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0Report: Subprime financing on the rise in new car sales, leasing too 1354887840
We all remember the financial crisis that began several years back. At its core was a splurge of subprime lending for housing loans. The housing bubble burst, triggering a collapse of the mortgage-backed securities market. Apparently, those types of loans still exist in the automotive industry, ...
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Official: General Motors buys Ally Financial foreign operations 1353794460
In a move that welcomes former pieces of General Motors back into the fold, GM Financial has reached a deal with Ally Financial, formerly GMAC, to buy a piece of the company's international operations. The $4.2 billion deal is for Ally's Latin America, Europe and China operations. "GM is ...
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Report: Chrysler sales growth fueled by subprime loans? 1338920100
Automotive News reports Chrysler owes some of its recent sales success to a resurgence of subprime loans. Chrysler has a history of working with customers burdened with questionable finance histories, and lenders have begun to loosen credit restrictions. As a result, 29 out of every 100 auto ...
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Official: DOE rejects $310M loan for Carbon Motors to build advanced police cars 1331222220
Carbon Motors, maker of the purpose-built E7 police car, won't receive the $310 million in U.S. Department of Energy (DOE) loans under the Advanced Technology Vehicle Manufacturing (ATVM) program that it applied for almost three years ago, and said that it's a victim of politics. "We are ...
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Report: Chrysler abandons plan seeking more federal loans 1329488880
The Detroit News reports Chrysler is walking away from the company's pursuit of low-interest Department of Energy loans. The automaker originally applied for an $8.55 billion loan when it was still under Cerberus Capital Management, though the figure had since shrunk to $3.5 billion. The DOE, ...
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Report: Marchionne apologizes for refering to gov't bailout as 'shyster loans' 1297092480
We've all been there: uttering words you almost immediately regret. You feel like an absolute idiot. But the next time that kind of situation comes up – and come up it will – know that you're not alone. Because Sergio Marchionne has had a bit of backtracking to do himself. The ...
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Who pays the highest auto loan interest rates in the country? 1283522280
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It's that time of the year again, kids. Manufacturers are busy trying to put people in cars in order to move leftover stock and make room for incoming models, and many are doing so with ridiculously low financing rates. But who's the fairest of them all? As it turns out, ...Powered by Tableau -
Obama working to pitch success of auto bailouts to American public 1280510940
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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Whitacre: Remaining $5.8B in gov't loans paid back 5 years ahead of schedule 1271861700
This morning, General Motors Chairman and CEO Ed Whitacre confirmed that the company has paid back a total of $5.8 billion in federal loans a full five years ahead of schedule. Whitacre attributed the company's ability to make the payment, with interest, to its new strategy and the success of new ...
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Write-downs lead to GM loss of $4.3 billion 1270654800
General Motors has just announced it has completed fresh-start accounting as part of its quest to return to public ownership, and the numbers don't exactly look good. GM says that it will announce a $4.3 billion loss for the fourth-quarter of 2009. Despite relatively strong sales last year, the ...

