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AutomotiveDigest.com - Automotive Industry News
Auto Industry Reprieve May be Short-Lived
Source: Posted: 01-06-2009 at 03:00:01
GM, Chrysler, and Detroit were all relieved by the $17.4 billion bridge loans announced before Christmas; but the companies have only until the end of March to find a workable way to move forward and survive -- otherwise they will likely need to be restructured via managed bankruptcies. Dealers, retirees, unions, suppliers, and bondholders will need to make concessions like never before, and fast, with the UAW likely to be under the greatest scrutiny of all.
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GMAC Gets Bank Status, Additional Federal Funds
Source: Posted: 01-06-2009 at 03:00:01
GMAC auto and mortgage finance company needs to remain solvent to assist GM dealers with buying inventory and GM customers in buying vehicles. The US Treasury Department invested an additional $6B in GMAC in efforts to save the company and demanded 8-9% returns and concessions on executive compensation limits. GMAC is still working toward meeting equity requirements that permitted its designation as a bank and eligibility for the bailout.
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Dealers Like Response to Ram but Worry Over Rollout
Source: Posted: 01-06-2009 at 03:00:01
The new Dodge Ram pickup is getting rave reviews for its unique coil-spring rear suspension. But dealers are worried over the lack of access to another anticipated feature, the Rambox storage. That feature can only be installed at the St. Louis plant, and all early Rams are coming from Michigan.
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BusinessWeek Online -- Auto Design
Bottoms Up! It's Champagne Chair Time
Source: Posted: 01-06-2009 at 09:00:03
Danish Supercar
Source: Posted: 01-06-2009 at 09:00:03
Driving the Ford Flex
Source: Posted: 01-06-2009 at 09:00:03
Ford Fusion Hybrid Due in 2009
Source: Posted: 01-06-2009 at 09:00:03
Harrah's New Twist on Prediction Markets
Source: Posted: 01-06-2009 at 09:00:03
Majora Carter: Greener Neighborhoods, Sustainable Jobs
Source: Posted: 01-06-2009 at 09:00:03
Why Online Ads Are Weathering the Recession
Source: Posted: 01-06-2009 at 09:00:03
Forbes.com Vehicle News
America's Foreign Automaker Capitals
Source: Posted: 01-06-2009 at 09:00:03
Forget the Big Three and Detroit. Foreign automakers have transformed several Southern towns--with more to come.
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Automakers - Topix.net
Billions in aid for auto industry will `keep lights on' for now: McGuinty
Source: Posted: 01-06-2009 at 06:00:13
Billions of taxpayer dollars aimed at bailing out struggling automakers will likely be used to "keep the lights on" rather than directly transform the companies into more innovative businesses, Ontario Premier ...
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GM says China '08 sales up 6 pct but growth slows
Source: Posted: 01-06-2009 at 12:00:14
General Motors Corp. said Tuesday its 2008 sales in China rose 6 percent to 1.09 million vehicles, but the growth rate slowed as consumers held back amid the economic downturn. GM is looking to China's booming auto market to drive global sales growth as North American demand slumps. In 2007, the Detroit-based automaker's sales rose 19 percent, including joint ventures. 'A series of natural disasters and an increase in fuel prices earlier in the year exacerbated the impact of the global economic downturn in China,' Kevin Wale, president of GM China, said in a statement.
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GM Delivers New Presidential Limo for Obama
Source: Posted: 01-06-2009 at 03:00:19
President-elect Barack Obama's new ride has arrived. The Detroit News reports Tuesday that a new model of a presidential limousine made by General Motors Corp.
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Hyundai: Can't Make Car Payments? Just Return It
Source: Posted: 01-06-2009 at 06:00:09
Can't make the payments on that new car you just bought? No problem -- just return it free of charge.
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Robert Bosch Corp. to lay off workers at company's plant in North Charleston
Source: Posted: 01-07-2009 at 12:01:03
Robert Bosch Corp. will trim about 10% of its 2,100-member work force in North Charleston, the company said Monday.
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US auto sales plunge whopping 36 percent in Dec.
Source: Posted: 01-06-2009 at 03:00:16
Huge rebates and zero-percent loans couldn't overcome economic uncertainty as U.S. auto sales plunged 36 percent in December, capping a dismal year that saw sales free-fall by 2.9 million vehicles from 2007.
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