• Fiat Chrysler Automobiles logo

    Fiat Chrysler Automobiles cut a check for $77 million for failing to meet federal fuel economy requirements in 2016. Consumer appetite for trucks and SUVs has done wonders for the Ram and Jeep brands, but that popularity has a price. Reuters reported last Thursday the multi-million fine is a civil penalty and it could be one sign that automakers continue to have trouble meeting current emissions regulations. FCA continued to argue, like other automakers, assumptions that surround the current regulations finalized in 2012 do not reflect today's reality. Seven years ago, car buyers began to...

  • Cell Phone Safety
    U.S. House Mulls In-Car Cell Phone Ban

    A bill in the U.S. House would ban holding cell phones while driving, except in case of emergency.

  • Army's NASCAR sponsorship
    House Democrat Renews Bid To Kill Military NASCAR Sponsorship

    The attack on military spending in motorsports, especially NASCAR, is once again strengthening. But is it really a boondoggle, or is it a value-conscious way to advertise the military's brands?

  • Pulled over by the police
    Senators Push Apple, Google To Nix DUI Apps -- But Does It Matter?

    In March, we told you that four U.S. Senators had pushed Apple, Google, and Research In Motion (creators of the Blackberry) to remove apps that revealed the location of DUI checkpoints. At the time, RIM was the only provider that agreed to do so, but now Apple and Google have indicated that they...

  • Chrysler and Fiat logos
    Fiat Agrees To Pay $1.27 Billion For Additional 16 Percent Chrysler Stake

    Fiat has confirmed its commitment to increasing its stake in Chrysler by 16 percent in the event that the U.S. automaker refinances its loans from the U.S. and Canadian governments. Fiat is essentially exercising its option to acquire an incremental 16 percent stake at a price of $1.27 billion upon...

  • Koenigsegg CCX supercar
    Official: GM And Koenigsegg Reach Agreement Over Saab

    The sale is expected to close by the end of the third quarter.

  • GM Detroit headquarters

    General Motors' recent bankruptcy proceedings have seen the company transformed as it leaves behind failing assets, and according to the company these changes have also been reflected through a restructured board of directors. Five new members have been added to the board following the bankruptcy, with major stakeholders being given discretion to hire new board members depending on the size of their stake. For the U.S. Treasury, which now owns roughly 68% of GM, the government department was able to select 4 of the new 5 board members. The Treasury appointed Daniel F. Akerson, David...

  • Chrysler Group dealership
    Chrysler unveils ‘Double CA$H For Your Old Car’ incentive program

    Chrysler today announced a new incentive program dubbed ‘Double CA$H for Your Old Car’ that can save consumers up to $9,000 toward the purchase of a new Chrysler, Jeep or Dodge vehicle. Under the program, everyone shopping for a new car or truck qualifies for an incentive of up to...

  • GM Detroit headquarters
    Bankruptcy court approves GM asset sale

    General Motors is one step closer to emerging from bankruptcy, with a judge on Sunday approving an asset sale to allow the most profitable assets to exit bankruptcy protection under government ownership. Judge Robert Gerber of the U.S. bankruptcy court in Manhattan said the sale would "prevent the...

  • Koenigsegg CCX supercar
    Saab buyer to be revealed this week, most likely Koenigsegg

    The ongoing tale of Saab's sale may be drawing to a close, as early reports out of Sweden today have General Motors and Swedish supercar maker Koenigsegg, along with a group of Norwegian investors, agreeing to the deal in a letter of intent. GM confirmed in its February viability plan that it would...

  • Chrysler Group dealership
    Tax break on new cars extends to all 50 states

    No one at this point doubts the country's, or the world's, economic woes, most especially those within the car industry. So the announcement today that the U.S. Treasury has expanded its offer of a tax break on new car sales to those bought in states without a sales tax comes as a welcome aid...

  • 2011 Jeep Grand Cherokee
    Supreme Court allows sale of Chrysler to Fiat

    The Supreme Court has approved the sale of substantially all of Chrysler's assets to Fiat, helping to finalize their alliance as well as the American automaker’s bankruptcy proceedings. Approval was given for the $2 billion sale of the assets to a new company that will be 68% controlled by a...

  • Meet the new GM...not quite the same as the old GM

    In times of trouble, companies need a solid leader to help turn their fortunes around. You only need to look at what Fiat has achieved in the past few years with Sergio Marchionne at the helm to understand the benefit of appointing a turnaround expert. To help facilitate GM's turnaround, the struggling automaker is expected to appoint Al Koch as its chief restructuring officer - an executive that has been involved with GM since the start of the year. Koch's job will be to manage GM's poorly performing assets, which will include liquidating assets and selling off brands such as Hummer and...

  • 2011 Jeep Grand Cherokee
    Judge allows sale of Chrysler assets to Fiat

    A U.S. bankruptcy judge on Sunday approved the sale of substantially all of Chrysler's assets to Fiat, helping to finalize the two automaker’s alliance as well as the American company’s bankruptcy proceedings. Approval was given for the $2 billion sale of the assets to a new company...

  • GM American flag
    Official: GM files for Chapter 11 bankruptcy

    General Motors today announced that it has filed for Chapter 11 bankruptcy following an agreement reached with the U.S. Treasury and the governments of Canada and Ontario to accelerate its reinvention and create a leaner and stronger "New GM". The filing is the third-largest in U.S. history and the...

  • Meet the new GM...not quite the same as the old GM
    GM bondholders agree to take 25% of new company, U.S. Treasury gets 72.5% ownership

    As General Motors prepares for a bankruptcy announcement on June 1, the U.S. Treasury is helping to pave the way by releasing a new deal that leaves GM's bondholders with 25% of the restructured company, and the government as a 72.5% 'inactive' stakeholder. Winning the support of the bondholders...

  • 2009 Volvo XC70
    Volvo may receive lifeline from Belgian government

    Despite Volvo being a Swedish company, the trouble-stricken carmaker may have to look to the Belgian government for financial aid to help keep it on its feet. Volvo currently operates a plant in the Flanders region of Belgium, and the Flemish Premier Kris Peeters has been in talks with Volvo CEO...

  • GM American flag
    GM receives additional $4 billion in Treasury loans

    General Motors received an additional $4 billion in loans from the U.S. Treasury late on Friday, while also reaching a cost-cutting agreement with the Canadian Auto Workers union ahead of a rumored Chapter 11 bankruptcy filing expected next week. This is in addition to the $19.4 billion already...

  • GMAC Logo

    As the economy and car market continue to stagnate, it's becoming increasingly obvious that the bailout funds already paid to industry players like General Motors, Chrysler, and their financing arm GMAC, were just the tip of the iceberg. Today the Obama administration proved that point by handing over another $7.5 billion in funds to GMAC. The new GMAC has the duty of financing not just GM's customers, but also Chrysler's now that the administration has required them to. So ensuring GMAC's success is a necessary element in the GM-Chrysler restructuring effort. "This new arrangement with GMAC...

  • A UAW worker assembling a Hummer H3T
    GM and UAW reach tentative deal

    The U.S. Treasury, General Motors and the United Auto Workers have reached a tentative bargain on how they'll deal with changes to the current agreement in the face of the industry's problems and GM's increasingly probably bankruptcy. The details of the deal are being kept quiet until the local...

  • 2009 Saab 9X Air Concept
    GM ties with Saab will remain in future models

    The future of Saab is starting to look much brighter, thanks in part to important concessions from General Motors to help it build and design its own range of cars in the future, as well as a likely extension from Swedish courts for its restructuring deadline. For a while it looked as though Saab...

  • Jaguar XKR production line
    Jaguar and Land Rover bailout talks close to breakdown

    Although most of the news of late tends to focus on GM and Chrysler, these Detroit-based carmakers are not the only companies trying to gain vital government support in order to stay propped up in the current economic climate. While there's no doubt the global financial crisis has affected the U.S...

  • E85 fueling station
    Obama administration moves to boost biofuels with $787 million package

    As the U.S. struggles to bootstrap itself out of one of the worst economies in decades, the federal government continues its spending spree, earmarking $787 million to biofuels. The goal is ostensibly to meet a target set by former President George Bush of 36 billion gallons of biofuel in the...

  • Chrysler CEO Bob Nardelli
    Chrysler CEO Bob Nardelli sheds light on resignation

    News of Chrysler CEO Bob Nardelli's departure has been making the rounds recently, but now the resigning chief has shed some light on the matter. Unlike his former counterpart at General Motors, Nardelli insists that he was not asked by the Obama administration to step down from the helm at...

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