Auto Makers in Trouble

Global auto-makers are facing a big problem these days. Manufacturing faults have arisen in some of their vehicles. Honda, Toyota and Chrysler are the auto-mobile companies that are facing this issue. These World-renowned automobile companies are on the way to sort out this issue.

Click here to read more…

Chrysler reported that it will continue with the build of the sports car in business with the new Viper SRT 10 to be on the continuation of building.

Production assembly plant in Detroit has been able to come up with the work being finished in the “Snake Pit” this December.

The new Chrysler was reversed to be in a review with the company’s product revision process this year. The current line up process states that top executives found the Viper to be a great option with the business meant to be going ahead in full force. The ACR and competition versions have to be continued for the greater benefit of the company.

Click here to read more…

The first quarter of the current financial year was quite shattering for many automakers and most of them had to face untoward financial troubles under the shadows of deepening recession and slow down in sales.

The Detroit-based GM have been looking towards the US Government for a bailout to avoid a possible bankruptcy and this is because of these very fears and slowdown in worldwide sales that the giant automaker had to undergo $6 billion loss in the first quarter of the current financial year.

The company’s revenue cut nearly 50% as most of the buyers had shown concerned that the company would soon announced a bankruptcy and wouldn’t be able to honor its various warranties.

Click here to read more…

The U.S. Treasury has clarified guidelines for its auto industry rescue plan. The treasury says that there is a possibility to invest in debt, warrants or equity that would be determined as troubled assets of some automaker company.

According to the treasury, these guidelines for Auto Industry Financing Program will be applied to all those auto firms that it will reckon important for the industry including Detroit automakers and other auto finance companies.

Under these guidelines, a proper structure has been offered to a $17.4b rescue plan for GM and Chrysler LLC that was rushed into effect by the Bush administration on Dec.19. The plan was supplemented with $6b for finance companies aid later on.

Click here to read more…

GM and Chrysler Motors will receive $17.4b from federal loans to avoid bankruptcy. However, the two companies will have to emerge with their reorganization plans and if they fail doing this, the will repay the amount instantly.

The loan is being provided under certain conditions that also include possible concessions from the firms, dealers and UAW.

The US Govt. has approved the Troubled Assets Relief Program and the will come from this program.

In the first phase, GM and Chrysler will get $13.4b, while another $4.00b will be provided if needed further.

Chrysler says that it will receive $4b in aid, while $9.4b would be available for General Motors, however, this portion has not been announced yet.

Click here to read more…

Nissan seems quite determined despite hovering economic worries and it was quite evident from the company’s three new vehicles’ launch in LA Auto Show Wednesday.

AT the same time, other US automakers (GM, Chrysler) seemed to scale back their presence in the show.

In this show, Nissan debuts its 370Z that is the first redesign of the roadster after its reintroduction as a 2003 model.

According to Al Castignetti (vice president and general manager of Nissan North America’s Nissan division), the 2009 370Z is quite lighter than its predecessor and its 3.7-liter V-6 engine is capable to produce 332 horsepower.

[Show as slideshow]

Click here to read more…