Ford Motor Co posted a smaller-than-expected first-quarter loss and said it was on track to at least break even in 2011 and did not expect to seek U.S. government loans, sending its shares up more than 22 percent.
A powerful German labor leader poured scorn on the idea of a bid from Fiat for struggling German car maker Opel, saying on Friday he favored an investor such as Canadian car-part maker Magna.
Ford Motor Co (F.N: Quote, Profile, Research, Stock Buzz) is expected to post a large first-quarter net loss amid the global economic downturn that has pressured results in the United States, Western Europe and other developed economies.
General Motors Corp said on Thursday it would slash production over the next three months to cut its inventory of cars and trucks and avoid the risk of an uncontrolled shutdown from the financial crisis at bankrupt supplier Delphi Corp .
Struggling U.S. carmaker General Motors Corp is moving nearer to a deal to offload its Opel unit, having found a prospective buyer in Italy's Fiat SpA , an Opel supervisory board member said on Thursday.
Struggling U.S. carmaker General Motors Corp appeared set for a deal next week to offload a majority stake in its German unit Opel, having found a buyer in Italy's Fiat SpA , among others.
Fiat will sign on Tuesday a letter of intent to buy a majority stake in General Motors' struggling Opel unit, the website of German magazine Spiegel said on Thursday, citing sources.
If any of the big three U.S. automakers is forced to sell assets in a liquidation, their brands and patents may attract the most interest, while the manufacturing assets could be a tough sell.
Toyota Motor Corp said on Thursday its group-wide sales fell 27 percent to 1.767 million vehicles in the first quarter of 2009, keeping it ahead of Volkswagen AG as the world's top-selling carmaker.
Political allies of the U.S. auto industry expressed serious concern on Wednesday to senior White House officials about possible carmaker bankruptcies with Chrysler LLC facing an April 30 deadline to cement an alliance to avert probable insolvency.
U.S. auto dealer representatives will meet with the government task force charged with retooling the auto industry on Thursday to make the case that a bankruptcy for General Motors Corp should not be an option, a dealer group said on Wednesday.
General Motors Corp is unlikely to make a $1 billion debt payment due June 1 because it expects to be in the process of restructuring its debt through a voluntary exchange or bankruptcy court by that point, a spokeswoman for the automaker said on Wednesday.
U.S. auto dealer representatives will meet with the government task force charged with retooling the auto industry on Thursday to make the case that a bankruptcy for General Motors Corp should not be an option, people briefed on the planned meeting told Reuters on Wednesday.
The Obama administration will make about $500 million available to Chrysler LLC through the end of this month as it seeks to reach an alliance with Fiat, and up to $5 billion through May to help General Motors Corp restructure outside of bankruptcy, an independent oversight report on the Treasury Department's corporate rescue fund said on Tuesday.
The Obama administration will make about $500 million available to Chrysler LLC through the end of this month as it seeks to reach an alliance with Fiat, and up to $5 billion through May to help General Motors Corp restructure outside of bankruptcy, an independent oversight report on the Treasury Department's corporate rescue fund said on Tuesday.
General Motors Corp said on Monday it is telling about 1,600 salaried U.S. employees this week to leave by May 1 as it scrambles to reduce costs under a restructuring mandated by the U.S. government.
General Motors Corp is cutting about 1,600 salaried jobs in the United States this week as it rushes to meet a June 1 deadline to restructure under U.S. government oversight, the automaker said on Monday.
Top auto executives projected sales growth of up to 10 percent this year in China, but this lone bright spot among the world's major car markets is also producing ambitious potential rivals to the global auto majors.
General Motors Corp is prepared to part with a controlling stake in Opel/Vauxhall for nothing but a pledge to invest directly in a new company formed from its European operations, the Financial Times said on Sunday, citing two people familiar with its plans.
General Motors Corp is prepared to part with a controlling stake in Opel/Vauxhall for nothing but a pledge to invest directly in a new company formed from its European operations, the Financial Times said on Sunday, citing two people familiar with its plans.
Amid growing expectations for more electric cars on U.S. roads, General Motors said last week standardized power plugs are needed considering that drivers will find outlet voltages that won’t be always the same.
Bernd Pischetsrieder, ex-CEO of Volkswagen, could be a suitable head of a new Opel company independent of troubled U.S. parent General Motors Corp, an Opel dealer group in Germany was quoted on Saturday as saying.
