MotorAuthority

• Chrysler receives $4 billion in restructuring loans

  Late Friday evening Chrysler received its first $4 billion in government loan money from the $17.4 billion approved as an emergency measure late in December, pushing its bottom line closer to the $2.5...

• GMAC loses exclusive GM financing in Treasury loan agreement

  In a filing today with the Securities and Exchange Commission (SEC) GMAC revealed that it will no longer have the exclusive right to finance all of General Motors vehicles, and it will cease all lease...

• GM gets first $4 billion in aid money, Chrysler waits

  The $17.4 billion bridge loan package signed into action by President Bush late in December has begun disbursement, with General Motors receiving $4 billion on Wednesday. Chrysler is still waiting on...

• GMAC drums up $21.6 billion in debt-for-equity swaps

  GMAC has leveraged the recent promise of U.S. Treasury funds to boost its lending capacity, and now it has generated another $21.2 billion in cash via debt-for-equity swaps with its bondholders. The f...

• Volvo reinstates free maintenance on new cars

  Free maintenance programs were once de rigeur for the upper ranks of the automobile industry, but the service has been dying a slow death with brands like Mercedes-Benz and Audi abandoning their progr...

• Tata Motors cash infusion for Jaguar-Land Rover could reach $1B

  When the automotive subsidiary of Indian mega-conglomerate Tata Motors took over Jaguar-Land Rover earlier this year, many feared for the brand's future. Since then, Tata Group chairman Ratan Tata has...

• Canada approves $3.3 billion auto industry bailout

  After conditionally approving an bailout package for the Detroit 3 carmakers that was dependent on the U.S. government approving its own aid fund, Canada’s lawmakers have agreed to offer up to CAD$4...

• Bush signs $17.4 billion auto industry bailout package

  The on-again, off-again saga of the auto industry rescue package has finally come to a (temporary) end: President Bush this morning signed an agreement securing $17.4 billion in loans for General Moto...

• White House considering 'orderly bankruptcy' as an option for GM, Chrysler

  Bankruptcy for one or more major carmakers as a solution to the current automotive downturn has been widely reviled as the worst possible alternative for the carmakers themselves and the industry, and...

• European Parliament agrees to looser CO2 rules

  In September, a committee in the European Parliament proposed easing the carbon dioxide emissions rules previously set to phase in over the next several years, and today the proposal was approved. The...

• GM delays construction of Volt, Cruze engine plant

  As Washington waffles on the auto industry bailout, General Motors has decided to put construction work on hold at the Flint, Michigan engine plant where the 1.4L turbocharged and naturally aspirated...

• Detroit carmakers approach Canada for $6.8B in loans

  A decision on the U.S. government's loan package is expected to come from Congress sometime today, but already carmakers are approaching the Canadian government, seeking more aid. The $6.8 billion sou...

• Report: Chrysler has hired bankruptcy firm Jones Day

  The U.S. Congressional hearings on Capitol Hill are still underway, and thus far no definitive result has been reached. Chrysler CEO Bob Nardelli has at times appeared apologetic and even regretful, b...

• U.S. Department of Energy shoots down $16B in Detroit requests

  Even as America's carmakers plead their case before the U.S. Congress today, the executive branch has rejected $16 billion in grant requests through the DOE's retooling program. The rejection came in...

• Chrysler's viability plan calls for $7 billion emergency loan before 2009

  Just as Detroit compatriots General Motors and Ford are revealing their strategies for future viability - and need for funding in the meantime - Chrysler has come out with its plan for the future, bot...

• Ford submits plan to Congress, promises EVs, possible profits by 2011

  The return trip to Washington by the nation's key automotive CEOs will be a considerably more concrete happening, with real-world plans, hard numbers and specific goals. Ford is the first to announce...

• Report: Jaguar-Land Rover in secret aid talks with UK Government

  The world economy, and especially the automotive industry, is amidst one of the toughest times in several decades or more. Rebuilding confidence in that economy and boosting sales back to profitable l...

• Germany holding aid talks with Opel

  Germany on Monday confirmed it would be holding talks with Opel, General Motors' primary European brand, to discuss the topic of aid for the company should GM cease supplying cash. The concern on Opel...

• Australian government announces $4.3 billion auto industry aid package

  The Australian government has announced today a US$4.3 billion rescue package to bailout the country’s struggling automotive industry. The package will be distributed over a period of 13 years, betw...

• Australia launches campaign against noisy vehicles

  Noise cameras are ready to be deployed across Australia in an effort to ticket and hopefully deter the proliferation of noisy vehicles and machinery on the nation's streets. Several states and territo...

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