Opel Asks EIB for Money
13 Jun 2010, 13:50 UTC · By: Daniel Patrascu / After last week the German government decided not to give carmaker Opel €1.1 billion (US$1.2 billion) in loan guarantees needed for the reorganization process, the manufacturer has now turned ...
NUMMI Workers to Receive Another $19M in Aid
10 Jun 2010, 13:50 UTC · By: Bogdan Popa / Although NUMMI's closure was initially regarded as very bad news for the whole auto industry, it seems that the decision to shut down the Californian facility isn't such a terrible thing. ...
Opel Aid Rejected
10 Jun 2010, 10:35 UTC · By: Daniel Patrascu / Following a few months of uncertainty and debate over the €1.1 billion (US$1.2 billion) in loan guarantees for German carmaker Opel, a decision has been reached. An unpleasing one, as the loan ...
GMAC Wants More US Funding
28 Oct 2009, 13:20 UTC · By: Daniel Patrascu / For the third time in the last year, GMAC Financial Services is looking to secure US funding in an effort to raise its capital. The talks between GMAC and the US Treasury were confirmed by a White H...
Suppliers Ask More Money from the US
12 Oct 2009, 12:35 UTC · By: Daniel Patrascu / With the financial crisis easing, yet still far away from being over, American parts suppliers have begun asking the US government for additional aid. And even if some may argue more financial backi...
South Korean Government Aids Ssangyong in Finding Investors
11 Aug 2009, 15:08 UTC · By: Alexandru Radu Chis / After the recent strike that spanned 77 days, the South Korean car maker resumed production today. Ssangyong is still in a difficult financial situation and tries to find investors as soon as possib...
NADA Having to Yield to GM's Future Plans
13 Jul 2009, 07:29 UTC · By: Alexandru Radu Chis / After very dreary times for the US car manufacturers and especially for GM, which after seeing sales hit rock bottom also faced an unsettling bankruptcy process, financial redemption seems to be at ...
Russian Izhavto Succumbs to the Crisis
2 Apr 2009, 07:45 UTC · By: Daniel Patrascu / The Russian automotive industry lost yesterday its first assembly plant, as Izhavto announced it would stop production indefinitely, Autonews reported. The closure of the plant, which assembles vehi...
Fiat's CEO Goes to Detroit
31 Mar 2009, 13:41 UTC · By: Daniel Patrascu / The US governments request made to Chrysler to speed up its alliance process with Italian manufacturer and make it happen within 30 days has determined Fiat CEO Sergio Marchionne to head for Detroit...
GM, Chrysler Rescue Plans Come on Monday
29 Mar 2009, 08:14 UTC · By: Daniel Patrascu / The White House confirmed president Barack Obama's announcement regarding the measures the administration will take to help GM and Chrysler on Monday, Autonews reported. A White House spokes...
Obama: The Automotive Industry Must Be Preserved
27 Mar 2009, 13:12 UTC · By: Daniel Patrascu / President Barack Obama has announced that his administration will present the new aid package for GM and Chrysler over the following days, but warned that the two manufacturers will have to make &qu...
GM, Chrysler to Receive More Aid
26 Mar 2009, 10:42 UTC · By: Daniel Patrascu / Things are looking good for the two American manufacturers, as the March 31st deadline draws ever closer. Both GM and Chrysler are likely to get a green light to receive supplemental aid, as Obama a...
US Gives $5 Billion to Auto Suppliers
19 Mar 2009, 17:19 UTC · By: Daniel Patrascu / The other side of the coin most seem to have neglected in the automotive industry drama is the story of the auto parts suppliers. The Obama administration has taken note of this fact and will provid...
Opel Vauxhall Dealers Want to Step In
16 Mar 2009, 15:00 UTC · By: Daniel Patrascu / The dealers of GM's struggling brands Opel and Vauxhall are considering stepping in and try save the dramatic situation the companies find themselves in. They plan to raise some 400 million eur...
Europe's February Sales Down 18 Percent
13 Mar 2009, 14:47 UTC · By: Daniel Patrascu / The decline in new car sales continued in February in most of Europe, as expected, but government intervention in several countries helped cushion the blow and stopped the decline at 18 percent, com...
Forster: Opel Not Insolvent
12 Mar 2009, 13:55 UTC · By: Daniel Patrascu / General Motor Europe' CEO, Carl-Peter Forster expressed his opinion about Opel's financial situation and denied in an interview with German radio station Deutschlandfunk that the German ma...
Merkel: Opel Is Not Vital to the Economy
9 Mar 2009, 19:05 UTC · By: Daniel Patrascu / German chancellor Angela Merkel requires a better survival plan to be forwarded by Opel, but warns that even if it does so and the plan is approved, it is unlikely the aid will come in the form of c...
Five Bidders for Saab
9 Mar 2009, 09:33 UTC · By: Daniel Patrascu / Saab fight for survival revolves around their ability to attract new ownership. As it seems interested parties do not cue up to by the company, Saab takes the matter into its own hands and seeks to ...
Saab and Opel Could Sink Without Aid
22 Feb 2009, 09:15 UTC · By: Daniel Patrascu / GM’s financial problems are, as expected, influencing all its assets, local and foreign alike. This is the case with the US based mother company, the European branch could also face collapse i...