency • Michigan • automaker • Ford • auto industry • bailout • federal loans • rescue package

GM Rolls Out Volt Tomorrow; Hopes for Game-Changer

Automaker sees battery-powered car as
turning point for company, Detroit

Sep 15, 08 11:20 AM CDT
(Newser) - General Motors will unveil its new Chevy Volt tomorrow, hoping that the battery-operated car will reverse its long reputation as a gas-guzzling industry dinosaur and attract devotees of competitors' hybrids, reports the Wall Street Journal. GM hopes the Volt, a lithium-ion-powered car due to hit the market in 2010, can... More »

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alternative energy • General Motors • automaker • gas prices • electric cars • Chevrolet Volt

 GM Recalls 800K 
 Over Electric Issues 

Short circuit in wiper-fluid system may cause fires in popular SUVs, other models

Aug 29, 08 1:50 PM CDT
(Newser) - An electrical glitch has General Motors recalling 857,735 vehicles today, Reuters reports. GM will recall all cars with a heated windshield wiper fluid system for faults that may lead the system to short circuit, increasing the likelihood of fire or other electrical malfunctions. See below for a full list... More »

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General Motors • automaker • recall • product recall • auto industry • US automakers • fire

OPINION

 Volt Could Spark GM Bailout 

Electric car may be speedy route to green image—and help

Jul 2, 08 8:32 AM CDT
(Newser) - GM is about as likely to turn a profit with the Chevy Volt as the Edsel is to make a comeback, Holman W. Jenkins Jr. writes in the Wall Street Journal. But the ailing automaker may be aiming to improve its image rather than sell cars. With the automaker's image... More »

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General Motors • automaker • electric cars • auto industry • Rick Wagoner • Chevrolet Volt

McCain Offers $300M Prize
in Assault on Car Batteries

Republican calls energy security 'the great national challenge of our time'

Jun 23, 08 3:24 PM CDT
(Newser) - John McCain today offered a $300 million reward to the American who builds “a battery package that has the size, capacity, cost and power to leapfrog the commercially available plug-in hybrids or electric cars.” He said government had wasted energy money on special interests and failed to punish... More »

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John McCain • vehicle emissions • fuel efficiency • automaker • electric cars • prize

Plunging Truck Sales Drive Ford Deeper Into the Red

Shift away from large vehicles means a rocky road ahead for Detroit's Big 3

Jun 21, 08 9:12 AM CDT
(Newser) - Ford's recovery plans have been sent careening off the road by the continuing drop in truck and SUV sales, the Wall Street Journal reports. The company, which now expects this year's losses to top 2007's $2.7 billion, has given up hope of being back in the black by 2009.... More »

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Chrysler • General Motors • automaker • Ford • SUV • auto industry • trucks • pickup trucks

 Norwegian Electric Car
 Will Cruise US Streets 

Vehicle can log up to 110 miles on single charge

May 30, 08 1:00 PM CDT
(Newser) - An electric car that can travel up to 110 miles when fully charged will hit select US cities next year, the Wall Street Journal reports. The Think City, from Norwegian automaker Think Global AS, is already on the road in Norway, Sweden and Denmark, and will set American consumers back... More »

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pollution • Norway • automaker • Ford • gas prices • electric cars • auto industry • carbon emissions • Think Global AS

Earnings report

 US Woes Drive
 Toyota Profits
 Down 28% 

World's No. 2 automaker sees tough year ahead

May 8, 08 7:15 AM CDT
(Newser) - Even Toyota—with its array of popular gas-sipping vehicles—is struggling in a slumping global economy, according to the latest figures. The world’s No. 2 automaker today reported that earnings for the last quarter fell 28% to $3.05 billion from $4.2 billion a year ago, reports the... More »

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Toyota • automaker • corporate earnings • yen • auto industry • auto sales • economy

 Roadblocks Zap Electric  
 Carmakers' Momentum  

Infighting and broken promises mar ambitious companies

Apr 6, 08 3:12 PM CDT
(Newser) - The more than two dozen startups racing to produce viable electric cars face a bumpy road, the Los Angeles Times reports, as they navigate infighting, skyrocketing costs, and lack of mass-production know-how. Meanwhile, a successful car would face serious competition from several major automakers working on innovations of their own.... More »

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environment • California • automaker • lawsuit • electric cars • auto industry • Tesla

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