Chrysler

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Bush OKs $25B for Car Giants

Money tabbed to help automakers in transition to fuel-efficient vehicles

(Newser) - President Bush today approved the $25 billion in low-interest loans aimed at helping US automakers in their transition to building more fuel-efficient vehicles, the Wall Street Journal reports. The industry long pushed for the package, estimating the total cost of the makeover at $100 billion. It’s now up the...

House OKs $25B Detroit Rescue
 House OKs $25B Detroit Rescue 
Sep 25, 2008 3:29 AM CDT

House OKs $25B Detroit Rescue

Package of low-interest loans aims to prop up staggering auto industry

(Newser) - The House has approved a $25 billion lifeline to Detroit's battered auto industry, the Detroit Free Press reports. The package of low-interest loans to help automakers switch to manufacturing more fuel-efficient vehicles is expected to be approved by the Senate today and signed by the president soon after. Michigan lawmakers...

Chrysler Goes Electric
 Chrysler Goes Electric 
Sep 23, 2008 12:20 PM CDT

Chrysler Goes Electric

Firm to offer hybrid and pure-electric models in 2010

(Newser) - Chrysler is hopping on Detroit's belated eco-friendly bandwagon, a source tells the Wall Street Journal, with a full stable of electric cars and trucks that it plans to market starting in late 2010. While most of the planned models are hybrids, at least one will be a fully electric car...

Auto Giants Press Congress for $25B Loan

Credit pinch, oil prices could cost thousands of jobs, execs say

(Newser) - The CEOs of US auto giants seem to have convinced some in Congress they, too, need billions in federal loans, the Detroit Free Press reports, though it’s uncertain if they’ll get the $25 billion they’re asking for. High oil and commodity prices and tightened credit threaten jobs...

Hank and Ben: Time to Play Offense
 Hank and Ben: 
 Time to Play Offense 
OPINION
Sep 17, 2008 7:15 AM CDT

Hank and Ben: Time to Play Offense

Treasury and Fed need to start playing offense, says Leonhardt

(Newser) - If you'd told economists 18 months ago what lay ahead in the financial industry, predictions for the American economy would be dire. The fact that things aren't totally awful—we still haven't entered into a recession—is testament to the good defense of Hank Paulson and Ben Bernanke. What they...

Viper Might Be Luxury Chrysler Can Do Without
Viper Might Be Luxury Chrysler Can Do Without
ANALYSIS
Aug 28, 2008 3:15 PM CDT

Viper Might Be Luxury Chrysler Can Do Without

Automaker needs to raise $1B, and hot rod looks odd model out

(Newser) - Despite a $1.1 billion operating profit in the first half of the year, Chrysler is hemorrhaging money. In a bid to raise another billion, the company is looking to sell off its iconic Dodge Viper line, BusinessWeek reports. The Viper has sold a mere 594 cars since January, and...

Chrysler Looks to Team With Nissan on Midsized Cars

US automaker plans to expand outsourcing deals as it searches for profitable course

(Newser) - Chrysler is in talks to team up with Nissan to produce midsized cars, the Wall Street Journal reports, following an earlier deal to jointly produce pickup trucks and subcompact cars. The move could represent what the Journal calls a "radical new business model," in which Chrysler becomes a...

Chrysler to Scrap Leasing
 Chrysler to Scrap Leasing
Jul 26, 2008 12:07 PM CDT

Chrysler to Scrap Leasing

Struggling automaker says it will focus more on financing loans

(Newser) - Chrysler will no longer offer auto leases through its financial arm, due to the declining value of used automobiles, particularly trucks and SUVs, the Detroit Free Press reports. Instead, it plans to focus on financing, which could lead to better deals for those who buy cars through loans. Given the...

Rental Biz Sees Small-Car Shortage

Demand for small cars on rise, as is anger at 'upgrades'

(Newser) - Rental car companies can't meet the soaring demand for more fuel-efficient small cars and are forcing irritated customers to take "upgrades" to gas-guzzlers. Rocketing gas prices are putting pressure on Hertz, Avis, and other companies to sell their luxury cars and SUVs to pay for fuel-efficient models. Bookings for...

Chrysler Plans Wi-Fi on 2009 Models
Chrysler Plans Wi-Fi
on 2009 Models
Jun 25, 2008 8:30 AM CDT

Chrysler Plans Wi-Fi on 2009 Models

The struggling automaker will have wireless Internet options available

(Newser) - Struggling automaker Chrysler—the weakest of Detroit’s Big Three—is looking to the information highway to gain an advantage. To the dismay of some highway safety experts, the automaker will offer wireless Internet access as an option in all of its 2009 models, the Los Angeles Times reports.

Plunging Truck Sales Drive Ford Deeper Into the Red

Shift away from large vehicles means a rocky road ahead for Detroit's Big 3

(Newser) - Ford's recovery plans have been sent careening off the road by the continuing drop in truck and SUV sales, the Wall Street Journal reports. The company, which now expects this year's losses to top 2007's $2.7 billion, has given up hope of being back in the black by 2009....

Sales of Hybrid SUVs Stuck in Neutral
Sales of Hybrid SUVs
Stuck in Neutral
May 31, 2008 11:15 AM CDT

Sales of Hybrid SUVs Stuck in Neutral

New truck-based models save gas, but they're still costly

(Newser) - As sales drop for traditional SUVs, GM and Chrysler have high hopes for hybrid versions of their popular truck-based vehicles—but sales thus far haven’t been impressive, the New York Times reports. GM has sold 1,100 of its Chevrolet Tahoe and GMC Yukon hybrids—pacing far behind the...

Buy Our Minivan, Give Your College Fund a Boost: VW

$1,500 incentive offered with purchase of Routan model

(Newser) - Volkswagen is offering an innovative incentive to parents to buy their Chrysler-built Routan minivan: $1,500 in a college savings plan, Left Lane News reports. The partnership with Upromise might pale to those with more pressing concerns (or who hate planning ahead), though: Chrysler itself is offering a credit card...

Detroit Looks to Pump Up Exports

US automakers say cheap dollar, low-cost labor puts them in driver's seat

(Newser) - The dollar’s declining value, lower labor costs, and other terms of new UAW deals have US automakers looking overseas as they attempt to reclaim market share and profitability, reports the Wall Street Journal. About half of US vehicle exports in 2007, which totaled $50.66 billion, went to Canada...

March Auto Sales Hit the Skids
March Auto Sales
Hit the Skids 
Apr 2, 2008 4:00 AM CDT

March Auto Sales Hit the Skids

GM, Chrysler Down 19%, Toyota, Ford Dip 10%

(Newser) - US auto sales plummeted last month, with GM and Chrysler's March sales diving 19%, and Ford and Toyota's down 10%, the Wall Street Journal reports. Rising gas prices, the credit crisis and fear of the future are blamed for the troubling trend. Detroit is bracing for even more bad news...

Small Is the New Big
 Small Is the New Big 
Mar 20, 2008 2:36 PM CDT

Small Is the New Big

Automakers turn attention to the subcompact, abroad and at home

(Newser) - Ever-increasing gas prices, environmental concerns and demand in developing countries are leading worldwide small-car sales past those of larger counterparts, Newsweek reports. With cars like India’s Tata Nano set to overhaul the auto industry by offering new mobility to millions, US automakers are scrambling to retool their businesses to...

Car Makers Prepare for a Crash
 Car Makers Prepare for a Crash 
Mar 20, 2008 9:06 AM CDT

Car Makers Prepare for a Crash

Big Three see sales slump ahead

(Newser) - The slumping US  economy is casting shadows over the New York Auto Show, as industry forecasters this week cut their projections for sales of new cars and light trucks in 2008 to less than 15 million, the lowest level in 14 years. Chrysler, GM, and Ford, who had been projecting...

Chrysler Will Shut Down for 2 Weeks
Chrysler Will Shut Down
for 2 Weeks
Mar 13, 2008 1:32 PM CDT

Chrysler Will Shut Down for 2 Weeks

Forced July vacation part of automaker's revamping effort

(Newser) - Chrysler plans to shut down all operations for two weeks in July to save money and “accelerate Chrysler's recovery and transformation,” CEO Robert Nardelli writes in a company memo. Employees will take a forced break July 7-20 “in order to create better alignment and efficiency across organizational...

US Car Sales Sink in Slow Economy
US Car Sales Sink in Slow Economy
Mar 3, 2008 9:45 PM CST

US Car Sales Sink in Slow Economy

GM, Ford, Chrysler, and Toyota saw sales fall last month

(Newser) - A tumbling US economy hit Ford, General Motors, Chrysler, and Toyota today as all four posted declining sales for last month, Bloomberg reports. Chrysler fell 14% as Ford dropped nearly 7% and GM suffered almost a 20% drop in light truck sales. "Primarily it's driven by the weak economy,...

NAFTA Casts Wide Shadow on Ohio Vote

Clinton, Obama look to score points bashing trade pact

(Newser) - As Hillary Clinton and Barack Obama battle for votes in Ohio, each pushes a simple theme: NAFTA is bad. Ohio has been hit hard by free trade, which is why Obama reminds voters that Bill Clinton backed NAFTA. And both hopefuls have mined each other's comments for anything that favors...

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