GMAC gets Fed's OK to become bank holding company
WASHINGTON December 24, 2008; Emily Kaiser writing for Reuters reported that GMAC LLC won U.S. approval on Wednesday to become a bank holding company, giving it access to government lending programs and helping it stave off bankruptcy. The Federal Reserve's approval should allow GMAC to continue financing loans for Gen ... Continue reading
GMAC Gets Fed's OK To Become Bank Holding Company
WASHINGTON December 24, 2008 According to Automotive News, GMAC LCC won Federal Reserve approval today to become a bank holding company, giving it access to government lending programs, after owners General Motors and Cerberus agreed to cut their stakes. GM agreed to reduce its 49 percent stake in GMAC to no more than ... Continue reading
Ford Triples Support of Breast Cancer Research and Awareness with $1.8 Million Raised in 2008
Ford's 2008 Warriors in Pink campaign generated more than $1.8 million in donations for Susan G. Komen for the Cure, nearly tripling last yearâs efforts * Donations help fund important research and community outreach programs aimed at saving lives and ending breast cancer forever * Fordâs Warriors in Pink cam ... Continue reading
2009 Land Rover LR2 HSE Review
2009 LAND ROVER LR2 HSE By Steve Purdy TheAutoChannel.com Detroit Bureau This is not your fatherâs Land Rover. This isnât the rough and tumble off-roader made for banging through the wilds of Africa that you could fix with duct tape, wire and a good sturdy hammer. Instead, this is a sophisticated, 5-passenger ... Continue reading
LOS ANGELES and VARESE, Italy, December 24, 2008: Cobra Automotive Technologies and Mobileye Vision Technologies announced today a distribution agreement whereby the two companies will collaborate in selling the Mobileye Advance Warning System (AWS) throughout Europe to passenger cars, light commercial vehicles (up to ... Continue reading
Lionax Launches a Unique New Product, "SecuNavi" by Integrating GPS and TPMS Functions
PARIS, December 24 -- Lionax, the first Chinese company listed on Euronext, announced today that it has recently delivered a unique new product, "SecuNavi", by integrating GPS and Tire Pressure Monitoring System (TPMS). Lionax launched this new product at the U.S. AAPEX Show in Las Vegas on November 1st, 2008. This pat ... Continue reading
Navistar to Restate Results for the First Nine Months of Fiscal 2008
WARRENVILLE, Ill.--Navistar International Corporation announced today that it will restate its financial results for the nine months ended July 31, 2008. As a result, the company expects to increase reported net income by $50 million to $70 million ($0.68 to $0.95 per diluted share) for the nine months ended July 31, 2 ... Continue reading
China's Heavy Truck Market To Recover In Q2 '09
China's heavy truck market to recover in Q2 '09 http://www.gasgoo.com/auto-news/1008830/China-s-heavy-truck-market-to-r ecove r-in-Q2-09.html Shanghai, December 24 (Gasgoo.com) Chinese market demands of heavy-duty trucks will slow down next year overall, but with the government¡¯s macro-economic control policy put in ... Continue reading
Beijing Hyundai Delays '09 Output, Sales Planning
Beijing Hyundai delays '09 output, sales planning http://www.gasgoo.com/auto-news/1008836/Beijing-Hyundai-delays-09-outpu t-sal es-planning.html Shanghai, December 24 (Gasgoo.com) Beijing Hyundai said it has to delay its planning of 2009 output and sales to the beginning of next year because the economic crisis has now ... Continue reading
Japan Automakers November 2009 Output and Exports
TOKYO, Dec 24, 2008; Reuters reported that Japan's largest automaker, Toyota Motor Corp, said on Wednesday its global output fell 27 percent in November from a year earlier to 589,505 vehicles. The following are figures for domestic output, exports, overseas and global output of vehicles at Japan's eight carmakers for ... Continue reading
SUGAR LAND, TX Dec 24, 2008; Researched by Industrial Info Resources (Sugar Land, Texas) -- In recent months, the American automakers faced intense scrutiny as they begged Congress and the Bush administration for billions of taxpayer dollars to save themselves from, essentially, themselves. While they did eventually re ... Continue reading
GM to achieve China sales of 1 mln cars in '09
GM to achieve China sales of 1 mln cars in '09 http://www.gasgoo.com/auto-news/1008833/GM-to-achieve-China-sales-of-1- mln-c ars-in-09.html Shanghai, December 24 (Gasgoo.com) GM Asia Pacific president Nick Reilly said yesterday that he foresees GM sales in China will plateau or increase slightly, and the U.S. automaker ... Continue reading
Chrysler's Nardelli: Turnaround Plan is Achievable
DETROIT December 23, 2008; Soyoung Kim writinfg for Reuters reported that Chrysler LLC's plan to return to profitability is "reasonable and achievable", Chief Executive Bob Nardelli told the company's employees in a memo. Chrysler, which won a $4 billion federal rescue package last week, will continue to work with all ... Continue reading
Jonas Brothers to Play Special Concert at 2009 Detroit Auto Show to Support the 2009 Charity Preview
All proceeds from the concert to benefit local area children's charities and organizations DETROIT, Dec. 23, 2008; The North American International Auto Show (NAIAS) announced today the Grammy nominated artist, Jonas Brothers, will play a special concert at Detroit's Joe Louis Arena on January 18, 2009 to help raise fu ... Continue reading
Edmunds.com Looks Back at 2008 and Forecasts 2009 Automotive Trends
Tuesday December 23, 2008, 1:19 pm EST Yahoo! Buzz Print SANTA MONICA, Calif.--For the automotive industry, 2008 will be a year to forget. Due to the collapse of the financial industry, car sales plummeted to levels not seen since the early 1990s, when the countryâs population was 50 million people fewer. Edmunds. ... Continue reading
Toyota Announces U.S. Executive Appointment
TORRANCE, Calif., Dec. 23, 2008; Toyota today announced the promotion of Robert C. Daly from group vice president to senior vice president at Toyota Motor Sales, U.S.A., Inc. (TMS), the U.S. sales, marketing and distribution arm, effective January 1, 2009. Daly, 58, will replace Dave Illingworth, chief planning and adm ... Continue reading
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