Detroit

  • Malcolm Bricklin

    The collapse of GM and Chrysler in recent months has seen the manufacturing employees and the extensive dealer networks of both firms suffer heavily, but now there may be a new and revolutionary product in sight that not only gives flailing dealers a chance to pick themselves up but may also keep manufacturing jobs alive. The simple idea is to take new vehicles from Chrysler and GM and upgrade their interiors and install fuel-efficient powertrains. One entrepreneur considering such an option is Malcolm Bricklin, a man who is widely recognized for his efforts importing Subaru, Fiat and Yugo...

  • GM Warren Tech Center
    Warren encouraging GM to move corporate HQ with tax breaks

    Detroit has long been the heart of America's automotive industry, but 2009 has been a major period of upheaval for the city, with further shocks expected to come - including the possibility that General Motors will move its corporate headquarters out of Detroit downtown area and into a neighbouring...

  • Jimmy Kimmel
    Laid-off Detroit auto workers invited to exclusive Eminem concert on Jimmy Kimmel show

    As many of you would know, the current financial crisis has led to certain industries being forced to lay off hundreds, or even thousands of workers. The Detroit auto industry was one of the worst hit, with major companies such as General Motors and Chrysler teetering on the brink up bankruptcy for...

  • Saab 9-3X
    Saab open to Fiat takeover

    The last thing we heard about Saab was that the struggling General Motors division had up to 20 interested buyers and a May 20 deadline to restructure under the guidance of Swedish courts. Now it’s been revealed that Saab is open to talks with Fiat, which is currently eyeing a takeover of...

  • 2009 Chevrolet Malibu
    Poll: most Americans will buy a new American car within two years

    Despite the troubles in Detroit and Washington for U.S. carmakers, almost three-quarters of the buying public say they'd buy American - and over half of U.S. consumers are in the market for a new car within two years, according to a recent survey. The news is a glimpse of silver lining in the cloud...

  • Cerberus Daimler Chrysler deal
    Daimler agrees to offload 19.9% stake in Chrysler

    Last October Daimler was forced to write-down the value of its remaining 19.9% stake in Chrysler to zero, yet up until now the German auto giant was still trying to sell the shares. Daimler has announced today that is has reached an agreement to unload its remaining stake in Chrysler, while also...

  • Ford CEO Alan Mulally and Chairman Bill Ford Jr.

    Ford has cemented its position as the most viable carmaker out of the Detroit 3, with the company’s first quarter financial results showing some very promising figures. Ford is the only Detroit 3 carmaker operating without federal bailout loans and while it still posted a $1.4 billion loss over the past quarter, its fourth straight quarterly loss, the company still managed to finish with cash reserves of $21.3 billion - up from $13.4 billion at the end of 2008. During this time, Ford also managed to reduce its debt by $9.9 billion, or by about 38%. This performance was achieved during a...

  • 2011 Chevrolet Volt battery system
    Michigan to become battery technology hub with new $1.7 billion investment

    Michigan may be most widely recognized as the home of the troubled Detroit 3, whose past ignorance of creating efficient cars and embracing SUVs has landed them in hot water. Now, the state wants to change this image and create a reputation as a future base for greener cars, an initiative that has...

  • Ford logo
    Ford slashes debt by $9.9 billion with cash and equity deal

    Just as other Detroit carmakers are clamoring for more federal loans, Ford has managed to reduce its debt by almost $10 billion. The news resulted in the stock price of Ford spiking by over 15% - a rare occurrence for U.S. carmakers considering the state of the market. Ford's debt reduction...

  • GM CEO Rick Wagoner
    GM CEO Rick Wagoner resigns, Fritz Henderson takes the reigns

    General Motors has confirmed that CEO Rick Wagoner will resign at the behest of President Barack Obama and his auto industry task force. Wagoner is stepping down from the top spot, effective immediately, and will be replaced by the company’s current COO Fritz Henderson. Wagoner confirmed that...

  • Department of Energy crest
    Department of Energy's $25 billion fuel-efficient vehicle fund still untapped

    Last November, the Department of Energy issued interim rules for the use of a already-approved $25 billion loan package earmarked for the construction of more fuel-efficient vehicles. But now, almost five months later, there has still been no disbursement of the funds. Over 75 applications for the...

  • 2008 Chevrolet Orlando Concept
    U.S. production of Orlando MPV on hold says union official

    While the likes of Audi and Daimler are surging forward with their product development, cash-strapped companies such as General Motors are having to abandon certain market segments and cut back on new model launches just to stay in business. The latest product cuts reportedly taking place at GM...

  • 2009 Saab 9-3

    General Motors and Chrysler just can’t seem to get a break. Not only are they dealing with one of the worst market slumps to hit the auto industry in decades, fears of bankruptcy are turning away potential customers in droves and now those same fears are also sending residual values of their vehicles plummeting. Residual value refers to the value of a car after a certain, specified period of use. The value is calculated as a percentage of the car's original price and it’s these percentage figures that have been dropping sharply for GM and Chrysler, reports the Detroit Free Press...

  • UAW president Ron Gettelfinger
    UAW president Ron Gettelfinger retiring in 2010

    The United Auto Workers (UAW) is one of America's most important unions, and the results of its dissatisfaction have been felt as recently as last year when a strike at American Axle left GM customers without cars for months in certain cases. Now, the UAW's ringleader, Ron Gettelfinger, has...

  • Interstate Traveler Detroit Lansing rail proposal
    Idle Detroit 3 factories could switch to building solar-powered trains

    An ambitious project to bring high-speed rail to the U.S. is underway by private investors, with a route between Detroit and Lansing among the first rail lines on the drawing board. The Interstate Traveler company is currently wooing a state task force, with hopes of gaining permission to build an...

  • Mercedes Benz S400 BlueHybrid
    Daimler confirms Michigan for new hybrid lab

    Daimler has chosen Michigan as the site for a new $10 million research center focusing on alternative propulsion systems, such as hybrid technology. The German auto giant was previously considering building the center in South Carolina or California but chose Michigan following the promise of a...

  • GM CEO Rick Wagoner
    Wagoner admits pre-planned bankruptcy "could work"

    Both General Motors and Chrysler are fearful a bankruptcy would kill whatever consumer confidence the ailing Detroit carmakers may have left but in the latest twist of the saddening U.S. auto industry saga the CEO of GM has revealed that a pre-planned bankruptcy "could work". Rick Wagoner insists...

  • Jay Leno and the Chevrolet Camaro
    Jay Leno poking fun at Detroit with ‘Comedy Stimulus Plan’

    On last night’s episode of The Tonight Show Jay Leno announced his plan for stimulating America with what he does best – telling jokes. Leno will make an appearance in Detroit early next month to perform his standup act and hopefully cheer up many of the employees (both current and...

  • 2011 Chevrolet Volt test mule

    They did it in the nation’s capital at the first round of viability meetings and tomorrow in Detroit government officials will once again be able to drive a prototype for the upcoming Chevrolet Volt plug-in hybrid. This time around the officials will include the Obama administration’s new auto industry task force, who will also be treated with a tour of General Motors’ Warren tech center as well as Chrysler's nearby Warren Truck plant. The group will include Wall Street financier Steven Rattner and Steelworkers union official Ron Bloom, and will be joined by United Auto...

  • Capitol Hill
    GOP senators John McCain and Richard Shelby want bankruptcy for GM and Chrysler

    Former presidential candidate John McCain, as well as fellow republican senator Richard Shelby, both believe that General Motors and Chrysler should go into bankruptcy rather than taking American tax dollars to prop themselves up. McCain is opposed to both the Wall Street bailout and the automotive...

  • 2009 Pontiac G8 GXP
    400hp for $35,000: Pontiac G8 GXP and Dodge Charger SRT8 after incentives

    Whoever said the muscle car era was dead and gone? Right now you can drive away with more than 400hp (298kW) under the hood for around $35,000. The poor state of the economy is taking its toll on vehicle sales (GM just posted its worst sales figures since 1967 in February) but this is also having a...

  • GM vice chairman Bob Lutz
    Bob Lutz: Saab and Volvo should merge

    Swedish carmakers Saab and Volvo are in a similar predicament. One is owned by struggling Detroit carmaker General Motors and the other by Ford, and both are being spun-off from their respective parent companies in light of significant losses over the past couple of years. For Saab, GM simply cut...

  • 2009 dodge challenger rt review 004
    Chrysler incentives cost a massive $5,566 per car in February

    People aren't buying new cars. It's really that simple in a lot of ways; the economy is down, the future is uncertain and no one wants to bet their house that they'll still have a job in six months. So Chrysler has been going wild with incentives to try to prop up sales in a market that just...

  • Cobo Hall Arena
    Detroit City Council rejects plans to expand Cobo Center

    Last month’s Detroit Auto Show saw a number of carmakers pull out for the first time, with many citing a lack of suitable facilities and display space at the event’s venue, Detroit’s Cobo Center, as one of the main reasons for the exodus. To overcome this problem approval was...

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