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Chrysler to idle all plants; 9 Ford sites on planned shutdown | detnews.com | The Detroit News Chrysler LLC, responding to a severe sales slump, tight credit and urgent need to preserve cash, will idle all of its North American manufacturing operations for at least 30 days beginning this Friday. And Ford Motor Co. has a planned shutdown affecting nine of its North American assembly plants for an extra week in January due to the slumping U.S. auto market, under previously announced plans to trim first quarter output. A tenth Ford facility, Kentucky Truck Plant in Louisville, is down for retooling... Article added: 2008-12-18 08:03:57 Article Views Rating: 143
Chrysler Financial asking dealers to cut back on loan requests | detnews.com | The Detroit News As the wait continues for government assistance for Chrysler LLC, anxious dealers have made inordinately higher requests for loans from Chrysler Financial to stock up on inventory. That has prompted a warning that loans may have to be temporarily suspended, according to a Dec. 12 letter from Chrysler Financial Chief Executive Officer Thomas Gilman obtained by The Detroit News. The letter states that daily requests by dealers from a fund used to pay off those loans were approaching $60 million, "well... Article added: 2008-12-18 08:03:57 Article Views Rating: 126
Chrysler to idle all plants | detnews.com | The Detroit News Chrysler LLC is shutting its North American production operations Friday for a month, the latest in a string of drastic cost-cutting measures it is making as it awaits word on emergency federal loans to prevent it from possibly having to file for bankruptcy. The Auburn Hills automaker said the action is a response to a severe sales slump, tight credit and an urgent need to preserve cash. All 30 of the company's assembly, engine and transmission plants in the United States, Canada and Mexico will close... Article added: 2008-12-18 08:03:56 Article Views Rating: 121
Chrysler to idle all plants; 9 Ford sites on planned shutdown | detnews.com | The Detroit News Chrysler LLC, responding to a severe sales slump, tight credit and urgent need to preserve cash, will idle all of its North American manufacturing operations for at least 30 days beginning this Friday. And Ford Motor Co. has a planned shutdown affecting nine of its North American assembly plants for an extra week in January due to the slumping U.S. auto market, under previously announced plans to trim first quarter output. A tenth Ford facility, Kentucky Truck Plant in Louisville, is down for retooling... Article added: 2008-12-18 08:03:23 Article Views Rating: 143
Chrysler Financial asking dealers to cut back on loan requests | detnews.com | The Detroit News As the wait continues for government assistance for Chrysler LLC, anxious dealers have made inordinately higher requests for loans from Chrysler Financial to stock up on inventory. That has prompted a warning that loans may have to be temporarily suspended, according to a Dec. 12 letter from Chrysler Financial Chief Executive Officer Thomas Gilman obtained by The Detroit News. The letter states that daily requests by dealers from a fund used to pay off those loans were approaching $60 million, "well... Article added: 2008-12-18 08:03:23 Article Views Rating: 113
Chrysler to idle all plants | detnews.com | The Detroit News Chrysler LLC is shutting its North American production operations Friday for a month, the latest in a string of drastic cost-cutting measures it is making as it awaits word on emergency federal loans to prevent it from possibly having to file for bankruptcy. The Auburn Hills automaker said the action is a response to a severe sales slump, tight credit and an urgent need to preserve cash. All 30 of the company's assembly, engine and transmission plants in the United States, Canada and Mexico will close... Article added: 2008-12-18 08:03:22 Article Views Rating: 121
Chrysler dealers chip in to help with the 2009 Detroit Auto Show It’s no surprise that Chrysler LLC is running out of cash very quickly. For that reason, the automaker is cutting back spending money on the upcoming 2009 Detroit Auto Show next month. It’s been reported that Chrysler has asked its local independent dealers to help out with some of the cost, according to the Detroit Free Press.Chrysler officials have been asking local dealers...[source] Article added: 2008-12-15 07:23:46 Article Views Rating: 149
Chrysler gas cards' value slips | detnews.com | The Detroit News Surprisingly, some people are longing for the bad old days of last summer when gasoline prices shot up above $4 a gallon. Remember Chrysler LLC's "Let's Refuel America!" Program over the summer? Car buyers had the choice of taking a rebate on their vehicle purchase or picking up a gas card entitling them to three years of gasoline at the low price of $2.99 a gallon. Now, that's not looking like such a great deal. The current price for regular is far less than $2 per gallon. The offer was a direct... Article added: 2008-12-15 07:23:41 Article Views Rating: 131
Analysts: Chrysler won’t survive with or without bailout funds Chrysler LLC, which is requesting $7 billion in loans before the end of 2008, is probably in the worst shape out of Detroit’s Big 3. According to CSM Worldwide forecasters, Chrysler does not have the power to survive as standalone automaker with or without government funding.“It would be best for everyone involved if Chrysler were allowed to gracefully wind down and go away in a controlled, staged process, leaving a Detroit Two” Michael Robinet, CSM vice president of global vehicle forecasts, said... Article added: 2008-12-12 06:46:21 Article Views Rating: 141
Options narrow for GM, Chrysler | detnews.com | The Detroit News What happens next for General Motors Corp. and Chrysler LLC is not clear after the Senate voted against a $14 billion bailout for the domestic auto industry. The specter of bankruptcy has been realized, but the Treasury Department could also still step in and provide money through the Troubled Asset Relief Program, or TARP, the $700 billion fund the government set up for the Wall Street bailout. Both companies have said they will run out of money within weeks and have retained bankruptcy advisers to... Article added: 2008-12-12 06:46:12 Article Views Rating: 107 |
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