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OEM News

Chrysler LLC told a select group of dealers that it is weighing the strengths and weaknesses of its roughly 3,200 dealerships, as it tries to prune several hundred of them from its sales network.

JPMorgan analyst Himanshu Patel says there's a 60% to 80% chance GM will default.

Chrysler LLC can start the clock ticking on its sale to a partnership with Fiat SpA after a bankruptcy judge approved the first major step Tuesday to craft a viable automaker on life support from the U.S. government.

Chrysler LLC today announced that, as a result of the comprehensive restructuring plan agreed to by many of its stakeholders, it has reached an agreement in principle to establish a global strategic alliance with Fiat SpA to form a vibrant new company. It will allow Chrysler and Fiat to fully optimize their respective manufacturing footprints and the global supplier base, while providing each with access to additional markets. Fiat powertrains and components will also be produced at Chrysler manufacturing sites.

With all 30 of Chrysler's plants idled through the automaker's bankruptcy process, its cash-strapped parts suppliers will have no new revenue for the next 60 days -- or indefinitely.

Friday, 01 May 2009 07:24

Chrysler Name to Remain Intact

Allpar is reporting that the Chrysler name will remain at the top of the new company formed out of Chrysler LLC’s “good assets.” While the working names NewCo and OldCo have been used, along with others, Fiat’s press release on the situation noted:

At closing of the transaction, NewCo will assume the corporate name of Chrysler and become the owner of substantially all the Chrysler’s business without certain debts and liabilities.

Thursday, 30 April 2009 03:45

Saturn Closes in Corpus Christi, TX

Saturn of Corpus Christi is no more. A victim, of the struggling automaker General Motors. GM is closing all Saturn, Saab, Hummer and Pontiac dealerships.

Officials tell AP Chrysler will be eligible for up to $8 billion in federal aid

Chrysler will file for bankruptcy after talks with a small group of creditors crumbled just a day before a government deadline for the automaker to come up with a restructuring plan, President Barack Obama said April 30.


Friday, 24 April 2009 06:58

GM will annouce Pontiac to be Eliminated

General Motors will announce an updated survival strategy to the auto task force. GM had been considering phasing out Pontiac instead of sticking with a plan to have it continue as a niche brand. GM said on Feb 17 that Cadillac, Chevrolet, Buick and GMC would be its four core U.S. brands. On March 31, the task force told GM, surviving on $15.4 billion in bailout funds, that its restructuring plan wasn't aggressive enough and denied a request for $16.6 billion in additional aid. GM is expected to tell the government that it will stick with plans to keep GMC, Buick, Chevrolet and Cadillac. Saab, Hummer and Saturn are for sale.

By leveraging its national marketing efforts and consolidating dealerships, Hyundai is not just surviving, but actually thriving in the Sacramento area. While other brands struggle to sell cars and beg for government bailouts, Hyundai’s sales numbers are what analysts have characterized as decent during a year in which carmakers, especially the Big Three, have experienced plummeting sales.