Clock ticks on toward GM bankruptcy filing

Clock ticks on toward GM bankruptcy filing

GM was making final preparations Sunday for its bankruptcy protection announcement after bondholders accepted a sweetened deal, smoothing the way for a reorganization.

Opel ‘will be brand name to attract Russian buyers’
Vauxhall cars in Britain will be rebranded under the Opel name in an effort to appeal to the Russian car market, according to the former managing director of Rover.

GM was once ‘Heartbeat of America’

GM was once ‘Heartbeat of America’

The GM that helped move the world from horses to Chevys and Cadillacs is expected to file for bankruptcy protection Monday and will likely emerge a shadow of its former self.

Richard Hammond on origins of caravanning
A long time ago, before Boeing invented the 747 jumbo jet, goods had to be transported on the backs of donkeys. And when you have people moving cargo around you have people called robbers who like pinching stuff. Very annoying when you’ve walked for several hundred miles across a desert with heavy bags of spices strapped to your donkey and some bloke with a sword and an Errol Flynn moustache nicks it off you.

Mazda6: Lowborn car sure cleans up nicely

Mazda6: Lowborn car sure cleans up nicely
The Grand Touring package gives it the luxury of a Lexus without the snotty attitude. I was born into desperate peonage in eastern North Carolina, and then things went downhill. My parents assembled our house out of twigs, leaves and dryer lint.

Chrysler awaits ruling as GM bankruptcy looms
Chrysler LLC could be hours away from a ruling on its plan to sell most of the company to a group led by Italy's Fiat, a big step toward its goal of a speedy exit from bankruptcy protection.

Despite deal, bankruptcy for GM is ‘probable’

A brief history of General Motors Corp.
Some key events in General Motors' history:

Despite deal, bankruptcy for GM is ‘probable’
The government’s new road map for General Motors would briefly send it into bankruptcy, erase most of its debt and eventually have it emerge leaner and stronger.

Chrysler in court for key bankruptcy hearing

GM says offer to exchange equity for bondholders' debt has failed
The deal was less generous than terms given to the government and the UAW. A bankruptcy filing within a week is nearly certain. General Motors Corp. announced today that its offer to bondholders to exchange their debt for equity in the company had ended with "substantially less" participation than required by the Obama administration, likely guaranteeing a bankruptcy filing for the legendary automaker within the next week.

Chrysler in court for key bankruptcy hearing
The future of Chrysler hung in the balance as it made its case in bankruptcy court to sell the bulk of its assets to a group headed by Italy's Fiat in hopes of saving itself from liquidation.

GM unlikely to strike crucial deal with bondholders

GM unlikely to strike crucial deal with bondholders
Holders of $27 billion in bonds have until the end of the day to swap at least $24 billion for a 10% share in GM, and all indications are that the vast majority of them are unwilling to accept the deal. With just hours remaining before a key deadline, General Motors Corp. seems unlikely to succeed in striking deals to cut 90% of its debt, which it must do to avoid bankruptcy.

UAW trust to get large chunk of GM shares

GM will give UAW 17.5 percent of its common stock, $6.5 billion of preferred shares and a $2.5 billion note to fund a trust that will take over retiree health care costs starting next year.

Volvo XC60: A svelte safety machine that can push its weight around

Volvo XC60: A svelte safety machine that can push its weight around
The compact SUV includes the company's active collision prevention systems. The automaker's goal and U.S. fuel economy objectives will spur a radical redefinition of tech-aided safety. Sweden is a beautiful, amazing country -- between 2 and 4 p.m. on July 2. Otherwise, it's dark, cold, wet and deeply forlorn, a place of Norse hardship-as-honor, like the landscape of some old Led Zeppelin song.

Workers OK cost-cutting deal with GM Canada
Canadian Auto Workers members voted 86 percent in favor of a cost-cutting deal with General Motors Canada as the automaker bids to qualify for more government loans.
Car Shrink
Q I need some super-cheap transport but don’t live in a city where they have pay-as-you-go hire such as streetcar.co.uk and my journey is too far to bike. Any suggestions?

Why red is the colour of sporting champions
Is it just a coincidence that English football’s three most successful teams â€" Liverpool, Manchester United and Arsenal â€" all play in red, or does the colour really boost performance and rattle the opposition? And what are we to make of the fact that England were playing in red, instead of the usual white, when they achieved World Cup glory in 1966?

GM gets another $4 billion from government

GM gets another $4 billion from government
GM said Friday that it has 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.
Computer-based phone services tested
Best for: range of services

GM-UAW deal may not stave off bankruptcy

The United Auto Workers struck a deal with General Motors and the federal government Thursday to cut labor costs, close factories and change the way retiree health care is funded.

Chrysler says sales are OK despite bankruptcy

Chrysler to get a brand-new Bob, replacing chairman Nardelli with Kidder
Chrysler may not yet be out of bankruptcy, but it already has a new boss lined up.

Chrysler says sales are OK despite bankruptcy
Chrysler LLC’s Chapter 11 filing so far doesn’t appear to be affecting May sales, a top executive said Wednesday.

Automakers back Obama rule to raise mpg

Determined to reduce vehicle carbon emissions by 30 percent, President Barack Obama on Tuesday announced a requirement for much more fuel efficient cars.

U.S. to require new cars get 42 mpg

U.S. to require new cars get 42 mpg

New cars and trucks will have to get 30 percent better mileage starting in 2016 under an Obama administration move to curb emissions, sources said Monday.

Car dealers fear government scrappage scheme will lose them money
Buyers might be queueing up to trade their old cars for new, but dealers fear that they are going to end up out of pocket.

Chrysler dealers shift into ‘everything must go’

At Chrysler lots across America sit 44,000 potential bargains, cars and trucks that are stuck between shellshocked dealers and a troubled company that no longer wants their services.

General Motors moves to shed 1,100 dealers

General Motors moves to shed 1,100 dealers
GM takes action in a restructuring plan that would shrink its distribution network from 6,000 to 3,600 by the end of 2010. The company is trying to avoid bankruptcy. The painful reshaping of the American auto industry hit home this week, delivered overnight by FedEx and UPS.

Motor mouth: Fusion is a way to the future
I think the British government’s proposal to offer an incentive of up to £5,000 for motorists to buy electric cars is a fantastic idea because you’re not punishing people who own petrol cars; you’re just enticing them to buy electric. We have a similar thing here in California, where you get a rebate if you buy an electric vehicle.

GM sheds 1,100 dealers

GM sheds 1,100 dealers
The move is the troubled automaker's first step in a restructuring plan that would shrink its distribution network from 6,000 to 3,600 by the end of 2010. The company is trying to avoid bankruptcy. General Motors Corp. notified 1,100 of its dealers that it would not renew their franchise contracts today, effectively pushing out nearly 20% of its distribution network.

Despite downturn, these cars are still selling

The Audi S5 coupe packs a 354-horsepower V8 engine, a taut sport suspension and three customized drive modes into one sleek ride.

Maruti launches Ritz; priced at Rs 3.90-4.99 lakh
The country's largest car maker, Maruti Suzuki India, today launched its latest small car Ritz in both petrol and diesel variants, offered at an introductory price of Rs 3.90-4.99 lakh.

Chrysler aims to close 789 dealerships

Chrysler to dump a quarter of its dealers, 32 in California
Bankruptcy allows the automaker to end contracts with 789 of its nearly 3,200 dealerships, threatening tens of thousands of jobs. GM is expected to drop the ax on 1,200 franchises Friday. Chrysler will eliminate 789 dealers -- a quarter of its U.S. outlets -- using the bankruptcy process to break their contracts and put them out of business by June 9.

Chrysler aims to close 789 dealerships

Chrysler has told a bankruptcy court it plans to eliminate 789 of its dealers â€" or about 25 percent of them â€" across the country as part of its restructuring process.

'Cash for clunkers' bill hits speed bump
Legislation that would give car buyers a government voucher up to $4,500 when they trade in gas guzzlers hit a speed bump in the Senate.
Bajaj Auto surges over 7% on new bike plan
The stock touched a high of Rs 739 and finally closed up 7.4% at Rs 738. The counter witnessed comparatively heavy trading volumes of 331,103 shares as against the two-week daily traded average of 52,099 shares.

Auto dealers fighting against closures

Thousands of auto dealers threatened with closure are mobilizing, and they look like they’re girding for a prolonged fight with Chrysler and General Motors.

World's carmakers racing to form alliances

World's carmakers racing to form alliances
Woes facing General Motors and Chrysler have spurred deals among others as they work to survive the sales slump. The breakdown of two of Detroit's Big Three is bringing a new urgency to the scramble among the world's automakers to forge alliances with former rivals, carve inroads into new markets and shop for well-known brands.

GM CEO says bankruptcy more probable

Bankruptcy protection for the nation’s biggest automaker is becoming more probable with a deadline just over two weeks away, the company’s top executive told reporters Monday.

Video: Video: Test-drive the Tesla Roadster

Video: Video: Test-drive the Tesla Roadster

This sports car packs its explosive power in batteries behind the seats. Will it revolutionize the car industry? Dateline takes a road trip to find out. (Dateline NBC)

Taxis and buses face automatic speed limiting
Thousands of taxis, buses and council vehicles could be fitted with devices that prevent them from exceeding the speed limit.

Triumph celebrates a coincidental 50th with new Bonneville SE

Triumph celebrates a coincidental 50th with new Bonneville SE
Triumph's newest version of the famed Bonneville is like a single-malt Scotch from the islands: It's lost much of its edge with time.

Hypermiling: it's the green way of driving
Think motor sports are all about high-speed, ear-splitting revs and the smell of burning rubber? Then think again. Wayne Gerdes is pioneering a different kind of motor racing that involves driving very slowly and carefully for thousands of miles. And his latest “race” has resulted in what he claims to be a new world record.

Auto suppliers urge lawmakers to protect base

Can a bankrupt Chrysler sell a "bright future?"

Auto suppliers urge lawmakers to protect base
Auto suppliers said Friday they are in crisis and may be forced out of business by temporary factory shutdowns at General Motors  and Chrysler.

Congress nears agreement on 'Cash for Clunkers' program

Congress nears agreement on 'Cash for Clunkers' program
It appears Congress is close to reaching final terms on a "Cash for Clunkers" program, a stimulus effort that would give consumers up to $4,500 to purchase a new car.

GM posts $6 billion loss for first quarter

GM lost $6 billion in the first quarter and its revenue was cut nearly in half as car buyers feared the wounded auto giant would enter bankruptcy and no longer honor its warranties.

Speed camera boss Tom Riall banned for driving over 100mph

Chrysler lenders group reveals identities
Group that balked at the sale of Chrysler has shrunk to 5 members: Group G Capital Partners, Schultze Asset Management, Foxhill Capital Partners, OppenheimerFunds and Stairway Capital. The group of lenders that had balked at the government-orchestrated sale of Chrysler has grown noticeably smaller in the week since the automaker filed for bankruptcy.

Chrysler raises incentives to move more cars
Chrysler said Wednesday it is offering up to $6,000 worth of incentives as it races to emerge from bankruptcy protection and counter a prolonged U.S. sales slump.
Speed camera boss Tom Riall banned for driving over 100mph
A senior executive at Britain’s biggest speed camera firm was banned from driving for six months today after he admitted travelling at more than 100mph.

Bankruptcy and 'Obama bounce' bolsters Chrysler's 'purchase intent?'

Bankruptcy and 'Obama bounce' bolsters Chrysler's 'purchase intent?'
According to Edmunds.com, Chrysler's bankruptcy -- coupled, perhaps, with positive statements from the president -- has actually bolstered consumers' interest in buying a Chrysler product.

Ford seen gaining from Chrysler bankruptcy
As Chrysler makes its way through bankruptcy court and General Motors tries to avoid the same fate, Ford is gaining share and emerging as the strongest of the Big Three.

Indepedents give better repair service, Consumer Reports survey says

Indepedents give better repair service, Consumer Reports survey says
When it comes to service and repairs, car owners surveyed by Consumer Reports said they preferred taking their cars to independent repair shops rather than dealerships.

Chief says UAW will sell its Chrysler stock

The UAW has no intention of keeping its 55 percent stake in the new Chrysler and will sell the shares to fund a trust that will take over retiree health care.

‘Cash for clunkers’ plan draws fire

A ‘cash for clunker’ bill on Capitol Hill aims to boost sales of more fuel-efficient cars, but some critics say the plan ought to be modified, if not scrapped

Did UAW really win big with Chrysler?

Chrysler is Fiat's next challenge
Sergio Marchionne, though not a 'car guy,' led the Italian carmaker's revival. With the Chrysler-Fiat alliance, his reputation as a turnaround artist is on the line. Sergio Marchionne is routinely hailed as the savior of Fiat, the man who transformed the Italian automaker from a punch line into a player.

Did UAW really win big with Chrysler?
The United Auto Workers union would appear to be the big winner in the Chrysler bankruptcy saga, having exercised its considerable political muscle to win a 55 percent stake in the country's third-largest automaker.
Motor mouth: Emotional tug of old classics
I can’t decide whether it’s me or my age but whenever I catch sight of a Morris 1000 my insides go soft and gooey. It might be the fact that a dark green four-door model â€" registration number 793 JPB â€" was our family saloon when I was growing up. The car we piled into to head to the south coast for the summer holidays and the car I would learn to drive in and pass my test in.

Traffic lights covered up by Ealing Council to test congestion 'cure'

If buying American is your preference, check the first digit of the VIN

Ford outsells Toyota as April sales tumble
Record sales of its fuel-efficient Fusion helped Ford grab a bigger slice of the U.S. car market in April, as it outsold Toyota for the first time in at least a year.
Traffic lights covered up by Ealing Council to test congestion 'cure'
What would happen if traffic lights were suddenly switched off? Would there be gridlock or would the queues of frustrated drivers miraculously disappear?
Hero Honda sales surge 29% in April
Continued efforts to boost sales in rural areas helped Hero Honda Motors (HHML), India's largest maker of two-wheeler to post a growth of 29.45 per cent in sales at 370,575 units during April. The company had sold 286,252 units in the same month a year ago.