Automaker and Dealers (234)
North America's automotive parts supply base faces an imminent collapse over the next 30 to 90 days unless the federal government provides at least $10 billion in immediate funding, Grant Thornton LLP partner Laura Marcero said March 12.
Automaker to end jobs bank program
Ford said that the UAW has agreed to end its controversial jobs bank program, which pays UAW workers who are not working. About 1,400 employees were in Ford’s jobs bank as of November. General Motors Corp. said Wednesday its jobs bank program will end next week and Chrysler LLC ended its jobs bank program earlier this week.
“We think the partnership with Fiat not only gives us a lot of confidence, but more than that, it really moves us to a prosperity plan where it’s a true global powerhouse,” Press told reporters following a meeting with dealers near the Baltimore-Washington International Thurgood Marshall Airport.
Automakers say reports speculative
As for the specific product plans between the two automakers, spokespeople for Fiat and Chrysler said any reports are speculation.
Although defending proposed alliance, top exec says automaker is also exploring other alternatives.
Chrysler LLC Vice Chairman and President Jim Press said the automaker is in talks with other possible partners if the U.S. Treasury Department rejects a tie-up with Fiat SpA, and defended the proposed alliance saying it would help preserve U.S. jobs.
Chrysler has grabbed a tenuous lifeline, agreeing to give Italian automaker Fiat 35% of the company in exchange for access to its small car platforms and a global dealer network.
Chrysler seeks $3 billion more in U.S. loans
Chrysler LLC's new incentives have given it more market share this month, even as the auto industry's sales remain depressed, Chrysler President Jim Press said.
GM said it may lose as many as 500 dealers in its home market this year, an increase from 350 last year, as the largest U.S. automaker works toward a goal of cutting 1,700 by 2012.
Mercedes-Benz's U.S. division paid a $28.9 million fine in December, 2008 --- the second largest such fine imposed --- for violating federal fuel efficiency requirements in the 2007 model year, the government said Jan 6. A total of six automakers were assessed $37 million in fines in 2008 for violating federal fuel efficiency requirements.