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January 2009
- Auto Sales Take a Drubbing in December
  
  MarketWatch | Jan 5, 09 1:28 PM CST
  
  (Newser) - Chrysler's sales were off 53% in December compared to the same time last year, the Wall Street Journal reports today, with Ford's off 32% and General Motors down 31%, further indicating a steep decline in US demand for cars. Foreign makers took an even harder hit last month: A 35% decline at Honda propelled that company to its first annual loss since 1993, Bloomberg says, while Toyota fell 37%. More »
December 2008
- Ford to Offer Self-Park Cars; Kerkorian Sells Stake
  
  Wall Street Journal | Dec 30, 08 10:19 AM CST
  
  (Newser) - Ford plans to offer two models with a self-parking function at the Detroit auto show next month, the Wall Street Journal reports, in the continuing effort to woo buyers with new technology. But the company's image among investors remains tarnished, as billionaire Kirk Kerkorian confirmed yesterday that he sold his remaining shares in the automaker. More »
- No Hope for Detroit Until We End Rip-Off Financing
  
  Mother Jones | Dec 24, 08 2:49 PM CST
  
  (Newser) - Congress' plan to bail out Detroit ignores one fundamental problem: Americans owe so much on their current cars—often more than the vehicles are worth—that they can't buy new ones, writes Stephanie Mencimer in Mother Jones . Detroit—along with the "great scourge of the American consumer market: the car dealer"—makes its real money selling not cars but dodgy loans. The result: negative equity for consumers, the same problem vexing the housing industry. More »
- Ford Scores PR Cred by Declining Bailout Cash
  
  Advertising Age | Dec 22, 08 9:05 AM CST
  
  (Newser) - Ford’s decision not to take any of the $17.4 billion in bailout cash granted General Motors and Chrysler is paying the company public-relations dividends that could translate into cash in its showrooms when the economy recovers, Advertising Age reports. It was also a good move, analysts say, to put out statements supporting its Detroit brethren. More »
- This Ain't Charity: Detroit Must Win Consumers Back
  
  Detroit Free Press | Dec 19, 08 4:51 PM CST
  
  (Newser) - With a $17.4 billion bailout in hand, Detroit must now turn toward restructuring and making the cars America needs, Mark Phelan writes in the Detroit Free Press . “To win back American buyers’ respect,” Phelan continues, “the automakers must show the aid package was a sound investment, not a handout.” That means smaller, fuel-efficient cars as good-looking as they are economical. More »
- 3 Detroit Finalists Up for Car, Truck of Year
  
  Detroit News | Dec 19, 08 2:20 AM CST
  
  (Newser) - Three Detroit-made vehicles are among six finalists for the 2009 North American Car and Truck of the Year awards, the Detroit News reports. The Ford Flex will compete with the Hyundai Genesis and the Volkswagen Jetta TDI for the year's best car, while the redesigned Ford F-150 and Dodge Ram pickups are up against the Mercedes-Benz ML320 BlueTEC SUV for best truck. The competitors were picked by a panel of US and Canadian automotive journalists. More »
- South Ensuring Detroit Won't Rise Again
  
  Salon | Dec 18, 08 1:20 PM CST
  
  (Newser) - It's no coincidence that Dixie senators derailed the Big Three bailout, since the South—with anti-union laws, low wages, and modest taxes—has built a counter-Detroit that will ensure that neither the Motor City or the South will rise again, Michael Lind writes in Salon. The same tactics were used to poach Northern textile factories early last century, he adds, calling for a "Third Reconstruction" that puts a halt to the South's spiraling "race to the bottom." More »
- Why Asian Automakers Don't Want Detroit to Fail
  
  CNNMoney | Dec 16, 08 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 suppliers around the globe and forcing dealer networks worldwide to replace failed brands. More »
- Bush: Auto Bailout 'Not Ready'
  
  Reuters | Dec 15, 08 3:58 AM CST
  
  (Newser) - The federal auto industry bailout appeared to be stuck in neutral as President Bush warned today that a deal is not imminent. "We're not quite ready to announce that yet," Bush told reporters on a plane to Afghanistan. Lawmakers expected the administration to quickly reallocate part of the $700 billion market-recovery pot after Congress failed to rescue the Big Three last week, Reuters reports. More »
- Detroit Failure Could Spark 'Economic Chaos'
  
  McClatchy Newspapers | Dec 13, 08 9:17 AM CST
  
  (Newser) - Letting one of the Big Three go under could have disastrous effects on many corners of the American economy, McClatchy Newspapers reports. Beyond the jobs lost at the companies and their suppliers—as well as the jobs lost everywhere those workers spend their wages—the repercussions would hit sectors as diverse as defense, television, and even sports. More »
- Auto Suppliers Panic as Detroit Collapse Nears
  
  New York Times | Dec 12, 08 5:30 AM CST
  
  (Newser) - The looming collapse of GM and Chrysler is sending shudders all the way down the supply chain, the New York Times reports. America's auto parts suppliers employ 600,000 people—more than twice as many as the Big Three automakers combined—but many suppliers are already stretched to the limit and will rapidly disappear if GM and Chrysler can't pay their bills. More »
- Dark Day for Detroit
  
  Detroit Free Press | Dec 12, 08 2:36 AM CST
  
  (Newser) - Detroit's bailout has crashed and burned, casting a pall on Michigan's future, the Detroit Free Press writes. The state knows the pain that comes with tough times in the auto industry all too well, and it's "incredible" that any American lawmaker "could want to watch these hard times turn so much harder for so many people," notes a Press editorial. More »
- As GOP Stiffens, Auto Bailout Prospects Hit the Skids
  
  Politico | Dec 11, 08 3:59 PM CST
  
  (Newser) - As Republican resistance to the $14 billion auto-industry bailout mounted, proponents flogged today's dismal unemployment figures to bolster their case, Politico reports. Mitch McConnell abandoned the White House, which continued to push the bill; the Senate minority leader unexpectedly said the measure "promises taxpayer money today for reforms that may or may not come tomorrow," The Hill reports. It's unclear when the Senate will vote on the legislation, which cleared the House yesterday. More »
- House Approves Auto Aid; Senate Prospects Are Iffy
  
  New York Times | Dec 10, 08 8:28 PM CST
  
  (Newser) - The House tonight passed a $14 billion rescue plan for GM and Chrysler, but the measure's fate in the Senate remains uncertain, the New York Times reports. The bill passed 237-170, largely along party lines. Republicans in the Senate have vowed to block or at least delay its progress because they want more concessions from the UAW and automakers. More »
- Bailout Would Help German Giants, Too
  
  Bloomberg | 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 with GM and Ford in Europe—worry the bailout will unfairly sway competition. More »
- Ford Eyes Chinese Buyer for Volvo
  
  Times (UK) | Dec 10, 08 3:40 AM CST
  
  (Newser) - Beleaguered Ford is poised to sell Volvo to a Chinese automaker, reports the Times of London. Ford and Volvo executives are in talks with Changan, Ford’s manufacturing partner in China—one of the country’s biggest car makers. Over the last two years Ford has sold Aston Martin, Jaguar and Land Rover, leaving Volvo—bought in 1999 for $6.5 billion—its last European subsidiary. More »
- White House, Dems Agree on $15B Auto Deal
  
  Detroit Free Press | Dec 9, 08 9:09 PM CST
  
  (Newser) - Democrats reached a tentative deal with the White House on a $15 billion rescue plan for GM and Chrysler, but unsatisfied Republicans threatened to block the deal, the Detroit Free Press reports. The measure could be presented to the House tomorrow morning and passed in the afternoon. But the Senate's a different story, and Harry Reid said key Republicans may filibuster if they don't wring more concessions from the automakers and the UAW. More »
- Big 3 Bailout Plan Goes to White House
  
  Associated Press | Dec 8, 08 3:38 PM CST
  
  (Newser) - A draft of the multibillion-dollar bailout agreement for the Big Three automakers went from Capitol Hill to the White House this afternoon and found a chilly reception, the AP reports. The draft legislation calls for a government watchdog appointed by the Bush administration to oversee the companies' operation, but its short-term provision for bridge loans to be extended as soon as this week appears to violate an agreement not to bail out companies deemed not viable. More »
- Dow Up 299 on Stimulus, Autos
  
  MarketWatch | Dec 8, 08 3:17 PM CST
  
  (Newser) - Stocks rallied today, led by automakers, which look ever likelier to get a federal bailout, and industrial firms expected to benefit from President-elect Barack Obama’s proposed public-works programs, MarketWatch reports. The Dow gained 298.76 to close at 8,934.18. The Nasdaq rose 62.43, closing at 1,571.74, while the S&P 500 climbed 33.63 to settle at 909.70. More »
- Calls Build for GM's Wagoner to 'Move On'
  
  Wall Street Journal | Dec 8, 08 6:31 AM CST
  
  (Newser) - Sen. Chris Dodd wants General Motors CEO Rick Wagoner “to move on” and a new management team in place if a government bailout is going to move forward, reports the Wall Street Journal. While not making it an outright condition for a rescue package, the Connecticut Democrat told CBS’ Face the Nation that "You've got to consider new leadership." More »