Barack Obama

General Motors is currently seeking a buyer for Hummer, is looking to sell a stake in Opel, plans to cut its ties with Saab, and is open to almost anything with Saturn, but despite the drastic moves the auto industry task force established by President Obama is still seeking more. After rejecting...

In the first major sign that the U.S. government was keen on helping out the entire domestic auto industry and not just the Detroit 3 carmakers, the U.S. Treasury approved a $5 billion aid package last month for automotive parts suppliers. The aid is to come in the form of guarantees for...

The 'cash for clunkers' type programs have proven hugely successful in Europe - particularly in Germany - and today President Obama put his support behind at $7,500 trade-in incentive for old cars. Along with the car scrapping push, Obama has also lent his support to a set of new car tax incentives...

When you're Rick Wagoner, you get a golden parachute even when you're thrown out of the plane. The news today of Wagoner's $20 million retirement package might come as a surprise to some, following so closely on the heels of his Presidential ouster over the weekend. Wagoner won't get the cash all...

The Obama administration auto industry task force has rejected viability plans for General Motors and Chrysler and threatened that both may be forced into bankruptcy unless further sacrifices are made. The task force has consistently stated that its goal is to solve the industry's problems rather...

You might disagree with his methods, but you can't deny President Obama's determination to improve the U.S. car industry's situation and to remedy the nation's current energy policy. Part of both plans is a rise in the fuel economy requirements to 27.3mpg fleet-wide by 2011. It's actually a step...

For some time now the American environmental movement, especially in regards to CO2 emissions from cars, has been held back by state-specific legislation that makes it difficult to demand uniform change across the nation. A new proposal from the Environmental Protection Agency (EPA), however...

The short-sightedness of the car-buying public is breathtaking. It was just months ago that fears over $4 gas prices had people scurrying about, dumping loaded SUVs for a fraction of their purchase price and replacing them with smaller, more efficient vehicles. But today, with fuel well under $2...

If asked whether General Motors or Chrysler were in a better financial position, many of us would conclude that GM looks better. However, Chrysler's chief financial officer Ron Kolka has come out boasting that Chrysler, "on a pure-business basis," is more viable. The reasoning behind the claims is...

Calling the U.S. federal government's expenditures under the end of President Bush's tenure and the beginning of President Obama's a 'spending spree' is to beggar the term understatement. But in many instances, there hasn't been a valid alternative aside from letting parts of the economy wither and...

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...

The resurgence in domestic car quality (it's real) hasn't quite caught up with the members President Obama's newly-formed Task Force on the Auto Industry, or at least so it would seem from their personal car choices: 18 of 20 members and senior aides drive imports. It's not a surprise the majority...

Detroit's carmakers are due to submit their latest viability plans to the government later today, but already a White House source has leaked that General Motors and Chrysler will both be getting new loan funds. GM's $4 billion loan and Chrysler's $3 billion will bring the total amount handed out...

A lot of hullabaloo on the topic of the need (or lack thereof) to act quickly and decisively on the economy, and to help kick-start the car industry in particular, has been flying about living rooms, bars, offices and Houses of Congress lately. To help give some life to the debate, the analysts at...

President Obama and his administration has made much political hay over the impending disaster that could befall the U.S. economy barring swift action. Today Obama called directly on the American auto industry for a clear plan for viability so the government could step up its aid. Speaking with...

General Motors has made it clear that it intends to focus most of its resources on just four core brands in North America but has left much doubt about the long-term viability of its other brands. The Buick, Chevrolet, Cadillac and GMC brands accounted for 83% of GM's total sales volume in the U.S...

President Barack Obama this week kept a campaign promise that could potentially allow California and other states to set their own fuel economy and vehicle emissions standards by signing a memorandum to the Environmental Protection Agency requiring it to reconsider California's application for a...

The first $13.4 billion in auto industry loan funds have been disbursed to General Motors and Chrysler, but already Michigan's congressional representatives are seeking another $25 billion in industry loans. The funds would be targeted at suppliers and carmakers, with some funds set aside to help...

In a reversal on Bush's prior commitment to make a decision on the issue of Corporate Average Fuel Economy (CAFE) standards, the U.S. Department of Transportation (DOT) today revealed it will not make a decision before President-Elect Barack Obama takes office later this month. Proposed CAFE...

The heads of the Detroit 3 headed to Washington earlier this month in the hope of securing a second emergency aid package to supplement the previously earmarked $25 billion for more efficient vehicles to meet looming CAFE regulations. Unfortunately for the carmakers, top Democratic legislators...