Daily News Channel
Chrysler and GM will force 2,000 car dealerships to close. This event has elicited a great many opinions from industry experts. The consensus is that the most damage to the car companies will come from the anxiety facing potential customers who may buy automobiles at these dealers and expect to have them serviced there.
Fiat Group, fresh from an agreement to buy a piece of troubled automaker Chrysler, has plans to purchase GM Europe and spin-off the recombined carmakers into a new company. If successful, the new company would become one of the largest car manufacturers in the world behind Toyota. The combined company would generate about $100 billion a year with sales of between 6 and 7 million cars a year.
The United Auto Workers union announced Sunday it had reached an agreement with Chrysler, Fiat and the U.S.
Chrysler turned down additional government funding this month because executives at the troubled auto manufacturer could not agree to new government-mandated limits on executive pay, according to a source familiar with the matter.
Despite the pressure of Chrysler’s April 30 deadline to pull off a rescue package — or face potential bankruptcy — the United Autoworkers has been in no rush to make concessions. “As I see it, the United Auto Workers union has a choice
The automobile business is great. Just ask someone who’s in it. “People want to buy cars,” says Rod Buscher, CEO of Summit Automotive Partners in Denver, which owns 30 assorted dealerships nationwide.
German chancellor Angela Merkel on Tuesday pledged government support for potential investors in General Motors’ European subsidiary, Opel.
Americans don’t favor handing billions more dollars to U.S.
A central Colombian farm worker has been accused of raping his daughter for decades and fathering eight children with her. White House and GM sources had told CNN Sunday that Wagoner would resign as part of the federal government’s bailout strategy for the troubled automaker. “On Friday I was in Washington for a meeting with Administration officials.
General Motors CEO Rick Wagoner announced his resignation early Monday — the latest change for the troubled automaker. White House and GM sources had told CNN Sunday that Wagoner would resign as part of the federal government’s bailout strategy for the troubled automaker. “On Friday I was in Washington for a meeting with Administration officials.