Ford Motor Co said on Monday it had slashed automotive debt by 38 percent, or $9.9 billion, bolstering its finances amid a deep auto industry downturn and sending its shares up more than 13 percent.
Ford Motor Co has reduced its automotive debt by 38 percent, or $9.9 billion, part of a series of moves to bolster its finances amid a deep industry downturn, sending its shares up more than 11 percent.
Ford Motor Co has reduced its automotive debt by 38 percent, or $9.9 billion, part of a series of moves to bolster its finances amid a deep industry downturn, sending its shares up more than 11 percent.
A Swedish local court on Monday granted General Motors' loss-making unit Saab an extension of the period it is protected from creditors, giving it further time to restructure.
Bankruptcy is not inevitable for General Motors Corp, said the automaker's new chief executive on Sunday, who is under White House orders to win more concessions from bondholders and unionized workers.
U.S. automaker General Motors Corp will move quickly into bankruptcy if necessary, chief executive Fritz Henderson said in an interview with the Financial Times newspaper published on Friday.
Shares of major carmakers rallied on Thursday after better-than-expected sales in the United States and Europe encouraged hopes that a global auto market collapse could be nearing an end.
Hyundai Motor Group, the world's No. 5 automaker, will go ahead with plans to develop environment-friendly cars despite the segment's low profitability and an industry downturn, a senior executive said on Thursday.
Fears that a major U.S. automaker could seek bankruptcy protection are causing auto parts suppliers to demand quicker payments from the manufacturers, exacerbating problems for the already hard-pressed car makers.
U.S. auto sales fell 37 percent in March, a smaller-than-expected drop that encouraged hope that the world's largest car market is nearing a bottom after a freefall that has pulled the industry into a deepening crisis.
U.S. auto sales fell 37 percent in March, a smaller-than-expected drop that encouraged hope the world's largest car market is nearing a bottom after a freefall that has pulled the industry into a deepening crisis.
Changes to General Motors Corp's contract with the United Auto Workers union could save the automaker $1.1 billion or more in hourly labor costs, GM said in a report to the U.S. Treasury released on Wednesday.
Stocks climbed on Wednesday as factory and home sales data raised hopes the economic downturn is moderating, sparking a broad advance.
The U.S. auto industry's March sales met or beat Wall Street's dismal expectations, sending a bit of light into a sector struggling to mimic the incentive-driven successes of their European rivals.
GMAC Financial Services said it will resume making car and truck loans to subprime borrowers and will lower inventory financing costs for cash-strapped auto dealers, part of a series of moves intended to spur sales at General Motors Corp .
General Motors Corp on Wednesday reported a 45 percent decline in auto sales for March in the U.S. market, but the drop was broadly within expectations for the struggling automaker.
Stocks rose on Wednesday following factory and home sales data that may point to a healthier economy later in the year, boosting investor optimism.
Stocks added to gains on Wednesday as investors turned to financial stocks following factory and home sales data that showed the economic slump could be moderating.
Stocks rose on Wednesday as investors turned to financial stocks following factory and home sales data that showed the economic slump could be moderating.
The U.S. auto industry struggled to restructure and added deals to get buyers back into their showrooms, hoping to mimic the incentive-driven successes their European rivals started to see during March.
Stocks rose on Wednesday as data on home sales and manufacturing added to hopes that the economic slump was moderating, prompting investors to scoop up bank shares.
The Obama administration is seeking to ease General Motors Corp into a controlled bankruptcy by persuading some creditors to agree to a plan that would divide the company into two pieces, the New York Times reported on Wednesday.
