ELECTRIC VEHICLE Manufacturer Vectrix - the outfit behind the Vectrix electric scooter that TMR tested late last year - has officially filed for Chapter 11 bankruptcy protection in the US this week.

Vectrix is expected to follow the same path taken by GM, using bankruptcy protection to sell itself to New Vectrix LLC, a company [...]

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CARVER EUROPE, the Dutch company responsible for the extraordinarily dramatic Carver One three-wheeler, has declared bankruptcy and closed up shop.

While not exactly possessing the broadest consumer appeal, the Carver One - which put in an appearance at the Melbourne Motor Show - boasted a unique and innovative automatic tilting mechanism that improved manoeuvrability while looking [...]

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GENERAL MOTORS is looking to divest itself of around AU$15 billion in costs during its Chapter 11 reorganization, leading to a GM that could actually turn a profit, spend more on development, and resuscitate supply lines when existing stock clears out and new models can once again become the focus.

GM is also hoping to [...]

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GM US HAS OVERNIGHT moved one step closer to bankruptcy following the rejection of a debt for equity offer by GM to its bondholders (the banks and institutions holding US$27.2 billion in GM debt securities).

Chapter 11 bankruptcy protection for GM is now all-but certain; perhaps as early as tomorrow. Of such a size and [...]

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Chrysler LLC has filed for Chapter 11 bankruptcy overnight and at the same time announced what is being referred to as an ‘industry-changing’ deal with Fiat.

Chrysler has spent weeks negotiating with its lenders in an attempt to avoid bankruptcy, but has failed to gain the support needed.

This is the best result given Chrysler’s huge restructuring [...]

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While Chrysler and Fiat nut out an alliance deal that will meet the needs of both manufacturers, the US Treasury is, according to The New York Times, already preparing the paperwork for the embattled American carmaker’s bankruptcy.

The NYT report says that the Chapter 11 documents being prepared will allow for a Fiat and Chrysler alliance [...]

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Reports worldwide indicate that General Motors has commenced preparations to file for bankruptcy.

Bloomberg News says that company directors have not given up hope of finding a solution to GM’s financial troubles, and are still scouring GM operations for cost-cutting measures to relieve the pressure on the giant automaker’s bottom line. Bankruptcy, daily, appears increasingly likely however.

According [...]

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During an interview with US television show Political Capital With Al Hunt, US Treasury auto adviser Steve Rattner suggested that the talks between GM and its debt holders may need an official deadline to finally reach a resolution.

It now looks like that day may soon be at hand, reports GM Inside News, with the US [...]

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Despite GM’s best efforts to offload Saab and the Swedish carmaker doing its best just to keep its head above water, the two companies have agreed to cooperate on technology sharing in the future.

Saab has recently applied for bankruptcy protection after General Motors announced it would sell the Swedish brand, and the ailing American manufacturer [...]

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There is nothing new in the announcement from GM’s auditors that there is “substantial doubt” about the giant automaker’s viability as a company. Who didn’t know that?

In producing its report GM’s auditors Deloitte & Touche are only doing what auditors do: running a cold blood-less eye over the integrity and accuracy of the books, casting [...]

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With whispers of General Motors’ possible bankruptcy growing louder each day, auditors to the firm have released a report claiming there is “substantial doubt” surrounding the car maker’s ability to continue operations.

GM has struggled to generate cash flow in the worst automotive market for 27 years. Poor product planning, slow moving development of new models and [...]

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It appears that Saab will become the first of GM’s European subsidiaries to divorce itself from its beleagured parent. The Swedish automaker has filed for bankruptcy and is initiating procedures to re-establish itself as an independent company.

The announcement comes shortly after GM’s last-ditch failed bid to secure aid from the Swedish Government to prop up [...]

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