OEM News

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.

Thursday, 29 January 2009 02:37

Promising signs arise for January auto sales

Pent-up demand for new vehicles grew to 820,000 new cars and trucks last year, as consumers continued to wait out the dismal economic environment before making a new purchase, according to a report released Monday by CNW Marketing Research.
Thursday, 29 January 2009 02:31

Chrysler-Fiat deal may yield 7 new vehicles

Automakers say reports speculative

As for the specific product plans between the two automakers, spokespeople for Fiat and Chrysler said any reports are speculation.

“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.

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.

Wednesday, 28 January 2009 04:35

Chrysler turns to Fiat for strength

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.

Wednesday, 28 January 2009 04:23

Incentives help Chrysler market share

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.

With the announcement of Chrysler Financial gaining access to $1.5 billion in loans from the Treasury Department, qualified new vehicle customers will be able to apply for zero percent financing for up to 60 months when financing a new Chrysler, Jeep or Dodge vehicle through Chrysler Financial. The affordable financing terms will be available on select 2008 and 2009 MY vehicles, and are effective immediately.

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.