GM Agrees to Product Liability
29 Jun 2009, 10:34 UTC · By: Daniel Patrascu / Bankrupt American manufacturer GM has agreed to assume liability for future product defects in an attempt to speed up their exit from Chapter 11 protection. In addition, GM will also change the term...
Lear to File for Bankruptcy
29 Jun 2009, 08:09 UTC · By: Daniel Patrascu / Even if the economic crisis seems to soften, it keeps on making victims in the automotive sector. The latest one to feel the kiss of bankruptcy is car seat manufacturer Lear which, according to medi...
Chrysler Bankruptcy Lawyers' Bill: $12.7 Million
25 Jun 2009, 09:37 UTC · By: Daniel Patrascu / As we told you in one of our past coverages of both Chrysler's and GM's bankruptcies, there is no better job to have in time of crisis that that of a lawyer. A bankruptcy lawyer... And, de...
GM Investors Denied "Official" Status
24 Jun 2009, 13:29 UTC · By: Daniel Patrascu / A group of small investors who requested to be granted the role of official committee in GM's bankruptcy case received a negative answer today from a US bankruptcy court judge, as he dismissed ...
GM Wants Chrysler to Pay for Two-Mode Hybrid
24 Jun 2009, 12:51 UTC · By: Daniel Patrascu / American manufacturer GM is said to pursue legal action against its former Detroit Three competitor, Chrysler, on the grounds that the latter has not honored its obligations regarding the developmen...
GM to Finish White-Collar Lay-Offs by October
24 Jun 2009, 08:09 UTC · By: Daniel Patrascu / Bankrupt American manufacturer GM is continuing its restructuring efforts and hopes to exit Chapter 11, despite the fact that many see their task as being much more difficult than the one Chrysler h...
Iacocca: GM and Chrysler Must Get Rid of the Government Fast!
23 Jun 2009, 10:40 UTC · By: Bogdan Popa / General Motors and Chrysler, two of the largest car manufacturers in the United States, must get the government out of their businesses fast and run as independent companies. Speaking at the launch ...
More than 4,300 Americans to Be Killed or Injured by GM and Chrysler Cars, Study Shows
23 Jun 2009, 09:46 UTC · By: Alina Dumitrache / A new study revealed that more than 3,400 Americans will be injured or killed by a defective Chrysler or GM vehicle in the first year after their bankruptcy. The report, called ‘Public Safety ...
Karmann Terminates Production
22 Jun 2009, 14:30 UTC · By: Daniel Patrascu / One of the biggest independent automotive manufacturers in Germany, Karmann, is now entering one of the most difficult times they've experienced in over a century. The manufacturer has rolled o...
GM Promises Surprising Lineup for Buick
22 Jun 2009, 09:50 UTC · By: Bogdan Popa / Buick is one of GM's four core brands the company plans to rely on, so major product changes are somehow obvious. However, the American manufacturer is promising a "surprising" lineup...
GM Ends Dealership Restructuring
19 Jun 2009, 13:40 UTC · By: Daniel Patrascu / Bankrupt American manufacturer GM announced yesterday it has completed the restructuring process of its dealership network. According to the company, only 30 of its dealers have declined to sign agr...
GM Must Act Faster, Says CEO
18 Jun 2009, 09:46 UTC · By: Bogdan Popa / GM's CEO Fritz Henderson says the company he leads must make decisions faster in the future if it really wants to become competitive, not only to continue the restructuring plan or change chief...
Metaldyne Sells Assets to RHJ Int.
17 Jun 2009, 10:43 UTC · By: Daniel Patrascu / Bankrupt auto industry supplier Metaldyne has agreed to sell powertrain and operating assets, as well as stock of its foreign subsidiaries to RHJ International, one of the two companies that express...
GM Plans to Keep 95 Percent of Eligible Dealers
15 Jun 2009, 10:50 UTC · By: Bogdan Popa / In spite of the massive dealership cut announced by General Motors some weeks ago, the company's CEO Fritz Henderson recently revealed that more than 95 percent of eligible GM dealers will rema...
NADA: Cutting Dealers Is Not the Way
15 Jun 2009, 10:42 UTC · By: Daniel Patrascu / The grim prospects for dealerships, resulted from the bankruptcy process in which two of the biggest US manufacturers are involved, have been a reason for debate for a long time now. It is likely th...
GM: We'll Still Own the Largest Dealer Network in the US
15 Jun 2009, 06:33 UTC · By: Bogdan Popa / There’s no doubt General Motors hopes to get back to profitability, and all the cost cutting measures we’ve seen in the last few months are the living proof of that. But the recently ann...
Edward Whitacre, GM's New Chairman
10 Jun 2009, 09:00 UTC · By: Daniel Patrascu / Together with a new company, GM is preparing a new management team for the organization due to be born following the exit from bankruptcy later this year. One of their first moves was to appoint Edw...
Fiat Stood No Chance in Opel Deal
9 Jun 2009, 13:53 UTC · By: Daniel Patrascu / Now this is a "rub it in their face" kind of a statement. Following the first major defeat of Italian manufacturer Fiat in its "take-it-all-leave-nothing-standing" approach, Rola...
Penske to Ask Saturn Dealers to Continue
9 Jun 2009, 12:49 UTC · By: Daniel Patrascu / The almost last minute save of GM's brand Saturn from the projected extinction by Penske also means a breath of fresh air for Saturn's dealers. According to a report by Autonews, Saturn�...
Chrysler Sale Delayed
9 Jun 2009, 09:50 UTC · By: Daniel Patrascu / As we told you yesterday, Chrysler was facing its final exam before proceeding to the sale of its assets over to the new company, led by Fiat. They had to get the Supreme Court's approval to be...