by Ken Zino | Feb 17, 2009
General Motors’ updated plan to the United States Department of Treasury not only asks for another $4.5 billion above the $18 billion it requested in December, but it expects billions more from Canadian and European governments. It is assuming that U.S. banks will...
by Ken Zino | Feb 17, 2009
Chrysler is asking U.S. taxpayers for an additional $2 billion to its original $7 billion loan request made to the U.S. Treasury Department last December. More money is needed because its revised estimates assume the U.S. industry will have a Seasonally Adjusted...
by Ken Zino | Feb 17, 2009
Chrysler and General Motors have submitted turnaround plans to the U.S. Department of Treasury that will determine the fates of ten of thousands of blue and white collar workers worldwide. Neither of the struggling companies will discuss details of their latest plans...
by Paul A. Eisenstein | Feb 17, 2009
Reports of Tesla’s demise apparently have been greatly exaggerated. Our apologies to Mark Twain, but if a note the California EV manufacturer has sent to customers is any indication, Tesla Motors is looking to charge up during the automotive downturn. The start-up,...
by Marty Bernstein | Feb 17, 2009
Mini dealers around the country will be open for open business in a few weeks with the new 2009 Mini convertible. The iconic Brit Brand, now a part of Germany’s BMW Group, has, in a few short years, arguably become the most unique brand in the world. This reputation,...
by John DeCicco | Feb 17, 2009
For years, the auto industry’s biggest complaint about fuel economy standards was, “You can’t make us build cars our customers don’t want to buy.” Of course, getting customers to buy their cars — or enough of them, anyway —...
by Paul A. Eisenstein | Feb 16, 2009
From luxury buyers worried about presenting the wrong image to hip Gen-Xers struggling to make their rent, never mind a car payment, the worsening economic crisis is leaving no automotive stone unturned. Brands that long seemed immune to recession are reeling, lately,...
by Ken Zino | Feb 16, 2009
Two key Democratic administration players sent a clear if contradictory message over the weekend to Chrysler and General Motors that they must radically reshape themselves by making profits while cutting costs and preserving jobs and benefits. This of course is what...
by Marty Bernstein | Feb 16, 2009
Michael Phelps, the eight gold medal winner at the recent Beijing Olympics, who last month was retained by Mazda (outside the U.S.) as a spokesperson for a reported $1 million was contrite and apologetic in a :52-second video airing in China to apologize for the...
by Paul A. Eisenstein | Feb 16, 2009
We’ve grown accustomed to seeing some strange and intriguing designs from Frank Rinderknecht, and his Swiss-based Rinspeed. Over the years, he’s turned up at the annual Geneva Motor Show with an assortment of automobiles that can fly, swim and, yes, even drive down...
by Joseph Szczesny | Feb 16, 2009
The U.S. apparently will have a de-facto Politburo, rather than a single car czar. The Obama administration reportedly is prepared to name a task force led by Treasury Secretary Timothy Geithner and National Economics Council Chairman Larry Summers. The third member...
by Paul A. Eisenstein | Feb 14, 2009
Underscoring the spreading impact of the global automotive downturn, Toyota Motor Co. plans to make extensive job cuts at operations in the U.S., Japan and elsewhere, while also trimming by as much as 10 percent the hours of operation at its U.S. assembly plants. The...
