Chrysler: cash is up more than $1 billion from June Nov 6, 2009
(AP) -- Chrysler CEO Sergio Marchionne says the automaker is on firmer financial footing as it attempts to revive the company's sagging fortunes. Chrysler is announcing a new business plan at a daylong event Wednesday, including the introduction of three new Dodge cars by 2013 and new exteriors, interiors and engines on most of its current lineup ... Chrysler hopes the car will make it more competitive in midsize sedans, the largest segment of the U.S. car market. (Madison Daily Leader, SD)
US Auto Sales Grow; GM Increase 1st Since Jan. '08 Nov 6, 2009
However, Chrysler Group LLC continued to struggle, though its 30% drop wasn't as bad as much of 2009, while General Motors Co. reported a 4 ... Chrysler's total sales slipped 30% to 65,803 units, with total cars down 30% and total trucks falling 31 ... But Chrysler reported sales increased 6% from September. (SmartMoney)
Ode to the Hood Ornament Nov 6, 2009
Rather, the division of Chrysler simply slaps the word JEEP on every vehicle, the better to bolster its rugged image ... One thing you can say about (F) is that its badge has been incredibly consistent, unlike its fellow Detroit behemoths, General Motors and Chrysler. (Slate)
And for entertainer of the year Nov 6, 2009
The United Auto Workers helped to bankrupt Chrysler and GM and given a chance theyll do the same for Ford. The UAWs rank-and-file overwhelmingly rejected contract changes that would bring Fords labor costs in line with GM and Chrysler ... After doing its part to drive Chrysler and GM into the ground, the UAW was rewarded with a 55 percent stake in Chrysler and 17. (Atlanta Journal-Constitution -- Opinion)
Davis calls energy crisis over Nov 6, 2009
State of emergency, in effect since '01, revoked. Friday, November 14, 2003. (Yahoo News -- Utility Industry Deregulation)
Energy Dept. awards money for electric cars Nov 6, 2009
Chrysler: $70 million. General Motors: $30. (USA Today -- Autos)
Chrysler aims to pump life into struggling lineup Nov 6, 2009
- Chrysler hopes to make billions of dollars to repay government loans and revamp all of its cars and trucks with an ambitious plan that hinges on doubling sales in five years. The plan, which includes spending $23 billion to overhaul or replace all its Chrysler, Dodge, Jeep and Ram models by 2014, is realistic as demand improves over the next five years, says Sergio Marchionne, Chrysler's new CEO, who has turned around Italian automaker Fiat Group SpA. ... Marchionne made his remarks after a... (The Augusta Chronicle)
Can Fiat save Chrysler? Nov 5, 2009
Can Fiat save Chrysler ... Can Fiat save Chrysler ... MICHIGAN: Dainty signs sitting next to the espresso machines outside Chrysler's design dome reassured journalists and analysts that the elaborate food and beverages display came courtesy of the Fiat Group. (India Times)
A Bold Plan for Chrysler Nov 5, 2009
CEO Marchionne believes he can make $5 billion in operating profit in 2012 and double Chrysler's sales by 2014 ... who is also the CEO of Chrysler's controlling shareholder Fiat Group (), projected that will break even in 2010 and will make $5 billion in operating profit in 2012 ... He expects Chrysler to more than double its sales, from 1. (BusinessWeek)
Amid Tumbling Sales, Chrysler Looks to Future Nov 5, 2009
A Chrysler worker exits from the Chrysler Warren Truck Plant in Warren, Michigan ... Sergio Marchionne, the gifted executive who saved Italy's Fiat Group from a destructive meltdown earlier in the decade and then convinced the Obama Administration that he could revive the bankrupt Chrysler Group LLC, tried on Wednesday to dispel speculation that the struggling automaker was beyond help ... "We want Chrysler to become a strong public company," said Marchionne, who was dressed in his trademark... (Time.com)
Download Wednesday's presentations Nov 5, 2009
From powerful to capable to comfortable, Dodge, Jeep and Chrysler vehicles have you covered ... View all the highlights from the November 4th, 2009 Chrysler Group LLC Business Plan presentation ... See what Chrysler is doing with electric-vehicle technology (EV) for clean, efficient power. (Rockford Register Star)
Chrysler tries to breathe life into its lineup Nov 5, 2009
--- Chrysler plans to overhaul its cars with technology from its new Italian partner, Fiat SpA, and says it has the cash to pay for it, helped by the U.S. government and lower costs. CEO Sergio Marchionne, who also runs Fiat, began unveiling Chrysler's new five-year business plan Wednesday ... The plan includes new vehicles for the Chrysler, Jeep, Dodge and Ram brands, most based on Fiat's more efficient transmissions and small engines. (The Augusta Chronicle)
Fury at Opel deal failure Nov 5, 2009
Europe is ahead of the United States in this field, as evidenced by a tie-up between Fiat of Italy and US Chrysler. Analysts expect the crisis to lead to many new, but highly selective, alliances to share both technology for electric cars and the geographical reach of distribution networks. (iAfrica.com)
October a good month for auto sales in America Nov 5, 2009
Less rosy news came from Chrysler Group LLC, whose sales fell 30 percent, though they improved from September ... Ford has also benefited from consumer goodwill because it didn't take government bailout money or go into bankruptcy, as General Motors and Chrysler did ... Chrysler, the maker of the Chrysler, Dodge, Jeep and Ram truck brands sold 65,803 vehicles last month, up 6 percent from September. (Honolulu Advertiser)
Auto sales show industry beginning to stabilize Nov 5, 2009
"It's...a fairly stable kind of footing that the industry is getting under it," said Gary Dilts, a former Chrysler sales executive who is now senior vice president of global automotive operations for J.D. Power and Associates ... Less-rosy news came from Chrysler Group LLC, whose sales fell 30 percent, though they improved from September ... Ford has benefited from consumer goodwill because it didn't take government bailout money or go into bankruptcy protection, as General Motors and Chrysler... (Madison Daily Leader, SD)
Fiat model figures in Chryslers comeback plan Nov 5, 2009
New Dodge models part of Chryslers plans - Autos- msnbc ... New Dodge models part of Chryslers plans ... The back of a Fiat 500, foreground, is seen next to a Jeep Patriot Wednesday at the Chrysler Group LLC headquarters in Auburn Hills, Mich. (MSNBC -- Business)
Car fire extinguished in Watertown parking lot Nov 5, 2009
A fire had started in the engine compartment of a 2000 Chrysler Sebring. Firefighters extinguished the flames. (Watertown TAB & Press, MA)
Reborn Chrysler says it will be leaner, more competitive Nov 5, 2009
Sergio Marchionne, Chrysler Group LLC Chief Executive Officer and Fiat CEO arrives to address executives and the news media at the Chrysler Technical Center in Auburn Hills, Michigan. The new Chrysler has emerged from bankruptcy protection as a leaner, hipper and more competitive automaker, top executives said Wednesday as they presented a five-year plan aimed at achieving long-term profitability ... AUBURN HILLS, Michigan (AFP) - The new Chrysler has emerged from bankruptcy protection as a... (Yahoo! Asia News)
GM plans 10,000 job cuts at Opel Nov 5, 2009
US rival Chrysler made the same choice when it agreed to a takeover by the Italian group Fiat. But Germany pushed for Opel's sale to Magna and Sberbank, and on Wednesday, Economy Minister Rainer Bruederle slammed GM's turnaround as "totally unacceptable.". (Yahoo! Asia News)
New Chrysler Lays Out Five-Year Plan Nov 5, 2009
Chrysler hopes to make billions of dollars to repay government loans and revamp all of its cars and trucks with an ambitious plan that hinges on doubling sales in five years. The plan, which includes spending $23 billion to overhaul or replace all its Chrysler, Dodge, Jeep and Ram models by 2014, is realistic as demand improves over the next five years, says Sergio Marchionne, Chrysler's new CEO, who has turned around Italian automaker Fiat Group SpA. ... Marchionne made his remarks after a... (Fox News)
Chrysler to revamp Dodge with 4 new models Nov 5, 2009
Chrysler plans to revamp its struggling Dodge car brand under a new turnaround plan and says the company's cash has grown by nearly $2 billion since it exited bankruptcy protection in June ... The new models include a midsize sedan for the North American market designed by Fiat SpA, the Italian automaker that now owns 35 percent of Chrysler ... That sedan is a key component of Chrysler LLC's five-year overhaul, outlined here Wednesday. (San Francisco Chronicle -- Business)
Toyota reports surprise profit, outlook bumpy Nov 5, 2009
Struggling U.S. rival Ford Motor Co (F.N) also reported a quarterly profit this week, defying Wall Street estimates as it seized market share from General Motors Co (GM.UL) and Chrysler. But the yen's strength remains Toyota's Achilles heel as it exports more than half of its vehicles built in Japan. (Yahoo News -- Press Releases)
Chrysler: cash up more than $1B from June Nov 5, 2009
Chrysler CEO Sergio Marchionne says the automaker is on firmer financial footing as it attempts to revive the company's sagging fortunes. Chrysler is announcing a new business plan at a daylong event Wednesday, including the introduction of three new Dodge cars by 2013 and new exteriors, interiors and engines on most of its current lineup ... Chrysler hopes the car will make it more competitive in midsize sedans, the largest segment of the U.S. car market. (San Diego Union-Tribune)
Gas Guzzlers Reign in Cash for Clunkers Nov 5, 2009
What's in store for GM and Chrysler after automakers' restructuring plans are spiked. Stories. (CBS News)
Toyota surprises with Q2 profit Nov 5, 2009
Struggling US rival Ford Motor Co also reported a quarterly profit this week, defying Wall Street estimates as it seized market share from rivals General Motors Co and Chrysler as they emerged from bankruptcy. The stronger yen, which eats into profits made abroad, has dealt a double-blow because Toyota exports more than half of its vehicles built in Japan. (India Times)
Chrysler Aims to Pump Life Into Struggling Lineup Nov 5, 2009
Chrysler CEO hopes to double sales in 5 years; promises new or reworked cars and trucks ... Chrysler hopes to make billions of dollars to repay government loans and revamp all of its cars and trucks with an ambitious plan that hinges on doubling sales in five years ... Chrysler Group LLC CEO Sergio Marchionne arrives for a news briefing at the automaker's headquarters in Auburn Hills, Mich. (ABC News -- Wire)
US sales rise at both GM and Ford Nov 4, 2009
However, sales at Chrysler, the third of the so-called "Big Three" US carmakers were down 30 ... While GM helped lift sales in October through generous financing schemes, and Ford benefited from popular new models, analysts said Chrysler was handicapped by its older range of cars. (BBC News -- Americas)
GAO: Full recoup of government auto investment unlikely Nov 4, 2009
Treasury officials told the GAO that they are considering initial public offerings or private sales to dispose of the government's nearly 10% stake in Chrysler and 61% share of GM. But government officials won't say when that could happen because they don't want to undermine the potential return on the investment. Copyright 2009 The Associated Press. (USA Today -- Autos)
Gas guzzlers top sales Nov 4, 2009
Chrysler and Honda reported sales drops. Hyundai said its fuel-efficient Elantra sedan helped its sales leap by 49 percent in October compared to a year earlier. (The Clarion-Ledger)
A toast to bygone era of 'Ed Sullivan Show' Nov 4, 2009
It's true, the throwback styling of the Chrysler model would be at home in the 1940s or '50s - just like Nachman himself. Since he left the newspaper racket after 35 years - his final gig being as a Chronicle columnist and feature writer from 1979 to 1993 - Nachman has written three books about bygone eras in entertainment. (San Francisco Chronicle)
Auto sales flat overall, but some have big gains Nov 4, 2009
Chrysler Group, controlled and part-owned by Italy's , is to present a plan for survival and recovery today in a six-hour event for analysts and journalists. sales were up 4. (USA Today -- Money)
Repairs ahead for Chrysler: Fiat readies its plans for U.S. brand Nov 4, 2009
As Chrysler sits on blocks, what will Fiat do to fix it ... As Chrysler sits on blocks, what will Fiat do to fix it ... A Chrysler dealer in Los Angeles advertises low prices in October. (USA Today -- Money)
PHOTOS: Fiat puts stamp on Chrysler lineup Nov 4, 2009
New or redesigned vehicles usually sell better than older models, but some of Chrysler's freshest faces - which are among those expected to be axed by Fiat-controlled Chrysler - were slowing down even before the auto industry's mid-2008 collapse. Annual U.S. unit sales for models on the chopping block (numbers from Autodata):
2006: 138,650
2007: 99,585
2008: 50,910
" /> Photos 11/3/2009 lect> lect> Wheels Fiat puts stamp on Chrysler lineup Chrysler PT... (USA Today -- Money)
GM Posts 4.7% October Sales Increase Nov 4, 2009
Meanwhile, Chrysler Group LLC says its October sales fell 30 percent below the same month last year ... The maker of the Chrysler, Dodge, Jeep and Ram truck brands says it sold 65,803 vehicles last month, up 6 percent from September ... Chrysler, which is announcing a new product strategy on Wednesday, is aiming to show steady improvement from month to month as the U.S. economy starts to emerge from its yearlong slump. (Time.com)
GM, Ford Report Sales Gains; Chrysler Sales Drop Nov 4, 2009
GM's news comes after Ford Motor Co. reported a 3 percent increase over October of last year, while Chrysler said its sales dropped 30 percent from October 2008. Automakers are hoping that October sales are a sign that the U.S. economy is starting to improve from the worst market in more than a quarter century. (KWTX.com, TX)
China electrifies urban transit Nov 4, 2009
Zhengzhou Yutong Bus is one of the world's top producers of transit buses, after only Daimler Chrysler, South Korea's Hyundai, India's Tata, Fiat of Italy, and Brazil-based Marco Polo. By next year, China will likely account for one-third of global autobuses sales and is expected to become the dominant global exporter. (Asia Times Online)
GMs Opel Sale Crashes Nov 4, 2009
Or this could be a pre-emptive strike aimed at Sergio Marchionne and Chrysler, and their bring-the-small-Euro-car-to-America-plans, scheduled to be be revealed ... Of course, given than the government owns almost 10 percent of Chrysler, youd think thered be orchestration of such events. (Slate)
And the Winner Is... Nov 4, 2009
Ford -- the only major automaker not owned by the government -- announced record profits while the Obama former car czar announced that $25 billion loaned to GM was lost, as was at least the first $4 billion loaned to Chrysler. And that came on the same day that Senate Majority Leader Harry Reid (D-Nev. (Human Events Online)
Customers are faced with unpaid trade-ins Nov 4, 2009
In July, Patrick Beck, 44, got the bad news that Chrysler Financial Corp. was shutting down his dealership in Nogales after 11 years ... Valenzuelas predicament stemmed from a trade-in transaction between herself and Pat Beck Dodge, Chrysler and Jeep ... In an e-mail, Beck said, I am working closely with Chrysler Financial in an effort to solve these few issues. (Nogales International, AZ)
Taxpayers could lose billions in auto bailouts Nov 4, 2009
WASHINGTON Taxpayers are unlikely to recover their full investment in General Motors or Chrysler, government investigators said yesterday in the latest review to cast doubts that the government will recoup the $80 billion it poured into the two automakers. The Government Accountability Office concluded that General Motors Co. and Chrysler Group LLC likely won't be valuable enough for the Treasury Department to break even on its investment in the two auto companies that went though bankruptcy... (Honolulu Advertiser)
Lifting hopes of a recovery, auto sales rise Nov 4, 2009
Less-rosy news came from Chrysler, whose sales, though improved from September, fell 30 percent. Ford s sales got a boost from new-product launches and gained US market share for the 12th time in 13 months with critically acclaimed vehicles. (Boston Globe)
Energy Dept. awards money for electric cars Nov 4, 2009
Chrysler: $70 million. General Motors: $30. (USA Today)
October sales improve but remain tepid Nov 4, 2009
"It's ... a fairly stable kind of footing that the industry is getting under it," said Gary Dilts, a former Chrysler sales executive who is now senior vice president of global automotive operations for J.D. Power and Associates. A look at economic developments around the globe. (Fresno Bee -- Business)
Auto sector beginning to stabilize Nov 4, 2009
Less rosy news came from Chrysler Group LLC, whose sales fell 30 percent, though they improved from September. GM DECIDES TO KEEP EUROPEAN OPEL UNIT. (The Augusta Chronicle)
GM, Ford report sales increase in United States Nov 4, 2009
CHICIAGO, Oct. 3 (Xinhua) -- U.S. automaker General Motors Co. and Ford Motor Co. reported Tuesday a sales increase in October, but another U.S. automaker Chrysler Group LLC saw a significant decline ... Meanwhile, Chrysler says its October sales fell 30 percent below the same month last year. (Xinhuanet, China)
Bernanke's Housing Gamble May Bring Pressure From Congress to Keep Fed Aid Nov 3, 2009
Last December, when legislators were considering bailouts for and Chrysler LLC, Dodd asked Bernanke in a letter whether there is anything in your statute that prevents you from lending to any of these domestic auto- manufacturing companies. . (Bloomberg -- US)
Unpacking Fords Profits Nov 3, 2009
Quarterly results and market share (Fords is increasing) are useful for gauging the progress of performance in the auto sector, but as weve learned from the GM and Chrysler bankruptcies, debt management is far more important. For Ford, all that really matters over the next two years is how CEO Alan Mulallys big borrowing gamble of 06 plays out. (Slate)
Ford reports $1B 3Q profit, forecasts faster turnaround Nov 3, 2009
But Ford still faces hurdles, including the UAW's rejection in voting that ended Sunday of contract changes that could have put Ford's costs on par with UAW deals with GM and Chrysler. The global auto industry also remains a mess: Even as the U.S. is picking up, European sales could fall as cash-for-clunkers-type programs there end. (USA Today -- Autos)
Drive on: Ford profit report provides glint of optimism in downtrodden auto industry Nov 3, 2009
Everything just seems to be going right for Ford, and for that matter, CEO Alan Mulally, above, with the Fusion (except for the inexplicable UAW, which just rejected a deal to put Ford on par in labor costs with GM and Chrysler) ... Consumers are likely to remain wary of GM and Chrysler until they are solidly reestablished, and Ford will benefit. (USA Today -- Money)
Ford Profits Nov 3, 2009
While heavy debt and lean times for American car shoppers threaten the comeback, the report puts Ford in a far better position than General Motors or Chrysler, which are still finding their bearings after emerging from bankruptcy ... GM and Chrysler, meanwhile, are still trying to cut jobs and win back customers, many of whom are steering toward their healthier rival ... "GM and Chrysler still have quite a bit of restructuring to do and simply don't have the product competitiveness across their... (ABC News -- Business)
Stanley sees cost savings in Black & Decker deal Nov 3, 2009
Former task force head bullish on GM, Chrysler. The former head of the Obama administration's auto task force expressed optimism Wednesday that General Motors and Chrysler could rebound and help taxpayers recoup some of their multibillion-dollar investment in the Detroit auto companies ... Steven Rattner, in a speech sponsored by the Brookings Institution, said his auto team was stunned by the dire straits of GM and Chrysler when they delved into the companies' financial books but remained... (Fresno Bee -- Nation)
Agents Seize More Than 300 Lbs. Of Sea Cucumbers Nov 3, 2009
CBP officers found the undeclared sea cucumbers during an inspection of a Chrysler Voyager carrying two Mexican citizens and two Chinese citizens around 1:30 p.m. Sunday, said Jackie Dizdul of the San Diego office of U.S. Customs and Border Protection. The sea cucumbers were hidden in the luggage of the two Chinese citizens, a 51-year-old man and his 24-year-old son, she said. (TheSanDiegoChannel.com, CA)
Full recovery of auto investment unlikely Nov 3, 2009
WASHINGTON - Taxpayers are unlikely to recover their full investment in or Chrysler, government investigators said yesterday in the latest review to cast doubts that the government will recoup the $80 billion it poured into the two automakers. The Government Accountability Office concluded that General Motors Co. and Chrysler Group LLC likely won t be valuable enough for the Treasury Department to break even on its investment in the two auto companies that went though bankruptcy earlier this... (Boston Globe)
Ford Posts Surprise Profit Nov 3, 2009
The quarterly results provided more evidence that Ford has distanced itself from U.S. rivals General Motors Co and Chrysler, which have struggled to complete restructurings after emerging from government-funded bankruptcies earlier in 2009. Ford seized North American market share from GM and Chrysler when they halted most production to prepare and execute their bankruptcy cases. (ABC News -- Wire)
Ford posts $1 billion profit Nov 3, 2009
Last week, workers overwhelmingly rejected an agreement with the United Auto Workers that would have brought Ford's labor costs in line with rivals General Motors Corp. and Chrysler LLC. Workers objected to clauses limiting their right to strike and freezing entry-level wages, and felt the company was healthy enough and didn't need further concessions ... Ford also has benefited from consumer goodwill after it declined government bailout money and didn't go into bankruptcy over the summer as GM... (The News-Press -- Business)
Atlanta cop's Decatur car museum Nov 3, 2009
A blue and white 1950 Chevrolet Styleline Deluxe, a powder blue 1965 Mercury Monterey, a 1968 Atlanta police car, and a yellow 2002 Chrysler Prowler are among the rides on display. A gold 1974 Bricklin SV-1, one of fewer than 3,000 made, easily reels in attention, its gull-wing doors opened in full mast. (Atlanta Journal-Constitution -- Business)
Ford turns a profit during third quarter Nov 3, 2009
While heavy debt and lean times for American car shoppers threatened the comeback, the report puts Ford in a far better position than General Motors or Chrysler, which still are finding their bearings after emerging from bankruptcy ... GM and Chrysler, meanwhile, are still trying to cut jobs and win back customers, many of whom are steering toward their healthier rival. (Athens Banner-Herald)
Carmakers see stability, uncertainty Nov 3, 2009
Ford is the only large US automaker to avoid bankruptcy in 2009, but it posted losses totaling $30 billion from 2006 through 2008 and remains saddled with a much heavier debt load than GM or Chrysler. The UAW also is trying to convince Italian automaker Fiat SpA to reverse plans to close Chrysler plants scrapped in the US automaker's bankruptcy ... Fiat, which assumed control of Chrysler when it emerged from bankruptcy in June, is due to announce a new five-year strategic plan for the ailing... (India Times)
Geithner: GDP growth proves economy is recovering, but is 'just the beginning' Nov 2, 2009
Monday, November 02, 2009. Geithner: GDP growth proves economy is recovering, but is 'just the beginning. (TheHill.com)
Ford workers reject contract changes Nov 2, 2009
Ford sought the deal to bring its labor costs in line with Detroit rivals Chrysler Group LLC and General Motors Co., both of which won concessions from the union as they headed into bankruptcy protection earlier this year ... The union did a poor job of explaining the need to preserve jobs and keep Ford competitive with GM and Chrysler, the official said ... He also said Ford lacked credibility because its financial situation wasn't as dire as GM's or Chrysler's. (MSNBC -- Business)
Ford Suffers UAW Setback, Canadian Workers OK Cuts Nov 2, 2009
A UAW vote in the United States has dragged on for two weeks to steadily building opposition from rank-and-file workers who have objected to giving Ford the same concessions already granted to rivals General Motors Co and Chrysler as part of their government-financed bankruptcies. An official tally was not yet available on Sunday, but UAW members voted against the concessionary deal at most of Ford's U.S. assembly plants leaving no doubt about the outcome. (ABC News -- Wire)
Meltdown 101: Ford Has Suffered Less Than Rivals Nov 2, 2009
Ford Motor Co. has been riding a wave of positive public sentiment since it steered clear of bankruptcy protection and avoided taking federal bailout money unlike its crosstown rivals, General Motors Co. and Chrysler LLC. ... Q: How did Ford escape bankruptcy protection and federal aid, unlike GM and Chrysler. (ABC News -- Wire)
Southwest Montana Snapshot Nov 2, 2009
I know that if Obama had let GM and Chrysler fall into bankruptcy, the whole auto industry in the U.S. would have failed (including Toyota, Nissan, Honda, etc. as the part supplier companies would have also failed. (Montana Standard, MT)
Ford's Canadian workers agree to cost-cutting Nov 2, 2009
Ford Motor Co. has been riding a wave of positive public sentiment since it steered clear of bankruptcy protection and avoided taking federal bailout money - unlike its crosstown rivals, General Motors Co. and Chrysler LLC.. Worldwide market share is up. (Fresno Bee -- Business)
Workers soundly reject Ford labor savings Nov 1, 2009
Ford sought the deal to bring its labor costs in line with Detroit rivals Chrysler Group LLC and General Motors Co., both of which won concessions from the union as they headed into bankruptcy protection earlier this year. Under pattern bargaining, the three automakers usually match pay, benefits and other contract provisions. (The Augusta Chronicle)
