credit


European insurers quit covering Ford and GM suppliers

Soaked in bad news, GM and Ford received yet another dousing when their three big European credit insurers dropped them this week. Euler Hermes, Atradius, and Coface have all refused to write policies for suppliers trading with both automakers. The three giant insurance companies control more than 80 percent of the world's credit insurance (insurance companies typically pull their coverage when a client stops proving insurers with enough information to calculate a credit risk, or their overall risk profile has deteriorated). Without their ... Read more →

GM cuts 1,100 staff at Lordstown plant to meet slowing demand Sam Abuelsamid

Less than 2 months ago the headline here was GM ramps up Cobalt production to meet demand. It's amazing how quickly things change in this crazy environment. Just months after adding a third shift ...

GM launches new campaign to ease credit worries Michael Harley

After announcing earlier this week that GMAC would only finance customers who hold credit scores higher than 700, General Motors has decided it would be prudent to reassure consumers that they are ...

Bad credit hurting sales more than fuel prices Chris Shunk

The auto industry is in a bad sales slump, and while trucks and SUVs are being hurt particularly by fuel prices, the rest of the market has an even bigger problem. The tight credit market is making ...

All VW and Mercedes diesels eligible for tax credit Michael Harley

We knew last month that the Jetta TDI was qualified for the tax credit. Now, word is out that all of the new-generation clean diesels for Volkswagen (TDI) and Mercedes-Benz (Bluetec) will be joining ...

Cerberus gives reasons why Chrysler could flop 1 year ago on Autoblog

Cerberus Capital Management shot off a nine-page letter to investors outlining ways that Chrysler could sink, while also pointing out that they believe Chrysler's on the track for success. Some of the possible failure scenarios include a nasty recession, an extreme slowdown in the car market, or a ...

Riding out the storm: Ford applies for $18 billion restructuring package 3 years ago on Autoblog

Ford announced today that it plans to acquire a financing package worth a heady $18 billion. The extra money will ensure that Ford survives the next couple of years while Alan Mulally and company attempt to turn the automaker around and bring profits back to the Blue Oval. Automotive News reports ...

Bad credit? No credit? Ford doesn't care with new 0-72 loans 3 years ago on Autoblog

Facing the ignominy of huge dealer inventory and falling behind Toyota for 2nd place in July sales, Ford has decided to let anybody with a pulse finance one of its cars. Well, you do have to have some credit, but Ford is lowering the bar in this new incentive drive to include buyers with sub-prime ...

Recent Ford bond issues to pay out record returns 3 years ago on Autoblog

From all appearances, Ford Motor Company feels it will need a well-baited hook in order to attract investors to its most recent issue of bonds. As such, the Blue Oval crew is offering $2.5 billion with rates as high as 10.75 percent - a record for the company. Analysts state that this is ...






Autoblog Podcast #154: Gobbling up the News

Chris, Sam, and Dan kick out a podcast just in time for the long holiday drive.

 
 

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