According to the Free Press report, talks between UAW and GM are heating up and there is hope that the deal between these two will soon be finalized. The bond exchange from GM is also coming near as 26th of May is a deadline for it, the automaker will have to successfully restructure its debt by ... Read more...
With that of the poor economic slump down felt around the world and mainly in United States, the General Motors, a famous automaker has announced that it will drop Pontiac by the end of 2010, a famous automobile brand produced and sold by GM and in turn it has planned to phase out and concentrate on... Read more...
It has been recently told by Honda that said it will be launching its new Insight hybrid wearing a price tag under $20,000. The intended sales of the car are in the later part this month in the U.S. Details told by American Honda Motor Co. about the arrival of the car are that it will show up in ... Read more...
Saleen Inc. the world’s renowned specialty automaker is getting clearer about its coming times, as there were reports that a Michigan group had purchased the most part of the company during the last week. A unit known as MJ Acquisitions that owned many engine and other auto parts companies had ... 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 Fi... Read more...
Because of declining sales and surging yen, the biggest Japanese automaker Toyota sees its first yearly loss in 71 years. According to the company, it may suffer 150bn yen annual loss in its operating profits. Just like many other countries of the world, the current financial year was depressi... Read more...
Ford Motor Co. reported $129 million loss in the Q3 as the company burned through $7.7 billion in cash. The automaker announces that it will lay off 2,260 more white-collar jobs in North America as the company is struggling to weather the most intense economic downturn. The company lost 6 cents ... Read more...