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    Obama working to pitch success of auto bailouts to American public
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    You don't have to be a pollster to know that for the most part, the American public remains none too happy about the federal government handing over the people's hard-earned tax dollars to pull General Motors and Chrysler out of the fires of insolvency. Despite the fact that both companies have ...

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    GM CEO Whitacre paid for own charter flight to D.C.
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    Wednesday was a busy day for General Motors CEO Ed Whitacre by anyone's definition. He started the day with a trip to The General's Fairfax plant in Kansas to tell the world that GM was paying off the remaining $5.8 billion in government loans five years ahead of schedule and to announce a $257 ...

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    Report: U.S. government to purchase first 100 Chevy Volts and thousands of hybrids *UPDATE
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    2011 Chevrolet Volt – Click above for high-res image gallery
    In an effort to make the government's fleet of vehicles more green, the Obama administration has reportedly announced plans to add more hybrids this year followed by plug-in hybrids next year. The plan should double the number of ...

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    GM begins repayment to U.S. and Canadian governments
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    Good news, the check is in the mail! General Motors issued a (very) brief press release this afternoon stating that the automaker had delivered on its promise to issue its first reimbursement checks to the U.S. and Canadian governments by the end of the year. GM sent $1 billion to the feds and ...

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    REPORT: Old Carco (read: "Bad Chrysler") to not repay $4B in TARP loans
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    Before Fiat and prior to bankruptcy, the old Chrysler, LLC needed $4 billion just to keep the doors open. The Bush Administration came through with the company-saving cash at the 11th hour, keeping the Pentastar solvent long enough to make it to bankruptcy court. Chrysler was reportedly given $15 ...

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    REPORT: GMAC likely to get more cash soon from federal government
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    GMAC has received $12.5 billion in U.S. Treasury loans since last December, but that sizable amount of cash may not be the last of government assistance. The Detroit News is reporting that General Motors' finance arm could receive between $4 billion to $5.6 billion by November 9 in order to satisfy ...

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    REPORT: Porsche facing dire times, actually skirted bankruptcy in March
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    These are some confusing times in the automotive world. For the past few years, it seemed as though Porsche was primed to rule the world. It was selling plenty of product, and more importantly, it was quickly gobbling up shares of German juggernaut Volkswagen. Dried-up credit markets and slow sales ...

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    REPORT: Unsigned waivers to blame for Chrysler Financial rejection of gov't cash
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    Over the past two days, we've told you what we've heard about the latest short-term federal aid coming to Chrysler and GM. According to the latest reports, it will be $5B to the latter and $500M to the former. We also mentioned it had been reported that Chrysler Financial had inexplicably turned ...

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    GM Bondholders not digging restructuring plan
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    General Motors submitted a restructuring plan on February 17 that included 47,000 job cuts, 14 plant closings by 2012 and the sale, dismantling, or shrinking of four brands. It sounds like a big remodeling job, unless you're a GM bondholder. In a letter sent to President Obama's automotive task ...

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    Fiat CEO tells U.S. Treasury it can help Chrysler repay loans
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    General Motors and Chrysler have been in meetings with the U.S. Treasury this week to discuss how and when the Detroit automakers can again become viable. Both companies are asking for additional billions to fund their perspective turnarounds, but Chrysler is also defending a proposed partnership ...

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    Big Shift: Poll says just 25% of Americans now favor automaker aid
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    During his state of the economy speech on Capitol Hill, President Obama was passionate in stating his commitment to saving the domestic auto industry. While domestic automakers have the President's support, the general public may be less receptive to more government loans. A recent USA Today poll ...

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    Chrysler still thinks merging with GM a good idea
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    General Motors may have put a merger with Chrysler in its rear view mirror, but the Pentastar apparently thinks a tie-up might still be a good idea. Chrysler called a potential pairing with the General the "best option" for the Auburn Hills, MI-based automaker, saying that it would reap five times ...

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    CAW ready to talk with Detroit 3 before gov't deadline, willing to deal
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    Detroit automakers are frantically working to cut costs in an effort to stay out of bankruptcy court. A very big piece of the puzzle is labor, and leaders from the Canadian Auto Workers Union are reportedly ready and willing to make concessions. Talks are set to begin next week in advance of a ...

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    REPORT: French government calls for auto execs to forego bonuses
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    The French government has put €6 billion ($7.79 billion USD) on the table for car companies. And as part of the effort to make sure that every drop of the money goes toward maximizing performance and retaining jobs, the French government has asked that Peugeot/Citroen and Renault company ...

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    BMW cuts 26,000 workers, may apply for state aid
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    BMW builds terrific cars and crossovers, but even Germany's finest is struggling to tread water in a brutal automotive climate. Lagging demand has forced BMW to cut 26,000 workers for the months of February and March and BMW's factories in Dingolfing and Regensburg will be effected by the ...

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    Chrysler scraps dealer awards meeting in Mexico
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    Every year, Chrysler rewards its top dealers with an all-expenses paid trip to some exotic location. But with the financial situation at the privately-owned automaker in the crapper, the Pentastar decided to cancel this year's excursion. Chrysler spokesman Stuart Schorr told the Detroit News that ...

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    GM to taxpayers: Sorry we had to ask, but thanks for the money
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    The last few weeks may have been some of the worst in GM's 100-year history. Sales have tanked, CEO Rick Wagoner faced a firing squad in Washington -- twice -- and a CNN poll showed that 61% of Americans didn't want the automakers to get federal loans. It appears Congress is on the verge of ...

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    BREAKING: Automakers to get $15 billion in federal loans
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    It's taken two rounds of Congressional hearings, some major pride swallowing and three detailed business plans, but it looks as if the Detroit 3 will be getting the federal loans they need, though not as much they asked for. A deal was reportedly reached between Democratic leaders and the White ...

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    Wagoner arrives for Senate hearing in Volt mule
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    General Motors CEO Rick Wagoner has arrived in Washington to deliver testimony at Senate hearings scheduled for today and tomorrow, and as we reported late yesterday, his transportation this time was not a private jet, but rather a series hybrid Chevy Volt mule in the body of a Chevy Cruze. Ford ...

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    GM has "Plan B" in the works if Feds don't come through with cash
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    Detroit automakers are busy putting the final touches on its Congress-bound revitalization plans, but all three automakers are also making plans in the event government loans are turned down. GM has a back-up plan, and it reportedly includes more factory closures, white-collar cutbacks, further ...

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