January 2, 2010 |
Even as Detroit automakers move their focus away from pickups to small, fuel-efficient cars, full-size trucks still make up more than 20% of sales by Detroit automakers and could play a key role in helping the companies recover in 2010. Foreign automakers, despite efforts with models such as the Toyota Tundra and the Nissan Titan, have not been successful in stealing profitable pickup market share from the Detroit Three. Through November, Detroit automakers sold 91% of all full-size pickups.
December 3, 2009
General Motor Co.'s vice chairman, Bob Lutz, came to the Los Angeles Auto Show primed to talk about the company's Chevy Volt, its electric vehicle rolling out next year. But the only thing anyone wanted to talk about Wednesday was this week's surprise resignation of Chief Executive Fritz Henderson. Though Lutz gamely tried to dodge questions about the leadership vacuum, by day's end he had broken down a bit, revealing that the next person to take the job would probably be a outsider.
August 1, 2009 |
As the unemployment rate topped 25% and General Motors planned to cut more jobs in this long-struggling auto town, voters decided to focus their anger on one person: Mayor Donald J. Williamson. More than 17,000 residents signed a petition demanding his recall, citing waste, corruption, mismanagement and sundry other complaints. Williamson resigned 10 days before the vote. "He made people so mad," said Eric Mays, a retired GM worker who led an earlier effort to recall Williamson that failed.
June 2, 2009 |
General Motors Corp.'s historic bankruptcy promises to turn more than $50 billion from taxpayers into a fresh start, allowing the struggling giant to again become an engine for the U.S. economy. Freed from its most crushing financial obligations, GM hopes to rediscover profit in the century-old profession of building and selling autos.
May 29, 2009 |
By offering a sweetened deal Thursday to holders of $27 billion of its bonds, General Motors Corp. and the Obama administration are trying to follow Chrysler's path to a quick exit from bankruptcy. As GM rolls toward an expected Chapter 11 filing by Monday, a new, leaner and hopefully profitable Chrysler is preparing to emerge from its own court-supervised restructuring.
May 23, 2009 |
General Motors Corp. said Friday that it had borrowed an additional $4 billion from the Treasury Department, meaning the automaker has now accepted $19.4 billion in loans from the U.S. government. GM started taking government money in December and said it intended to borrow $2.6 billion more by June 1 and an additional $9 billion after that. But in a regulatory filing Friday, GM said it needed $1.4 billion sooner than originally forecast.