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OEM News

Wes Smith, president of E&E Manufacturing, testified May 13 before the House Small Business Committee at a hearing examining the economic impact of the domestic auto crisis on small suppliers throughout the United States.

Tuesday, 12 May 2009 13:54

Chrysler lawyers have hands out first

Chrysler  lawyers have asked a judge to give their fees priority, which attorneys said suggests unsecured claims such as trade debts (accounts payable owed to businesses) won't be paid.

In what sounds like the closest step yet to a Manhattan Project for the auto industry, General Motors and the University of Michigan on Thursday announced the formation of the Institute of Automotive Research and Education. Priorities include helping to improve fuel economy, speeding electric vehicles to market and studying smart materials that will replace mechanically operated vehicle components.

Purchase intention for Chrysler vehicles has climbed since it declared bankruptcy on April 30, according to Edmunds.com.

Ford Motor Co., the only U.S. automaker operating without federal bailout loans, burned through $3.7 billion in cash during the first quarter in posting its fourth straight quarterly loss.

 

General Motors lost $6 billion in the first quarter and its revenue fell by nearly half as car buyers worldwide steered clear of showrooms out of fear that the wounded auto giant may go bankrupt and stop honoring its warranties.

Thursday, 07 May 2009 10:43

Chrysler Starts Dealer Payments

Chrysler LLC began paying some of the hundreds of millions of dollars it owes its dealers on May 6, although some said they hadn't yet received payments.

Thursday, 07 May 2009 10:41

In Drive for Balance, Ford Parks the SUV

Ford announced that it is pouring $550 million into the ongoing conversion of a Michigan truck plant into a facility that will produce the Ford Focus compact -- including a zero-emissions electric version of the Focus.

Wednesday, 06 May 2009 08:20

What is a Dealer Worth?

For both Communities and Automakers, Dealers are More Valuable than Ever

As General Motors and Chrysler move forward with their respective restructuring plans, I have noticed a growing and unsettling wave of anti-dealer rhetoric in the news. If you believe what you read and hear, you might think dealers are the root of all the auto industry's problems. It's not unions, poor design, mismanagement, or inconsistent government regulation at fault. Oh, no. It is the dealers who have brought America's domestic auto industry to its knees.

Wednesday, 06 May 2009 06:00

Deal Struck on 'Cash for Clunkers'

The cash-for-clunkers plan would run for one year, offering vouchers to people who trade in vehicles with average city/highway fuel economy of less than 18 miles a gallon to buy a more-efficient new car or light truck. The proposed program would offer the maximum $4,500 voucher for people to use to buy a car that gets at least 10 more mpg or a truck that is at least five mpg more efficient. The program is designed to spur some one million purchases of new cars or trucks to support the ailing auto industry.