Now that the U.S. has officially concluded that greenhouse gasses are harmful to human health, it's time to do something about them. One major hurdle standing in the way of the U.S. implementing carbon cap and trade legislation appears to have been cleared as both the domestic automakers and Michigan's legislature have lifted their opposition and now support for the bill. Why?
Now that the U.S. has officially concluded that greenhouse gasses are harmful to human health, it's time to do something about them. One major hurdle standing in the way of the U.S. implementing carbon cap and trade legislation appears to have been cleared as both the domestic automakers and Michigan's legislature have lifted their opposition and now support for the bill. Why? T
In what has to be one of the least surprising developments related to the auto industry, a newly-released survey finds that Americans' favorable view of Ford Motor Company has increased substantially since it became the sole member of the Detroit Three to abstain from taking federal funds.
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 down an additional $750M in government aid during this most recent round of handouts. It had been speculated
Is General Motors about to get an additional $5 billlion from the Feds? Will Chrysler be getting another $500 million? The Detroit News seems to think so. Citing Obama Administration sources and a leaked 250-page government report, they say that those figures are accurate. The money will reportedly come in the form of short-term aid via the $700B Troubled Asset Relief Program (TARP). One group we know won't be taking any additional TARP money is Frank Filipponio
Although Volvo has already said that it would not participate in this October's Tokyo Motor Show, the Swedish automaker's German contemporaries are reportedly dragging their feet on similar public announcements in an effort to not be the first from their country to do so. According to a brief Automotive News item, BMW and Mercedes-Benz are "unlikely to participate" as part of an effort
There's no question that the Detroit-based auto industry needs a lot of help. There's a 100-year history of how it got into the problems it's in, and some of those problems are beyond management's control.
Between the flow of bailout bucks and the economic turmoil threatening to topple the Detroit 3, you'd figure the investigative efforts of the Detroit News would be better spent digging through the viability plans of Chrysler and General Motors, delving into the minutia that could make or break the domestic automobile industry. Apparently not.
With sales at a 26-year low, the Detroit 3 are trying almost anything to reduce costs and make more money from the cars they are selling. One of the biggest changes coming apes what some of the more successful Japanese makers have done all along: offering fewer configurations of their models. If you want leather, you option up for the higher-spec model and get the sunroof, two-zone climate control, larger wheels, and steering-wheel-controlled MP3 stereo system too. Soon, you'll see a si
While there have been rumors and suggested candidates floated for the so-called federal "car czar" post, it now no longer looks like that position will be filled. That's because President Barack Obama has apparently gone cold on the idea. Instead, new reports suggest that he will look to a select group of senior economic advisers for guidance.
Show me the money. With apologies to Cuba Gooding Jr., that is exactly what many General Motors dealers are saying to GMAC Financial Services.
The 2009 Tokyo Motor Show is going to have to make do without another automaker, as Volvo has decided to save money by skipping the exhibition. Volvo's move comes after all three Detroit automakers decided to skip the event, which is held every other year. Volvo, like the Detroit automakers, doesn't have a major presence in the land of the rising sun, making the decision not to head for Tokyo easier. With the precipitous state of the globa
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).
With the U.S. Senate denying the Detroit 3 relief plan, it looks like oil prices might continue to tumble. Our sibling site BloggingStocks is predicting barrel prices might drop as low as $35 as a result. This comes on the heels of predictions of higher prices in the near future.
In all this debate about whether we should provide the Big Three with a bridge loan, not enough attention has been devoted to their impact on our national defense. I'd hate to see this country ever get involved in a total global war again, but I especially shudder to think it might happen without the manufacturing capability that General Motors, Ford and Chrysler provide to the United States.
In some parts of the world, it's normal to take along saints or other holy images for a Procession to ask for rain, a good crop or other benefit. A similar idea caught the minds of people at Detroit's Greater Grace Church, where the pastor made a symbolic move on SUVday Sunday to pray for the future of the car industry. The objects of prayer? Three hybrid SUVs: a Ford Escape, Chevy Tahoe, and Chrysler Aspen. The holy trinity joined the Rev. Charles Ellis on the altar while many
What to do when you wanted $34 billion and Congress only gave you $15 billion? Try again, but this time go North young man. The Detroit 3 are now making a pitch to the Canadian legislature seeking an additional $6.8 billion from Canada where nearly 100,000 workers are employed in factories and dealerships bearing the Chrysler, General Motors or Ford name.
Having watched each of the Detroit 3 CEOs take tough questions from the Senate Banking Committee for six hours yesterday, we've returned to the couch today to watch General Motors CEO Rick Wagoner, Ford CEO Alan Mulally, Chrysler CEO Bob Nardelli and Ron Gettelfinger, President of the United Auto Workers union, visit House members of the Financial Services Committee led by Rep. Barney Frank (D-Massachusetts).