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Main > Car Makers News > GM > GM bleeds; aid talks heat up | detnews.com | The Detroit News Pressure is mounting on General Motors Corp. to secure additional federal aid and money-saving concessions from the United Auto Workers and bondholders in light of the automaker's $30.9 billion loss last year. GM revealed its fourth straight annual loss -- the second-worst in the company's 100-year history -- on Thursday, hours before Chairman and CEO Rick Wagoner met with President Barack Obama's auto team, which is overseeing the automaker's restructuring and repayment of $13.4 billion in federal... Full article... Article added: 2009-02-27 15:55:36 Article Views Rating: 263 Main > Car Makers News > Other > Auto briefs | detnews.com | The Detroit News Nissan Motor Co. , Japan's third-largest automaker, had its credit rating cut by Standard & Poor's as the global recession saps demand for new vehicles and a strong yen erodes earnings. The carmaker was downgraded one level to BBB, the second lowest investment grade, and given a stable outlook, S&P said in a statement Monday. The move ends a review started Feb. 10. The ratings change may raise borrowing costs for Nissan, which has to repay 757 billion yen $8.1 billion in bonds and loans maturing this... Full article... Article added: 2009-02-24 09:58:41 Article Views Rating: 237 Main > Car Makers News > Honda > A new social compact: Honda Civic best all-around choice in '09 lineup | detnews.com | The Detroit News There's no doubting the variety that comes with compact cars. Some, such as the Volvo C30 and Audi A3, are more luxurious, while others, like the Mini Cooper, have cult-like followings. All of them, however, share a few common attributes. In auto parlance, they are known as C-Segment vehicles, something that falls between the B and D segments. The EPA defines them as vehicles with interior volumes measuring between 100 and 109.9 cubic feet, but most people wouldn't know a cubic foot from a... Full article... Article added: 2009-02-23 15:09:05 Article Views Rating: 248 Main > Car Makers News > Other > Auto team drives imports | detnews.com | The Detroit News WASHINGTON -- The vehicles owned by the Obama administration's auto team could reflect one reason why Detroit's Big Three automakers are in trouble: The list includes few new American cars. Among the eight members named Friday to the Presidential Task Force on the Auto Industry and the 10 senior policy aides who will assist them in their work, two own American models. Add the Treasury Department's special adviser to the task force and the total jumps to three. The Detroit News reviewed public records to... Full article... Article added: 2009-02-23 15:09:05 Article Views Rating: 144 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 briefs | detnews.com | The Detroit News AUTOS 775 Delphi jobs to be slashed near SaginawBUENA VISTA TOWNSHIP -- Nearly 800 jobs are being eliminated at the steering division of Delphi Corp . near Saginaw. The cuts announced Monday are hitting 425 hourly workers and 350 employees who are on salary. They will kick in March 1. "We've anticipated this for some time," said Mike Hanley, president of United Auto Workers Local 699. Workers with low seniority can leave and get a severance package or put their name on a recall list. The white-collar... 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 > Lear acts to offset losses | detnews.com | The Detroit News Lear Corp. reported a fourth quarter net loss of $688.2 million or $8.91 a share on net sales of $2.6 billion. That compares with a net profit of $27 million or 34 cents per share in 2007. The pre-tax loss was $692.1 million, a ballooning loss from last year's net income of $45.1 million for the supplier of seating, electrical and electronic products for the auto industry. The loss includes a non-cash goodwill impairment charge of $530 million and restructuring costs of $66.2 million. Sales for the... Full article... Article added: 2009-01-30 07:07:52 Article Views Rating: 123 Main > Car Makers News > Opel > Sneak peek: Next-generation Opel/Saturn Astra | detnews.com | The Detroit News The new profile -- the front fascia and the massive rear bumper with the parted taillights -- are visible on the next-generation Opel/Saturn Astra. The new car looks somewhat sleeker and yet more elegant. The Astra also seems to have very interesting headlight clusters with a jeweled arrangement at the top of the housing. Besides the 5-door model pictured here, Opel has an estate "Caravan"; a convertible "Twin Top"; and the 3-door "GTC" in the pipeline, all following the 5-doors introduction, one by... Full article... Article added: 2009-01-30 07:07:50 Article Views Rating: 232 Main > Car Makers News > Ford > Ford: Feds can do more to lift sales | detnews.com | The Detroit News Ford Motor Co. is calling on Washington to do more to stimulate the economy and get consumers back into its showrooms, after posting a record loss of nearly $14.6 billion for 2008 on Thursday. Despite capping an already dismal year with a fourth-quarter loss of $5.9 billion, the Dearborn automaker insisted that it has enough cash to weather the economic crisis and does not need direct aid from the federal government. However, Ford has lobbied lawmakers for financial aid for its cross-town rivals... Full article... Article added: 2009-01-30 07:07:50 Article Views Rating: 157 |
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