Automotive Industry News
Auto MarketPaulson rules out aid to carmakers under rescue plan US Treasury Secretary Henry Paulson on Wednesday ruled out the possibility of using part of the 700-billion-dollar rescue plan to help the struggling auto industry. FordUS automaker Ford asks German government for help US automaker Ford has asked Berlin for aid but the government is divided on how to help Germany's key but troubled industrial sector. General MotorsTroubled GM says it is profitable in China Troubled General Motors said Wednesday that it was making money in China and was continuing its investments in the large Asian market. General MotorsFinancial crisis closes in on GM The global financial crisis closed in on two more victims Tuesday after General Motors said it would need a government rescue and major US electronics retailer Circuit City filed for bankruptcy. Auto MarketObama, Bush discuss world of challenges US president-elect Barack Obama met President George W. Bush for face-to-face talks at the White House, with help for the ailing US auto industry reportedly a top issue. Auto ShowsGolf sponsorship fears as auto giants struggle The world of golf is heavily reliant on the world's top auto manufacturers for sponsorship and Phil Mickelson fears the USPGA Tour will be hit with General Motors and Ford running out of cash. General MotorsGM needs federal aid in coming weeks General Motors is in such dire financial straits that it needs to line up a federal aid package before president-elect Barack Obama takes office in January, the automaker's chief executive said Monday. General MotorsGM shares plunge after analyst sees them hitting zero General Motors shares plunged more than 30 percent Monday after an analyst forecast their price would fall to zero, saying that even if there is a government bailout of the auto giant, shareholders would not benefit. General MotorsGM warns of cash crunch, appeals for bailout General Motors, the biggest US-automaker, warned Friday that it would run out of cash in the first half of next year and appealed to the US government for help to save it from collapse. FordFord warns of tough times ahead amid heavy losses Embattled US automaker Ford Motor Co. warned of tough times ahead as it reported heavy financial losses and plans to slash an additional 10 percent from its salaried North American worker costs.
|
|
