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General Motors CEO Rick Wagoner's refusal to consider bankruptcy as an option is substantiated by the results of a recent Morpace Omnibus Study.

With bankruptcy for all three US automakers not just a possibility but a probability without drastic action, Pres. Elect Obama used his first official news conference on Nov. 8 to offer help for the nation's "backbone of manufacturing."

Thursday, 30 October 2008 09:24

Toyota, Honda lead quality rankings

Toyota Motor Co.'s Scion topped the rankings in Consumer Reports' annual quality survey released Thursday.

Volkswagen briefly became the world’s largest company by market capitalization after an extraordinary surge in its share price driven by a near-panic by hedge funds and other traders to stop losses on positions betting on a fall in the stock.

Touted as Victory for Consumers and Small Business Owners by Industry Groups

The "Cash for Clunkers" amendment to the United States Senate stimulus package was withdrawn from the bill on Feb. 5. The "Cash for Clunkers" program would have earmarked federal funds for car owners to trade in their sport utility vehicles in exchange for vouchers to be used to obtain newer, more fuel efficient vehicles.

Monday, 13 October 2008 11:53

Auto Sales Forecast 2008–2009

U.S. consumers will buy 13.9 M vehicles in 2008 and Edmunds.com forecasts 13.7 M for 2009. This down due to a 26.6% drop in September sales, the lowest since 1993. U.S. sales are now 2 million units below 2007, as consumers are keeping vehicles about 4 months longer, according to J.D. Power, which sees 2009 sales dropping to 13.2 M vehicles.