Momentum is building in Washington to aid wounded U.S. automakers with cash to help their finance arms and possibly even help seal a deal for GM to acquire Chrysler.
Japan's second-biggest automaker said Tuesday it would cut vehicle production by 10 percent in Britain due to faltering demand in Europe.
Canada's auto-parts makers need up to $1 billion in immediate short-term loans to help them survive during the liquidity crisis, says an industry report.
Ontario is keeping a close watch on an apparent request by General Motors for a $10-billion rescue package from the U.S. government to aid in its purchase of Chrysler.
Plug-in electric vehicles from GM and Toyota are not expected to hit showrooms for more than a year, but the first buyers will be eligible for a tax credit that could reach $7,500.
Japanese automaker's global sales in the July-September quarter were down 4 percent, falling for the first time in seven years, due to faltering demand in the U.S.
Automaker will temporarily close its Detroit-Hamtramck plant and a facility in Bowling Green, Ky., in the coming months to keep inventory in line with lower demand.
Swedish bearings maker said Monday it plans transfer production from its Elgin, Ill., facility to other factories in Mexico and the U.S. to remain competitive in the U.S. automotive market.
Global vehicle production by Toyota and Nissan declined in September due to a prolonged slump in the U.S. auto market amid growing recession fears.
Japan’s top automaker said Monday it would invest $586 million in a new factory in China to produce 100,000 units of a popular Corolla model per year.
Volkswagen's biggest shareholder said on Sunday that it had lifted its stake to 42.6 percent and plans to increase it to 75 percent by 2009.
Automaker says it will extend the temporary shutdown of its Wilmington, Del., assembly plant for three more weeks because of slow demand for the vehicles it makes.
General Motors was the biggest percent loser on the Dow Jones industrials index as the broader market headed lower and talks continued between it and crosstown rival Chrysler.
Carmakers in Europe are taking a beating from the financial crisis, announcing an alarming series of profit warnings and production stoppages this week.
As the shaky U.S. economy speeds the industry’s out-of-control slide, more job cuts are likely if U.S. auto sales volume continues to decline into 2009.
Chief Executive said the company is reacting to the 'collapse' of the European auto market by cutting production to prevent a buildup of inventories.
Volkswagen said sales rose 3.9 percent through September as a slowdown in new car buying in western Europe was offset by gains in China, Brazil and eastern Europe.
Scion brand tops the list of most reliable cars in Consumer Reports' annual vehicle reliability study, as Asian automakers continue to fill the magazine's top rankings.
Michigan lawmakers intend to urge Federal Reserve Chairman and Treasury Secretary to use their regulatory powers to loosen up credit to help finance car loans.
Bankruptcy judge says Delphi Corp. can have more time to file and make changes to its plan to emerge from bankruptcy protection without the input of its creditors.
Automaker will cut one shift at a Toledo, Ohio, Jeep plant and moves up the closure of its SUV factory in Newark, Del., to the end of this year.
Automaker said it will suspend several benefit programs for salaried workers as of Nov. 1 as it seeks to cut costs in the difficult auto market.
Sweden's Volvo AB says it plans to slash 850 more jobs at its construction equipment unit and has given notice to 1,400 workers at truck plants in Belgium and Sweden.
Reports that Chrysler is being shopped for sale by its owners are just speculation, Vice Chairman and President Jim Press said Wednesday night.
German automaker reported profit of $273.5 million, reversing a year-ago loss, but reported a fall in North American sales and abandoned its 2008 earnings forecast.