While GM has been operating on borrowed funds in recent times, there has been an extensive effort by the company to reduce costs and stem the financial bleeding.

GM’s renewed focus is starting to pay dividends, with GM CFO Ray Young announcing that the carmaker will not require the USD $2 billion in Federal loans it was [...]

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In a breakthrough for the United States’ struggling carmakers, Ford has struck a deal with the United Auto Workers union that will save the company millions of dollars in payroll and health care obligations.

Following a record loss of USD$14.6 billion in 2008, and with car and truck sales down 48.5 percent in February, the deal [...]

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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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Recent speculation about a collaboration between Chrysler and Fiat has been confirmed. The two companies have announced plans for a global strategic alliance. Under the deal Fiat will receive a 35 percent stake in Chrysler. In return Chrysler will gain access to Fiat’s range of fuel efficient technologies.

The ability to use Fiat’s existing technology should equate [...]

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The rumour-mill is working overtime in the automotive kingdom at the moment. Of the ‘Big Three’ American manunfacturers Chrysler is often speculated as being in the worst shape, so Vice Chairman and President Tom LaSorda has stepped forward to clarify the company’s position.

Despite suggestions that the Jeep brand is likely to be sold off separately, [...]

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General Motors has officially announced their plans to keep operations afloat in North America. After much speculation about the future direction of the company and its brands GM’s North American president, Troy Clarke, has said in an interview with Automotive News that General Motors will be keeping its promise to congress to drastically cut costs.

Clarke [...]

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Both General Motors and Chrysler have now taken the first instalments of the USD$17.4 billion bridge loans made available by the US Government. Each manufacturer has now received $4 billion to keep the doors open while they prepare themselves for the uphill battle to return to profitability.

By February 17th, GM and Chrysler are required to [...]

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