Ford Motor Co will receive nearly $5.9 billion in U.S. government loans to spur development of more fuel-efficient vehicles, the Obama administration said on Tuesday.
Ford Motor Co will receive a share of $25 billion in government loans designed to help automakers retool factories for making fuel-efficient cars, according to sources familiar with the decision by the Obama administration.
Detroit's top-selling auto brands, Ford and Chevrolet, have almost eliminated a long-criticized gap with Toyota in new car quality, according to a closely watched survey released on Monday.
European and Asian automakers are expected to build more vehicles in North America than Detroit's three automakers by 2012 following a sweeping restructuring of the domestic industry, according to a study released on Monday.
Fiat called on Italy's government and unions to back its efforts to maintain jobs while cutting output in the country and secured a commitment from Rome on Thursday for investment near two plants that could face cuts.
Ford Motor Co, the only U.S. automaker not to file for bankruptcy this year, has a sound balance sheet and is seeking to further reduce debt, Chief Executive Alan Mulally said on Wednesday.
Chrysler Group LLC said on Wednesday it will resume production of vehicles in seven North American assembly plants by the end of the month, the first large-scale resumption of production since the Fiat SpA led company acquired Chrysler assets earlier in June.
President Barack Obama and South Korean President Lee Myung-bak are expected to show a united front against North Korea when they meet on Tuesday, but they may not make much progress on free trade pact that has been stalled for two years.
Ford Motor Co has found advantages in going without the federal emergency aid that supports its domestic rivals, although the long-term implications of the government intervention are unclear, Ford Chairman Bill Ford said on Monday.
Virtually all dealers asked to do business with the new General Motors Corp after bankruptcy have agreed to do so, while the automaker will work through the weekend to weigh appeals from those that are being cut loose, the company's chief executive said on Friday.
More than 95 percent of eligible dealers at bankrupt General Motors Corp have signed on or verbally agreed to participate in the new company, Chief Executive Fritz Henderson said on Friday.
The U.S. government spent $287 million to purchase a total 17,205 fuel efficient vehicles from Ford, Chrysler and General Motors as of June 1 and aims to order $15 million more worth of advanced technology buses and electric vehicles, the General Services Administration said this week.
Fiat SpA closed its acquisition of Chrysler's strongest assets on Wednesday, a key step in the Italian carmaker's ambitious plan to create a global player to ride out the worldwide auto sales downturn.
Fiat SpA closed its acquisition of Chrysler's strongest assets on Wednesday, a key step in the Italian carmaker's ambitious plan to create a global player to ride out the worldwide auto sales downturn.
Shares of U.S. auto suppliers rose sharply on Wednesday as news that Italian automaker Fiat SpA had completed the purchase of Chrysler LLC's strongest assets erased fears that the U.S. car maker could face liquidation if the deal did not go through.
Chrysler LLC completed the sale of its strongest assets to a group led by Fiat SpA on Wednesday, reviving the 84-year-old automaker that was down to its last dollars and facing liquidation late last year.
Italian car maker Fiat SpA was set to close its takeover of Chrysler on Wednesday in an ambitious move to survive and grow out of one of the worst crises in global auto industry.
Italian car maker Fiat SpA was set to close its takeover of Chrysler on Wednesday in an ambitious move to survive and grow out of one of the worst crises in global auto industry.
The U.S. Supreme Court on Tuesday cleared the way for the sale of Chrysler LLC to Italy's Fiat, while General Motors began to revamp its widely criticized board by naming former AT&T Inc chief executive Ed Whitacre as chairman.
The Supreme Court on Tuesday cleared the way for the U.S. government-backed sale of Chrysler LLC to a group led by Italian carmaker Fiat SpA, a victory for the bankrupt automaker and the Obama administration.
The Supreme Court on Tuesday allowed the U.S. government-backed sale of Chrysler LLC to a group led by Italian carmaker Fiat SpA, a victory for the bankrupt automaker and the Obama administration.
Chrysler LLC won court approval on Tuesday to cut a quarter of its U.S. dealerships and the bankruptcy court judge overruled requests to delay the order until the U.S. Supreme Court rules on the sale of the company.
