Auto Sales for March Offer Hope

DETROIT -- New-vehicle sales fell in March for a 17th consecutive month, but carmakers said that proposed federal incentives and reports from dealers of increased sales in the last week of the month could mean the market was bottoming out,...

China Vies to Be World's Leader in Electric Cars

TIANJIN, China -- Chinese leaders have adopted a plan aimed at turning the country into one of the leading producers of hybrid and all-electric vehicles within three years, and making it the world leader in electric cars and buses after...

CarMax 4Q profit rises on lower expenses

RICHMOND, Va. -- Auto retailer CarMax said Thursday its fourth-quarter profit jumped 72 percent as lower expenses and a profit in its financing arm offset the impact of falling sales, according to The Associated Press. The earnings beat Wall Street...

Glimmer of hope in March's steep auto sales drop

Glimmer of hope in March's steep auto sales drop DETROIT -- March proved to be another dismal month of steep declines for U.S. auto sales as low consumer confidence and job uncertainty continued to keep buyers away from showrooms, but...

Automakers post steep sales drops for March

DETROIT -- March proved to be another dismal month of steep declines for U.S. auto sales, as low consumer confidence and job uncertainty kept buyers away from showrooms, according to The Associated Press. General Motors Corp. led the slide with...

Ford's US sales drop 41 percent in March

DETROIT -- Ford Motor Co. says its March sales in the U.S. fell 41 percent from a year earlier as low consumer confidence and job uncertainty continued to keep buyers away from showrooms, according to The Associated Press. The Dearborn-based...

Grim U.S. car sales seen, but incentives help in Europe

PARIS/DETROIT - The U.S. auto industry struggled to restructure and added deals to get buyers back into their showrooms, hoping to mimic the incentive-driven successes their European rivals started to see during March, according to Reuters. The embattled U.S. car...

GMAC to ease dealer financing charges

NEW YORK -- GMAC says it will temporarily eliminate and waive some fees and payments for dealers in an effort to ease the pressures stemming from the steep drop in demand for new vehicles, according to The Associated Press. General...

Potential GM bankruptcy plan includes company split

NEW YORK - A possible bankruptcy plan being discussed for General Motors includes quickly forming a new company of the automaker's most profitable parts, while a group of other units would remain under bankruptcy protection for a longer period, a...

Backseat Driver: Chrysler to the wolves?

If President Obama's Automotive Task Force (ATF) is preparing to reorganize General Motors through a quick and controlled bankruptcy filing, it seems to be prepared to wash its hands of Chrysler altogether. While Ford has stayed serenely above the current...

Backseat Driver: Obama wakes up GM - and world!

Finally! With his dramatic decision to oust General Motors chairman Rick Wagoner, President Obama has created the possibility that the company will end its interminable death spiral and emerge from this mess as a viable entity. And in a move...

The Last Best Chance for Detroit

President Obama struck an acceptable compromise on Monday between two unappealing options: letting General Motors and Chrysler go bankrupt right away or giving them tens of billions of dollars more while hoping for the best. Instead, he decided to finance...

Ford, GM to cover car payments if buyer loses job

DETROIT -- Ford Motor Co. and General Motors Corp. are offering payment protection plans to help reassure consumers who may be putting off buying a new car because of worries about losing their job, according to The Associated Press. The...

GM's new CEO, Fritz Henderson, last month. The company's former COO takes over from Rick Wagoner who was ousted by the Obama administration. (AP Photo/Carlos Osorio) DETROIT -- General Motors Corp.'s new chief executive said Tuesday that more of...

With autos, Obama expands government's role

WASHINGTON -- President Barack Obama's extraordinary auto industry intervention is assertive and coldly pragmatic, with a dose of caution and a sentimental nod to the automobile's place in the American psyche, according to The Associated Press. Obama's curt rejection of...

Chrysler backs off announcement of Fiat alliance

Chrysler has backed off its own statement announcing an alliance with Fiat S.p.A., saying the potential partners have only a "framework" accord, according to Automotive News. The disclosures came in back-to-back releases Monday after President Barack Obama gave Chrysler 30...

White House questions viability of GM, Chrysler

WASHINGTON -- President Barack Obama refused further long-term federal bailouts for General Motors and Chrysler, saying more concessions were needed from unions, creditors and others before they could be approved, according to The Associated Press. He raised the possibility Monday...

The Steady Optimist Who Oversaw G.M.'s Decline

DETROIT -- In recent years, despite many challenges to his leadership of General Motors, Rick Wagoner had managed to keep a firm grip on his job, like hands wrapped tight around a steering wheel, according to The New York Times....

White House questions viability of GM, Chrysler

WASHINGTON -- President Barack Obama is sending a blunt message to Detroit automakers: To survive - and win more government help - they must remake themselves top to bottom, according to The Associated Press. Driving home the point, the White...