Congressional leaders on Wednesday pressed General Motors Co and Chrysler to resolve complaints about dealer franchise terminations the automakers pushed through during their brief bankruptcies.
General Motors Co [GM.UL] said on Thursday that its U.S. September auto sales fell 45 percent, pressured by weak consumer confidence, low inventory levels and the end of the U.S. government cash for clunkers incentives.
Automakers and their suppliers must use the breathing space they have been given by bankruptcy and government programs to innovate and to create vehicles consumers want, said Corinne Ball, who led a team of attorneys representing Chrysler during its Chapter 11 reorganization.
Ford Motor Co (F.N) has room for steady growth in its share of the North American and European auto markets, Chief Executive Alan Mulally said on Wednesday.
Toyota Motor Corp (7203.T) and Ford Motor Co (F.N) are likely to outsell General Motors Co [GM.UL] in the U.S. market by 2015 -- when industry sales will finally return to levels last seen in 2000, according to an industry forecasting firm.
Fiat SpA (FIA.MI) will rush the first all-new Chrysler model to the U.S. market by the end of 2011 and create a new Ram brand for its truck line under a revival plan for Chrysler that will be shown to the U.S. government this week, people involved in the discussions said.
Congressional leaders on Wednesday pressed General Motors Co GM.UL and Chrysler to resolve complaints about dealer franchise terminations the automakers pushed through during their brief bankruptcies.
Executives from Chrysler Group LLC will meet the U.S. Treasury Department's auto task force this week, but no public statement is expected after the meeting, a Treasury official said on Tuesday.
U.S. auto sales likely fell in September back to the nearly three-decade lows of early 2009 without government incentives to spur buying, leaving in doubt the timing and pace of a recovery for the battered industry.
The Chrysler Group LLC board of directors met on Friday to discuss Chief Executive Sergio Marchionne's plan for revamping the automaker's product line-up at a time of sagging sales, a person with direct knowledge of the plans said.
A U.S. Treasury Department watchdog will study decisions by General Motors Co [GM.UL] and Chrysler to cut more than 2,000 dealers, a key bailout watchdog said on Thursday.
Fisker Automotive was awarded a $528.7 million U.S. government loan on Tuesday for development of gas-electric hybrid plug-ins.
Cost-savings talks between Ford Motor Co's (F.N) Canadian subsidiary and the Canadian Auto Workers union continued on Wednesday, but the union said Ford had so far failed to address its key issue.
Fisker Automotive was awarded a $528.7 million U.S. government loan on Tuesday for development of gas-electric hybrid plug-ins.
Canadian Prime Minister Stephen Harper announced C$54.8 million ($50.7 million) in aid to autoparts maker Linamar Corp (LNR.TO) on Monday to help it develop green and fuel-efficient automotive powertrains.
One of the best-known auto industry executives in the world has fallen on hard times.
Chrysler executive Jim Press has been sued by a California credit union for failing to repay more than $400,000 on a loan dating back to his stint as chief of Toyota Motor Corp's U.S. operations, court records show.
The global auto supply sector needs further consolidation, U.S. billionaire investor Wilbur Ross said, adding he was looking at potential acquisition targets, including at least one in Europe.
Chrysler Group said on Wednesday it would offer leases on its newest vehicles just over a year after sharply tighter credit markets and plunging vehicle values forced it to retreat from the market.
Chrysler Group said on Wednesday it would offer leases on its newest vehicles just over a year after sharply tighter credit markets and plunging vehicle values forced it to retreat from the market.
The European car industry could face a further shake-up with Asian companies pouncing on the chance to buy assets as China's Beijing Automotive Industry Holdings has done with Swedish car maker Saab.
Italy's Fiat (FIA.MI) can reach its target of selling between 5.5 and 6 million vehicles with Chrysler alone but the group still considers renewal of Italy's car sale incentives as vital.
