auto industry

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Jeep Wrangler Is Star of Reborn Chrysler

Sales actually up for 'original sport-utility vehicle' with WWII roots

(Newser) - With the Fiat-Chrysler alliance finalized, workers must get hopping to churn out more Jeep Wranglers, the military-vehicle-turned-adventure-ride that’s one of just three American cars whose sales are up this year. It’s “probably one of the main reasons why Chrysler is still here,” an auto analyst tells...

Done Deal: Fiat Buys Chrysler Assets

Administration triumphs as bankruptcy effectively ends

(Newser) - Chrysler finalized its sale of assets to Fiat with a government wire transfer this morning that gave Chrysler $6.6 billion in funds to exit bankruptcy, the New York Times reports. The sale is good news for the Obama administration, which sought an “efficient” restructuring for Chrysler. It may...

House OKs 'Cash for Clunkers' Bill
House OKs 'Cash for Clunkers' Bill
Jun 10, 2009 5:50 AM CDT

House OKs 'Cash for Clunkers' Bill

Rebates up to $4,500 would go to buyers of more efficient vehicles

(Newser) - The House has passed legislation to give people who trade in gas-guzzling vehicles for more efficient new models rebates up to $4,500, the Detroit News reports. The $4 billion "cash-for-clunkers" bill, aimed at giving the auto industry a boost, passed 298-119, and its backers will now try to...

Supreme Court Won't Block Chrysler Sale

(Newser) - The Supreme Court has cleared the way for Chrysler's sale to Fiat, turning down a last-ditch bid by opponents of the deal. The court late today rejected a plea to block the sale of most of Chrysler's assets to the Italian automaker. With the court's move, the deal can now...

Ginsburg Delays Chrysler-Fiat Deal

(Newser) - Supreme Court Justice Ruth Bader Ginsburg today put a temporary stay on the sale of Chrysler to Italian automaker Fiat, SCOTUSBlog reports. Ginsburg’s motion allows the justices to further consider the matter, and either postpone the sale or let it go forward. A full postponement of the sale would...

As Dealers Dwindle, Car Prices Set to Balloon

Lack of competition expected to drive up GM, Chrysler's prices

(Newser) - The shake-up of America's auto industry will mean fewer auto dealers but the streamlining won't be making the cars any cheaper, experts tell the Boston Globe. Chrysler and General Motors are likely to turn to the Japanese model of fewer brands and fewer dealers when they emerge from bankruptcy, and...

Foes Ask Supreme Court to Block Chrysler-Fiat Deal

(Newser) - Opponents of Chrysler's sale to Fiat are asking the Supreme Court to block the deal. Three Indiana state pension and construction funds filed emergency papers at the high court early today to put the sale on hold so they can pursue an appeal. The emergency request goes first to Justice...

Penske Can Make Saturn Work
 Penske Can Make Saturn Work 
analysis
Jun 6, 2009 3:36 PM CDT

Penske Can Make Saturn Work

(Newser) - Roger Penske could be just what the mechanic ordered for Saturn, analysts tell the Detroit News. By leaving the manufacturing work to others—initially GM and then, for a time, foreign automakers—Saturn's new buyer will be able to focus on sales and marketing and avoid the pitfalls GM faced....

Treasury Pushed Reluctant Chrysler Into Fiat Deal

(Newser) - The Obama administration foisted the Fiat alliance on Chrysler, brushing aside its concerns about Fiat’s financial health and unwillingness to share technology, the Wall Street Journal reports. E-mails filed during Chrysler’s bankruptcy proceedings show Fiat ignoring requests for documents, reluctant to ante up funds, and attempting to change...

Racing Legend Penske Will Buy Saturn From GM

(Newser) - Roger Penske, the racecar driver turned business tycoon, will buy the Saturn brand and dealer network from GM. The deal will save 350-plus dealerships and some 13,000 jobs if it goes through, the bankrupt parent company said in confirming the tentative agreement. The price is between $100 million and...

Make Romney the Head of GM

 Make Romney 
 the Head of GM 
OPINION
Jun 3, 2009 7:40 AM CDT

Make Romney the Head of GM

Former Mass. governor could turn around automaker, says Bennet

(Newser) - Barack Obama wants to "take a hands-off approach" with General Motors, but as James Bennet writes in the Atlantic, there's no way to get the bankrupt automaker back into shape "without getting under the hood." GM needs someone who can "bring the hammer down" on its...

US Automakers See Sales Increase in May

Ford, GM have best month of 2009

(Newser) - Some actual good news for the auto industry: All three US automakers saw sales of new cars jump from April to May, reports the New York Times. Granted, sales are still way down compared to last year, but the month-to-month leap offers a glimmer of hope among the bankruptcy headlines....

GM Strikes Hummer Deal
 GM Strikes Hummer Deal 
Jun 2, 2009 7:21 AM CDT

GM Strikes Hummer Deal

Buyer, price not disclosed

(Newser) - General Motors has announced a "tentative" plan to sell its Hummer brand to a buyer who could take control by the end of the third quarter, says the Wall Street Journal. The firm didn’t say who was buying it or for how much, but noted that the purchaser...

Bracing for 'Obama Motors'
 Bracing for 'Obama Motors' 
OPINION Roundup
Jun 1, 2009 10:59 AM CDT

Bracing for 'Obama Motors'

(Newser) - GM’s bankruptcy and semi-nationalization has everyone talking. Here’s what the papers are saying:
  • “Welcome to Obama Motors, and what is likely to be a long, expensive, and unhappy exercise in political car making,” writes the Wall Street Journal. The government seems incapable of hands-off management, and
...

GM Fleshes Out Plans to Close, Idle Plants

(Newser) - In the wake of this morning's bankruptcy filing, GM will permanently close nine more plants and idle three others to trim production and labor costs, the AP reports. Assembly plants in Pontiac, Mich., and Wilmington, Del., will close this year; plants in Spring Hill, Tenn., and Orion, Mich., will shut...

GM Declares Bankruptcy
 GM Declares Bankruptcy 
Jun 1, 2009 7:38 AM CDT

GM Declares Bankruptcy

Obama plans speech outlining firm's future

(Newser) - Once king of the auto industry, General Motors filed for bankruptcy this morning, the Wall Street Journal reports. The firm must cut some 21,000 workers and close 12 to 20 factories and 40% of dealerships, adds the New York Times. GM says it owes $172.8 billion and has...

As Rivals Flail, Ford Ramps Up Production

(Newser) - Hoping to profit from its rivals' pain, Ford will ramp up this year's third-quarter production 10% over last year's, in a bid to grab market share from GM and Chrysler as they recover from bankruptcy, the Wall Street Journal reports. It’ll be Ford’s first production bump in nearly...

General Motors: How a Giant Fell
 General Motors: 
 How a Giant Fell 
ANALYSIS
Jun 1, 2009 5:13 AM CDT

General Motors: How a Giant Fell

After decades of dominance, automaker blamed others for downfall

(Newser) - General Motors dominated the auto industry for much of the 20th century, and its downfall took place over decades. Many of the attributes GM once saw as strengths, from its rigid structure to its diverse range of vehicles, became liabilities as Japanese competitors sucked away even its most loyal customers,...

Jobless Cling to Their Faith in Detroit

Religions offer comfort as jobless face pain, hunger

(Newser) - Thousands of Detroit's jobless are coping with fear and desperation by falling back on faith, the Detroit Free Press reports. Houses of worship are increasingly fielding calls from people seeking jobs, food, and housing—but above all, congregants say, they find comfort. "When the tension comes and the pressure...

Red Wings Give Hard-Luck Detroit Reason to Cheer

(Newser) - As Detroit reels from the automotive crisis, a much-needed emotional uplift is coming from a dependable source: the Red Wings, currently in the Stanley Cup finals against the Pittsburgh Penguins. We “are one of the good stories that are coming out of Detroit right now,” a Red Wings...

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