Last year’s howls of outrage when U.S.
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Tag Archives: auto
Federal Help for Boat Dealers: All at Sea
Should struggling boat dealers get the same sort of bailout from the federal government that is being doled out to the flailing auto industry? The Small Business Administration thinks so.
U.S. judge approves sale of GM assets
A U.S. federal judge in the GM bankruptcy case late Sunday approved the sale of the troubled automaker’s assets to a "new GM," court documents showed. Judge Robert Gerber, in giving his approval, said it “is the only available means to preserve the continuation of GM’s business.” Lawyers wrapped up their closing arguments in the bankruptcy case Thursday, giving Gerber the long holiday weekend to make his decision
New ‘Urban Car’ claims to slash CO2 emissions by two thirds
A former motor-racing engineer has unveiled a prototype of a new hydrogen-powered city car which claims to emit less than one third of the carbon emissions produced by its nearest rival. The creators of the ‘Urban Car,’ UK-based company Riversimple, say the vehicle emits less than 30 grams per kilometer of carbon dioxide, less than one third of the carbon produced by the Polo Bluemotion.
Obama to Tighten National Fuel-Economy Standards
In a landmark decision on climate change and energy, President Barack Obama will announce tough new vehicle gas-mileage standards on Tuesday, the first ever national limits on greenhouse-gas emissions. The new policy, which was worked out between Washington, state governments and the auto industry, will require automakers to meet a minimum fuel-efficiency standard of 35.5 miles a gallon by model year 2016 — four years earlier than Congress currently requires. Not only could the move potentially kick-start the sputtering U.S
Auto-Tune the News
Is it just me, or does this sound like an R. Kelly song? A 24-year-old Brooklyn musician named Michael Gregory has combined a number of evening news broadcast clips and turned them into a vaguely acceptable faux R&B series called Auto-Tune the News
The Other GM
At last month’s glitzy Shanghai auto show, held in the only significant car market in the world that’s still growing, Nick Reilly, the president of GM Asia-Pacific, knew the question would come. Still, he winced a bit when a Chinese journalist asked him what would happen to Detroit’s fallen giant if it was forced by the U.S. government to declare bankruptcy
Toyota reports first annual loss
Toyota reported a first-ever annual net loss of $4.4 billion on Friday, the latest automobile maker to be battered by the credit crisis. Net revenue for the fiscal year ending March 31 was down nearly 22 percent, with total sales of 7.6 million vehicles — 1.3 million fewer than the previous year. The company dividend will be reduced to 100 yen per share, down from 140 yen per share last year The appreciation of the yen against major currencies, rise in raw material costs and the collapse of the auto market in Europe and North America led to the company’s annual loss, said Katsuaki Watanabe, Toyota president, at a press conference.
Will Chinese consumers rescue world economy?
When CEOs and professional investors in developed economies go to bed these days, some may pray for protection from markets in turmoil, share prices in the cellar and angry financial gods bringing fire and brimstone with every check of their Bloomberg terminal or the front pages of The Wall Street Journal. “Spend, China,” they whisper.
UAW agrees to ‘painful’ concessions to save Chrysler
The United Auto Workers union announced Sunday it had reached an agreement with Chrysler, Fiat and the U.S.