2009 volvo s60 concept 001

Sweden promises €445 million in loan guarantees to Volvo

The solipsism of American media has a way of quietly filtering out much of the rest of the world, but the car industry is in a pinch just about everywhere. Nowhere is that picture clearer than in Sweden where ailing carmakers Saab and Volvo have been seeking government aid for months. Today word... read more

February 24, 2009 by
The U.S. Treasury building

Treasury announces $1 trillion consumer lending plan

Much bloviation has been unleashed on the poor economy and its impact on the auto industry, but even where consumers have cash and carmakers have cars to sell, it's the... read more February 10, 2009 by

President Barack Obama

Obama caps executive salaries for firms accepting loan money

President Barack Obama today tied another string to the money received by GM and Chrysler, setting a cap of $500,000 on executive salaries for companies in receipt of... read more February 4, 2009 by

Chrysler CEO Bob Nardelli

Chrysler: Please sir, we want some more

Less than a month after receiving the first $4 billion from the federal government’s bailout package for the auto industry, Chrysler has revealed that it needs an... read more January 30, 2009 by

Chevrolet Volt

Texas considering $5,000 tax credit for plug-in hybrids on top of federal incentives

With all the talk of the Environmental Protection Agency (EPA) reconsidering allowing states to implement their own fuel-economy emissions and regulations, and the negative... read more January 28, 2009 by

Ford CEO Alan Mulally

Ford confirms it won't need any loan money

As the economy and the car industry transform to lighter, more compact versions of their previous selves, the primary agent of change is cash. Ford CEO Alan Mulally took an... read more January 26, 2009 by

GM Detroit headquarters

GM receives additional $5.4 billion in federal funding

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 earlier this... read more January 22, 2009 by

Chrysler logo

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... read more January 4, 2009 by


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... read more January 2, 2009 by

GM and Chrysler logos

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... read more January 1, 2009 by


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... read more December 31, 2008 by

2009 Volvo C30

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... read more December 26, 2008 by

Jaguar and Land Rover logos

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... read more December 23, 2008 by

The White House

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... read more December 18, 2008 by

Lamborghini Gallardo Spyder exhaust

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... read more December 17, 2008 by

Chrysler logo

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... read more December 5, 2008 by


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