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This isn't good. The Associated Press is reporting that Fisker Automotive has stopped production of the Fisker Karma (UPDATE: Not true, says Fisker PR: "We are currently producing 20-25 Karmas a day and will continue to do so.") and laid off 26 Delaware employees and 40 contractors in California. ...

Ratan Tata bought Jaguar and Land Rover (JLR) expecting to pick them up and help them fly. Instead, as with nearly every other car manufacturer, he's having to dig them out of a deepening hole. From last December through next month, ...

President George W. Bush will doubtlessly be remembered for many things things, but his parting legacy may yet be his eleventh-hour pledge of $17.4 billion in low-interest loans to General Motors and Chrysler (Ford Motor Company has said it does not require relief at this time).The funding will ...

The president of the United Auto Workers union, Ron Gettelfinger, said in a recent CNN interview that U.S. automakers need to tell Congress they will limit corporate pay, bonuses and severance packages in return for more government loans. Gettelfinger also said that the Detroit Three only need the ...

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 still in the business of securing loans and selling vehicles. Starting Friday, GM will launch a ...

This week, Detroit got its $25B bailout loan approved by Washington, and according to The Wall Street Journal, European carmakers are making like this is a game of "Simon Says." The Journal reports that Fiat has proposed the idea of hitting up the European Commission for €40 billion ($55B USD) ...

Toyota Financial Services recently leaped over GMAC Financial services to take the lead as the biggest U.S. auto lender in terms of loan and lease contract volume. The study by AutoCount (a unit of the Experian Automotive company) estimates that Toyota captured 6.35% of the market from January ...

Findings from a recent study could potentially change the way banks pick interest rates for new car loans. The study, run by Penn State's Smeal College of Business professor Brent Ambrose, found the probability of car owners defaulting on their loans was actually affected by the make of the model. ...

var digg_url = 'http://digg.com/offbeat_news/Bulgaria_goes_into_debt_to_buy_fleet_of_Porsche_Cayenne_ambulances'; There's few things that could make one turn away from the blue light at the end of the tunnel and return to the land of the living, but a ride in a Porsche Cayenne ambulance just ...

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 ...