The folks in Detroit aren’t the only ones in trouble, as Europe’s car industry is also feeling the global economic pinch in a big way. PSA Peugeot Citroen recently accepted a €3 billion loan from the French government, and now Jaguar Land Rover is about to receive its first cash injection.

The European Investment Bank is [...]

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GM has just outlined its plan for the immediate future to the US Congress in an effort to secure billions in US taxpayer-funded bridge loans to stave off bankruptcy. The proposed measures include selling Saab and Hummer, shedding up to 25,000 jobs and closing 1750 dealerships.

The clincher is that GM has raised the total it [...]

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