by Ken Zino | May 8, 2009
Add another worry to the long list already attached to struggling automakers. GMAC, the storied company that supplies dealer and consumer financing for vehicles at General Motors since 1919, is in need of an additional $11.5 billion in capital, according to the U.S....
by Paul A. Eisenstein | May 8, 2009
Some folks wind up being hoisted on their own petard. In Tom Riall’s case, he’s been nailed by his own camera. The 49-year-old Riall is chief executive of the home affairs division for the British company Serco, and one of their best-known, if...
by Joseph Szczesny | May 7, 2009
General Motor lost money again in the first quarter of 2009 , and is just as certain to lose money again in the second quarter, given the company’s deep cuts in production now in the schedule. Bankruptcy, once unthinkable, seems unavoidable in the wake of the $6...
by Paul A. Eisenstein | May 7, 2009
It used to be a point of pride for Japanese makers, Toyota in particular. In fact, senior Asian executives could barely contain their glee at watching their Big Three Detroit rivals run up billions of dollars in costs on the rebates and other incentives needed to...
by Mike Davis | May 7, 2009
On April 30, the National Highway Traffic Safety Administration (NHTSA) issued a long-awaited — by Washington pressure groups anyway — notice of revisions to the roof-crush testing standard for all light vehicles. In essence, it doubled the standard for...
by Paul A. Eisenstein | May 7, 2009
Ford Motor Company is sending signals that suggest it could be nearing the sale of its loss-making Scandinavian subsidiary, Volvo. The U.S. maker has put on hold negotiations with the Swedish government that would have unlocked a €200 million loan tentatively approved...
by Ken Zino | May 7, 2009
General Motors Corporation reported a huge net loss of $6.0 billion this morning, including special items, which translates to -$9.78 per share in the first quarter of 2009. This compares with a reported net loss of $3.3 billion, or -$5.80 per share, in the year-ago...
by Paul A. Eisenstein | May 7, 2009
In the latest sign of a rapidly accelerating global automotive consolidation, Volkswagen and Porsche have agreed to merger. What’s unusual about the deal is that here the Goliath, Europe’s largest automaker, is effectively being taken over by the...
by Paul A. Eisenstein | May 6, 2009
Looking for the perfect gift for the tech-savvy mom on Mother’s Day? Forget flowers. Think about an iPod or, if your budget can stand it, a new Honda Odyssey. Those are some of the findings of a new study that defies the conventional wisdom about soccer moms....
by Joseph Szczesny | May 6, 2009
Loss making Ford Motor Company unveiled this morning a $550 million changeover at its Michigan Assembly Plant in Wayne from building trucks to assembling smaller, more fuel-efficient vehicles. The changeover represents a historic about face for executives at the...
by Ken Zino | May 6, 2009
House Democrats from the Committee on Energy and Commerce have finally agreed a compromise bill that would provide billions of dollars in taxpayer-financed incentives to vehicle buyers who trade in older vehicles for new ones. Buyers would receive a coupon, worth...
by Paul A. Eisenstein | May 6, 2009
With consumers steering clear of its showrooms, worried about the impact of the automaker’s bankruptcy, Chrysler LLC is launching a new round of incentives that could shave up to $6,000 off the “bottom line” cost of a new vehicle. To expand the...
