by Paul A. Eisenstein | Apr 30, 2009
Aiming to undercut the competition, and stop a precipitous sales drop, Mercedes-Benz is taking the dramatic step of cutting prices on its all-new, 2010 E-Class sedan by about 10%, despite the addition of “significant” amounts of new content on the updated...
by Ken Zino | Apr 30, 2009
At eight minutes past noon today the President of the United States strode into the Grand Foyer of the White House to speak on the Chrysler restructuring. It may as well have been the OK Corral by the time the President got done shooting down the outlaws that were...
by Joseph Szczesny | Apr 30, 2009
President Barack Obama rattled the windows around the car business with a “buy American” plea as he rolled out the administration’s plans for rebuilding Chrysler with help from Fiat. The American International Automobile Dealers Association responded...
by Ken Zino | Apr 30, 2009
GMAC Financial Services has just announced that it has entered into an agreement with Chrysler LLC to provide automotive financing products and services to Chrysler dealers and customers. Chrysler Finance will continue to carry the existing book of business for dealer...
by Ken Zino | Apr 30, 2009
Chrysler LLC today announced that, as a result of the comprehensive restructuring plan agreed to by many of its stakeholders, it has reached an agreement in principle to establish a global strategic alliance with Fiat SpA to form a new company. Unfortunately for...
by Ken Zino | Apr 30, 2009
The failure of some of Chrysler LLC’s creditors to agree to a debt-for-equity swap, tested President Obama’s patience for a month, but not his resolve or his readiness to save the once proud Michigan automaker from oblivion, and give it what he said would...
by Detroit Bureau | Apr 30, 2009
President Obama is expected to announce a successful deal between Chrysler and Italy’s Fiat during a noon news conference, TheDetroitBureau.com has learned. But due to problems with a few, reluctant lenders, it is expected that he will force a short,...
by Ken Zino | Apr 30, 2009
In a sign of difficult economic times, BorgWarner Incorporated posted this morning a negative swing of -$97 million in Q1, which is viewed by analysts as a good performance these days in the depressed auto supplier sector. The word’s largest maker of automatic...
by Paul A. Eisenstein | Apr 30, 2009
There’s something about spring in Northern Italy that makes you feel like you’ve stepped onto a movie set. Maybe it’s the soft light or the gentle breeze as our boat slowly rounds a bend on Lake Como and the lush grounds of Villa d’Este...
by Ken Zino | Apr 29, 2009
UAW members at Chrysler have overwhelmingly ratified a settlement agreement with Chrysler, Fiat and the U.S. Treasury that will allow the restructuring of the ailing company to go ahead. The remaining obstruction to a reorganized Chrysler this morning are hedge funds...
by Mike Davis | Apr 29, 2009
In truth, the Pontiac brand is not yet dead; it’s only had its death sentence pronounced by General Motors, in an April 27 announcement about adjustments to its February plan for survival that was rejected by the U. S. Treasury Department. The pronouncement came...
by Ken Zino | Apr 29, 2009
The controversy surrounding General Motors pending reorganization continues to attract disapproval from related firms struggling to survive the effects of GM’s forced transition to a drastically smaller auto company. For owners of GM vehicles and prospective...
