U.S. Treasury invests $7.5 billion in GMAC

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... read more

May 22, 2009 by
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... read more May 6, 2009 by

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... read more May 1, 2009 by

Chrysler Group headquarters

White House confirms bankruptcy plans for Chrysler, Nardelli to step down

The White House has announced Chrysler's entry into bankruptcy protection today, with talks between the Treasury Department and the carmaker failing to reach an agreement on... read more April 30, 2009 by

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... read more April 28, 2009 by

Fiat Chrysler logo

Fiat threatens to walk away from Chrysler deal

At the end of March the President's task force on the auto industry put a 30-day window on Chrysler and Fiat reaching an alliance agreement. Just hours later Chrysler... read more April 15, 2009 by

2011 Chrysler 300 preview

Chrysler previews interior for next-gen 300

Brand new versions of both the Chrysler 300 and Jeep Grand Cherokee are coming in the next couple of years, kicking off a product renaissance at Chrysler that will include... read more April 9, 2009 by

Capitol Hill

Suppliers only allocated $3.5 billion in aid, not $5 billion

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... read more April 7, 2009 by

Canadian parliament

Canada follows U.S. lead and rejects GM and Chrysler viability plans

Canada has followed the lead of the U.S. and rejected the respective viability plans of General Motors and Chrysler, claiming the plans do not go far enough in their current... read more March 30, 2009 by

Ratan Tata

Ratan Tata asks British government to offer assistance to Jaguar-Land Rover

Warning of impending layoffs should government aid for Jaguar-Land Rover not arrive soon, Tata Motors Chairman Ratan Tata restated the need for government-sourced funds. An... read more March 24, 2009 by

President Barack Obama

Obama approves $2.4 billion in electric vehicle funding

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... read more March 20, 2009 by

Canadian parliament

Chrysler threatens to pull out of Canada

General Motors and Chrysler have told authorities in Canada they need as much as $8 billion in aid to stay afloat, more than double the original amount requested just three... read more March 12, 2009 by

Fiat and Chrysler logos

Marchionne confident Fiat can help Chrysler

The Fiat-Chrysler partnership has been brewing since well before the economic meltdown and federal loan bonanza of late 2008, but it's still taking shape as the carmakers... read more March 5, 2009 by

GM American flag

GM auditors have 'substantial doubt' about the company's survival

Once again General Motors is issuing a warning that it may run out of cash. How, you might wonder, considering the billions in taxpayer dollars that have already been pumped... read more March 5, 2009 by

The U.S. Treasury building

Washington kickstarts credit market with $200 billion in consumer loans

In a plan to stimulate the flailing American economy and instill confidence in the credit market once more, the U.S. federal government will be launching a new $200 billion... read more March 5, 2009 by

This 2001 Chevrolet Monte Carlo is about the age of the average American car

Germans scrap clunkers as Americans hang on to theirs longer than ever

The U.S. Senate killed the 'Cash for Clunkers' bill in February on the argument that it wouldn't have enough of an impact. While they may have been right - the bill only... read more March 4, 2009 by


© 2018 MH Sub I, LLC. All Rights Reserved. Stock photography by izmostock. Read our Cookie Policy.