Daily News Channel
Chevy Volt’s 230 MPG sounds good, but what about 60 MPK or 25 KPM? The array of advanced car technologies hitting the consumer marketplace has brought about enough boasts, confusion, and questions to fill a gas-guzzling SUV’s cargo hold
General Motors’ foreshortened bankruptcy, which was finished with the emergence last week of a “new” GM, owes a thank you to the Chrysler Group for blazing a short, quick path through the courts. Now GM’s recovery will rest on its ability to hold onto customers or win over new ones.
General Motors, the nation’s largest automaker and for decades an icon of American manufacturing, stood on the brink of a bankruptcy filing and a de facto government takeover on Monday. A bankruptcy petition will be filed at 8 a.m., according to a source with direct knowledge of the bankruptcy proceedings. President Barack Obama will address the nation shortly before noon on Monday to explain the rationale for the filing, and his hopes that this is the best route for a turnaround, two officials close to the situation told CNN.
As he stood in the rose garden on May 19 with state governors and auto executives to announce a new deal that tightens automobile fuel-efficiency standards, Barack Obama took note of the glorious weather. “The sun is out because good things are happening,” he said. Many environmentalists — who spent the eight years of the Bush Administration in the cold — would agree.
General Motors appears to be on a fast road to bankruptcy . Chief executive officer Fritz Henderson has already described a bankruptcy filing as ‘probable’ as the U.S
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.
In his first week as president and chief executive officer of General Motors, Fritz Henderson expressed optimism that he can steer the company out of the economic rut in which it has stalled.