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June 2009
- GM-Owning Feds Buy Rival Fords
  
  New York Times | Jun 11, 09 5:30 AM CDT
  
  (Newser) - The federal government isn't letting its stake in General Motors and Chrysler stop it from doing business with rivals, the New York Times reports. Ford, the only one of the Big Three not to receive bailout funds, won the biggest order in the General Services Administration's recent stimulus-funded $287 million purchase of fuel-efficient cars for the federal fleet. More »
- US Automakers See Sales Increase in May
  
  New York Times | Jun 2, 09 4:46 PM CDT
  
  (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 »
- As Rivals Flail, Ford Ramps Up Production
  
  Wall Street Journal | Jun 1, 09 6:41 AM CDT
  
  (Newser) - Hoping to profit from its rivals' pain, Ford will ramp up this year's third-quarter production 10% over last year's, in a bid to grab market share from GM and Chrysler as they recover from bankruptcy, the Wall Street Journal reports. It’ll be Ford’s first production bump in nearly two years. “This is a once-in-a-lifetime opportunity,” said a source from Ford, though he added, “No one is going to gift-wrap it for us. You have to deliver the product people want to buy.” More »
May 2009
- Big Three See Bumpy Road With 20-Somethings
  
  BusinessWeek | May 29, 09 2:23 PM CDT
  
  (Newser) - Detroit automakers face a hard road when it comes to Generation Y—consumers aged 22-32 whose business is crucial to securing the firms' futures, BusinessWeek reports. Their boomer parents broke from tradition by shifting to Japanese cars, and Gen Y is following in those footsteps. Detroit “simply must do much better with Gen Y than they did with their parents, or the comeback we keep hearing about may not happen,” says an analyst. More »
- Ford Courts GM, Chrysler Customers
  
  Detroit News | May 22, 09 12:25 PM CDT
  
  (Newser) - With General Motors and Chrysler struggling, Ford is moving to pick off some of its rivals’ customers, the Detroit News reports. The firm is passing cash to its dealers to ease Chrysler owners’ loan payments—so they can pick up Fords. Ford may soon do the same for GM owners. “We’re going to be aggressive, but we’re not going to be predatory,” said an exec. More »
- Ford Sells Shares to Raise Cash
  
  Wall Street Journal | May 12, 09 7:09 AM CDT
  
  (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’ve given up on GM and Chrysler. Priced off of today’s close, the sale could raise between $1.7 billion and $2 billion. More »
- Renault May Acquire Saturn; Chinese Firm Bids for Saab
  
  Wall Street Journal | 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. Buyers of Saturn and Saab likely wouldn’t put any cash down but would assume all costs of maintaining the divisions. More »
April 2009
- Ford Loses Just $1.4B, Turns Down Treasury Money
  
  Bloomberg | Apr 24, 09 6:49 AM CDT
  
  (Newser) - Ford announced today a loss of $1.4 billion for the first three months of 2009—its worst Q1 result in 17 years, but nevertheless one that beat expectations, Bloomberg reports. The automaker said it expected to break even or possibly turn a profit in 2011, and it would not seek any loans from the government as its rival Chrysler prepares for bankruptcy. Ford acknowledged today that it burned through $3.7 billion in cash as the auto crisis deepened. More »
- 'Car Bubble' Blows Up on Automakers
  
  Washington Post | Apr 3, 09 10:01 AM CDT
  
  (Newser) - The housing boom brought a car bubble along for the ride, and now that one has burst, so has the other, reports the Washington Post . Thousands of cars are sitting on lots and likely to stay there. “You had a huge number of cars being sold," says Steven Rattner, the head of President Obama’s auto industry team. “So I don't think it is prudent to assume the sale levels are going back to those levels.” More »
- More Big Auto Sales Drops: GM Off 45%, Ford 41%
  
  Associated Press | Apr 1, 09 1:57 PM CDT
  
  (Newser) - Automakers got hammered again last month, with Detroit’s Big Three all reporting big sales drops today. Ford’s light-vehicle numbers were down 41%, the AP reports; General Motors’ fell 44.7% and Chrysler’s 39.3%, the Wall Street Journal adds. Foreign manufacturers weren’t immune, either, with Toyota’s sales diving 39% and Volkswagen tumbling 19.7%. More »
- Rival Bankruptcies Spook Jealous Ford
  
  Wall Street Journal | Apr 1, 09 6:58 AM CDT
  
  (Newser) - Ford Motor Co., the lone member of the “Big Three” not to accept government help, is suddenly looking across town with dread and a touch of jealousy, the Wall Street Journal reports. A bankruptcy at GM or Chrysler could wreak havoc on Ford’s supply chain, as shared suppliers or dealerships buckled, all while giving the bankrupt competitors an edge by allowing them to exact deeper concessions from unions and creditors. More »
March 2009
- Ford to Make Car Payments for Buyers Who Lose Jobs
  
  Associated Press | Mar 31, 09 10:00 AM CDT
  
  (Newser) - With auto sales battered by the recession and tight credit, Ford is offering a payment protection plan to reassure consumers delaying buying new cars because of job-loss fears, the AP reports. The automaker will cover payments of up to $700 each month for up to a year on any new Ford, Lincoln, or Mercury if consumers lose their jobs. The program will run until June. More »
- AT&T Will Spend $565M to Green its Vehicle Fleet
  
  Detroit Free Press | Mar 11, 09 3:45 PM CDT
  
  (Newser) - AT&T pledged to spend $565 million to replace its current vehicle fleet with models that run on alternative fuels, the Detroit Free Press reports. The firm will buy over 15,000 hybrid and natural-gas-powered cars, mainly from Ford. AT&T billed the move as not only environmentally responsible but also as an act of economic stimulus—it estimates the move will save or create 1,000 jobs the next 5 years. More »
- Ford-UAW Deal Shows Detroit the Way Forward
  
  MarketWatch | Mar 10, 09 1:39 AM CDT
  
  (Newser) - The deal hammered out between Ford and the UAW offers Detroit a rare glimpse of hope for the future, Jim Jelter writes in MarketWatch . The deal, ratified by workers yesterday, lets Ford pay half its health-care costs for workers in shares instead of cash, binding workers fortunes' closer to the company and showing lawmakers that unions are willing to take a share of the burden in hard times, writes Jelter. More »
February 2009
- Auto Suppliers Seek Their Own Bailout
  
  Washington Post | Feb 26, 09 2:12 AM CST
  
  (Newser) - The auto industry is warning that it could collapse from the bottom up if the government doesn't immediately assist America's car parts suppliers, the Washington Post reports. Suppliers are struggling to use their unpaid billings to troubled automakers—usually 45 to 60 days behind deliveries—as collateral for operating loans, and may soon go under. "We're on the cusp of what could be cataclysmic," said an industry analyst. More »
- Auto Sales Off Again: GM 49%, Ford 40%, Toyota 32%
  
  Associated Press | Feb 3, 09 12:48 PM CST
  
  (AP) - Three automakers said today their US light-vehicle sales plummeted again in January: General Motors fell 49%, Ford 40% and Toyota 32%. It’s an abysmal start to 2009 for the industry as sales to fleet buyers like rental car companies weighed down the results. Chrysler and other automakers also are expected to report lower sales when they release their figures later today. More »
January 2009
- Ford Reports Record $14.6B Loss for 2008
  
  Bloomberg | Jan 29, 09 7:17 AM CST
  
  (Newser) - Ford Motor Co. today reported its worst year in its 105-year history, driving through more than $5.9 billion in cash in the fourth quarter on its way to a $14.6 billion loss for the year, reports Bloomberg. The company said it had enough cash reserves and credit available to survive without tapping into any government bailout money. More »
- Just What Is an 'American' Car?
  
  Wall Street Journal | Jan 26, 09 11:02 AM CST
  
  (Newser) - Lawmakers hoping to give a boost to the American economy by investing in the auto industry might get as much bang for their buck by sinking money into Honda or Toyota as they would Ford, Chrysler, or General Motors, the Wall Street Journa l notes. The auto industry has become too global to categorize as “American” or “foreign.” More »
- Resilient Detroit Will Come Back Strong
  
  Detroit Free Press | Jan 13, 09 5:52 PM CST
  
  (Newser) - When Congress bailed on aid for Detroit automakers last month, it felt like lawmakers "had just voted to turn the lights out on the Motor City," Detroiter Sarah Webster writes in the Free Press. But even as the Big Three dance dangerously close to bankruptcy, she refuses to concede loss. "We never give up," she says, noting the signs of progress at the city's auto show. "Resilience has been fused into our bones." More »
- Ford, Hyundai Win Top Wheels Honors
  
  Detroit News | Jan 12, 09 1:53 AM CST
  
  (Newser) - Here's some good news for ailing Detroit: The redesigned Ford F-150 was named North America's Truck of the Year yesterday by a team of journalists who preferred its design, handling, drive and value to the other finalists, the Dodge Ram and Mercedez ML320. Korean automakers clinched their first victory with the Hyundai Genesis, which was named Car of the Year, reports the Detroit News. More »