Ford Motor Co aims to cut the number of its parts suppliers by almost half by the end of 2009 as the only U.S. automaker to avoid bankruptcy attempts to shore up its supply base at a time of deep financial stress for the industry.
General Motors Corp will do the heavy lifting to help meet the ambitious goal set by President Barack Obama of having one million plug-in hybrid and electric vehicles on U.S. roads by 2015, a GM executive said on Tuesday.
General Motors Corp plans to complete a 20 percent cut in its white-collar work force by October, a spokesman said on Tuesday.
A U.S. bankruptcy judge has denied a request from a small group of General Motors Corp bondholders to become an official committee in the bankruptcy case.
Ford Motor Co will receive nearly $5.9 billion in U.S. government loans to build fuel-efficient vehicles as the Obama administration deepened its commitment to reshaping the cash-strapped auto industry.
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.
While General Motor is struggling in US, its joint venture in Shanghai has sold its two millionth Buick in China as sales have grown rapidly, the auto giant said on Tuesday.
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.
Negotiations are under way between General Motors (GM) and Sichuan Tengzhong Heavy Industrial Machinery over the proposed purchase of Hummer, and the deal is a perfect fit according to GM’s CEO Jim Taylor.
Negotiations are under way between General Motors (GM) and Sichuan Tengzhong Heavy Industrial Machinery over the proposed purchase of Hummer, and the deal is a perfect fit according to GM’s CEO Jim Taylor.
A small group of General Motors Corp bondholders formally objected on Friday to the automaker's plans for a speedy sale of its assets in bankruptcy court, according to court documents.
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.
Swedish carmaker Saab secured a key court ruling on Wednesday to cut billions of crowns in debt, paving the way for its proposed takeover by local sportscar maker Koenigsegg.
Swedish carmaker Saab Automobile secured a key court ruling on Wednesday allowing it to cut billions of crowns of debt and paving the way for a takeover of the General Motors unit by local sportscar maker Koenigsegg.
Sweden's Koenigsegg, a niche manufacturer of some of the world's fastest and most expensive sports cars, has struck a deal to buy loss-making Saab Automobile from General Motors Corp, the companies said on Tuesday.
A federal judge gave bankrupt Delphi Corp (DPHIQ.PK) final approval on Tuesday to tap former parent General Motors Inc (GMGMQ.PK) for access to $250 million in funding that is expected to support the Troy, Michigan-based auto parts supplier until it can emerge from bankruptcy.
President Barack Obama, on Monday said the healthcare system is “a ticking bomb” which could send the U.S. government down the same road as that of General Motors and go broke if the healthcare system is not reformed.
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.
Sichuan Tengzhong Heavy Industrial Machinery, the surprise bidder for General Motors Corp's Hummer brand, said on Sunday the deal should be concluded in the coming quarter.
Activist investor Carl Icahn is considering making another attempt to take over bankrupt auto parts supplier Delphi Corp, the New York Post reported on Saturday.
