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Main > Car Makers News > Hummer > Chinese SUV maker denies reports it may buy Hummer | detnews.com | The Detroit News SHANGHAI -- Sichuan Automobile Industry Group, a small SUV maker in central China, denied a report Tuesday that it is in talks to buy GM's Hummer line, in the latest wave of speculation over potential global brand acquisitions by Chinese automakers. "Who made up that joke? Sorry, I've never heard of such a purchase plan," said an assistant to the general manager of Sichuan Auto Industry, who like many media-shy Chinese would only give his surname, Chen. "We have no energy to consider making bids for... Full article... Article added: 2009-02-17 14:55:40 Article Views Rating: 190 Main > Car Makers News > Other > Auto panel to exert broad clout | detnews.com | The Detroit News WASHINGTON -- President Barack Obama's decision to create a task force on autos, rather than appoint a car czar, centralizes authority within an administration that realizes the struggling automakers are facing an increasingly uncertain future. While presidential task forces are not new, industry and political experts say the panel announced Monday by the White House will exert an unusual amount of power. The Obama administration's point person -- the person with the legal authority to require auto... Full article... Article added: 2009-02-17 14:55:40 Article Views Rating: 145 Main > Car Makers News > GM > GM to seek more federal aid | detnews.com | The Detroit News DETROIT -- General Motors Corp. will ask for billions more in federal aid today when it submits a restructuring plan to the U.S. Treasury Department outlining cuts that will dramatically shrink the iconic but troubled American automaker. But GM's recovery plan and one from Chrysler LLC, due today as a condition of a $17.4 billion federal loan package, are not expected to include key money-saving concessions from the United Auto Workers and bondholders. Despite long negotiations over the weekend and... Full article... Article added: 2009-02-17 14:55:39 Article Views Rating: 225 Main > Car Makers News > Other > Geithner to lead auto panel | detnews.com | The Detroit News The White House on Monday will announce it is forming a task force led by Treasury Secretary Tim Geithner to oversee the restructuring of the auto industry -- one day before General Motors Corp. and Chrysler LLC are required to file viability plans. The move comes even as a senior administration official on Sunday would not rule out the possibility that GM and Chrysler may seek bankruptcy protection in the process. In a separate development, GM resumed urgent talks with the United Auto Workers on... Full article... Article added: 2009-02-16 09:31:18 Article Views Rating: 150 Main > Car Makers News > Other > Geithner to lead auto panel | detnews.com | The Detroit News The White House is dropping plans to appoint a car czar and instead will name a team, led by Treasury Secretary Timothy Geithner, to oversee the restructuring of the auto industry. The announcement will be made today -- one day before General Motors Corp. and Chrysler LLC must file viability plans. The move comes as a senior administration official on Sunday would not rule out the possibility that GM and Chrysler may need to seek bankruptcy protection in the process. In a separate development, GM... Full article... Article added: 2009-02-16 09:31:16 Article Views Rating: 138 Main > Car Makers News > Chrysler > GM, Chrysler rush plans | detnews.com | The Detroit News General Motors Corp. and Chrysler LLC are scrambling to finish key negotiations and fine-tune restructuring plans that will dramatically transform companies pushed to the brink of bankruptcy late last year. The automakers have had more than two months to slash costs and prove they can repay up to $17.4 billion in federal loans, despite the worst U.S. auto sales market since the 1980s. Preparations are expected to continue through the weekend to meet Tuesday's deadline to submit plans to the U.S... Full article... Article added: 2009-02-15 18:02:47 Article Views Rating: 181 Main > Car Makers News > Other > French Government Helps Automakers Automakers of the whole world go through hard times and the only way of salvation is government help. While American Big Three asks for more and more from Washington DC, Swedish government has already agreed to help Volvo and Saab with their development. A few days ago French politicians approved their bailout program too. As soon as French automakers Renault and PSA Peugeot Citroën agreed to keep the factories in the country and provide jobs for French citizens, the government granted a $11.8 billion... Full article... Article added: 2009-02-12 06:29:16 Article Views Rating: 165 Main > Car Makers News > Other > Auto briefs | detnews.com | The Detroit News Cash-strapped General Motors Corp. does not intend to offer another round of buyouts to hourly workers after the current program expires next month, a source familiar with the situation said Wednesday. GM expects most hourly workers will wait until after the automaker submits its viability plan to the federal government Tuesday before deciding whether to accept the offer. The automaker would like to see at least half of the 22,000 retirement-eligible hourly workers accept buyout and early-retirement... Full article... Article added: 2009-02-12 06:29:14 Article Views Rating: 131 Main > Car Makers News > Other > Obama to Big 3: Craft plan that works | detnews.com | The Detroit News WASHINGTON -- Nearly an hour of heavy questioning had ticked by and, finally, a reporter asked what probably all the reporters were wondering. What, exactly, was the brick-size wooden box with the red button on top, on the table in front of President Barack Obama? "If any of you really got me mad, I would press it," Obama said with a mischievous laugh. Obama, meeting with The Detroit News and more than a dozen other newspapers in the White House on Wednesday, is just getting used to the box, his office... Full article... Article added: 2009-02-12 06:29:13 Article Views Rating: 134 Main > Car Makers News > Other > Automakers lobby for fuel efficiency rules | detnews.com | The Detroit News WASHINGTON -- Detroit's Big Three and eight other automakers urged the Obama administration Thursday to implement fuel efficiency increases drafted by the Bush administration but abandoned earlier this month. The Alliance of Automobile Manufacturers, the trade group representing General Motors Corp., Ford Motor Co., Chrysler LLC, Toyota Motor Corp., Daimler AG and others, urged the new administration to rethink its approach and follow the Bush proposal to increase fuel efficiency to a fleetwide average... Full article... Article added: 2009-01-30 07:07:53 Article Views Rating: 170 |
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