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Entries tagged "automakers"Chrysler dealerships close up shopChrysler's is ending franchise agreements with 789 dealers. Canada mulls bailout for automakersAs the auto rescue bailout winds its way through Washington, Canada is putting together its own package to aid the Detroit automakers' substantial operations in Ontario. ... Big Three: Chrysler, not really all that bigThe media has been batting around the old chestnut of the Big Three a lot in light lately. The phrase, however, is clearly dated. Sure, General Motors Corp. and Ford Motor Co. are massive enterprises worthy of the "big" label, but Chrysler? Chrysler has long played second fiddle to its bigger rivals, but today more than ever it simply doesn't rank with them. Nonetheless, Chrysler remains in our minds a member of the Big Three, not just here in the U.S., but abroad as well, which is odd given the company's limited distribution outside North America. ... Auto sales slump in OctoberAutomakers on Monday reported dismal sales figures for the month of October, providing concrete data about a sales decline that has put recoveries in jeopardy and has sent some companies scrambling to find partners. ... Report: GM-Chrysler closer to winning government deal financingGeneral Motors Corp. is reportedly making progress in its efforts to win government funding for a possible merger with Chrysler LLC. GM and Chrysler private equity owner Cerberus Capital Management LP have been in talks for weeks about a potential deal, but General Motors according to sources is reluctant to do any deal that would not provide it with at least some of the estimated $15 billion in new liquidity it needs to survive a sales slowdown. With Cerberus and other private investors apparently unwilling to provide that level of capital, the companies have turned to their allies in Washington... New rumor links Volvo to BMWWith Detroit's Big Three scrambling to raise cash and weather what is expected to be a prolonged sales slowdown, it is probably no surprise that a fresh rumor has emerged about Ford Motor Co. potentially selling its Volvo Cars Corp. subsidiary. The latest report comes from London's Sunday Times, which quotes unnamed senior car industry sources saying that Ford might sell Volvo to BMW AG as part of its drive to raise cash. ... Michigan politicos ask that automakers be included in bailoutThe U.S. auto industry, already the recipient of $25 billion in government loans, could be getting more largess if a group of Michigan lawmakers get their way. Members of the Michigan congressional delegation on Thursday sent a letter to Treasury Secretary Hank Paulson and Federal Reserve Board Chairman Ben Bernanke urging the agencies to use the authority granted to them in the $700 billion bailout bill to promote liquidity in the auto industry.... GM birthday party overshadowed by turmoil in the credit marketsGeneral Motors Corp. marked its 100th birthday in style on Tuesday, formally unveiling its much ballyhooed Volt electric car that the automaker says is the beginning of a new generation of environmentally friendly, fuel efficient vehicles. But the celebration of the company's past was eclipsed somewhat by the harsh reality of the challenges it faces now and in the future.... Despite the media, don't expect Ford to sell Volvo soonEighteen months can seem like an eternity in the auto business. In fact, it was about 18 months ago when rumors first surfaced that Ford Motor Co. could sell its ailing Volvo unit as part of the U.S. automaker's recovery plan.... Top tagsYou have executed a tag search on Dealscape. On the left,you will find a comprehensive list of stories tagged "automakers." Below are the most-popular tags for Dealscape. On the right of the page you will find a search box to dig deeper into our content.
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