fbpx
×

Warning

JUser: :_load: Unable to load user with ID: 573

OEM News

President Obama announced GM's Chapter 11 filing June 1, as expected. The bankruptcy filing is the third-largest in U.S. history and the largest ever in U.S. manufacturing.

While most companies have seen a downturn since the recession began, recent news that Chrysler plans to suspend activity in most North American factories this summer meant another blow for the nation's auto parts suppliers - an industry that employs more U.S. workers than the automakers themselves.

About 300 dealers from 45 states announced on May 18 that they have formed an alliance called the 'Committee of Chrysler Affected Dealers' to protest "old Chrysler's" plan to cancel 789 franchises. The group is asking U.S. bankruptcy Judge Arthur Gonzalez to delay hearings on Chrysler's reorganization plan.

"In the past, an agreement such as this would have been considered impossible," said President Obama, announcing an unprecedented increase in mileage and emissions standards on May 19,  bringing new cars and trucks sold in the United States to an average of 35.5 miles per gallon, about 10 mpg more than today's standards. The rules will begin to take effect in 2012 and are to be achieved by 2016.

Ralph Nader, in a letter to Senator Chris Dodd and Congressman Barney Frank, called on the Senate and House banking committees to hold thorough hearings to protect taxpayers' investments and seek answers to several questions such as:

Tuesday, 19 May 2009 04:27

Oregon auto dealers fight to stay open

The National Automobile Dealers Association estimates that as many as 80 percent of its member dealers -- including Chrysler LLC, General Motors Corp. and Nissan franchises -- have personally guaranteed credit lines, requirements that became more common as the credit crunch took hold last fall.

GM announced that it has started notifying about 1,100 underperforming and very small sales volume US dealers that it would not retain them on a long-term basis. Unlike Chrysler,s more definitive announcement, GM will allow appeals and will repurchase inventory from at least some of the dealers.

GM plans to drop about 1,600 U.S. dealers as it struggles to slash billions of dollars in operating costs and debt ahead of an anticipated bankruptcy filing by the end of the month.

Reuters is reporting that GM said, if it files for bankruptcy, it would most likely pursue a quick sale of its best assets to a new operating company similar to the process now reshaping Chrysler LLC.

Ford Customer Service Division (FCSD) has launched its fourth-consecutive national wholesale rebate program. the 2009 Summer of Savings national rebate program for qualified auto shops.