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The U.S. government lost $9.26 billion in its financial rescue of the auto industry, and closed out its last investment earlier this month six years after initiating the plan.
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General Motors has elevated Mary Barra as its new CEO to replace Dan Akerson, making her the first female to head a global automotive manufacturer.
Read More →WASHINGTON – In an early morning televised announcement, President Bush announced a plan to offer the struggling automakers $17.4 billion in short-term financing, $13.4 immediately available and another $4 billion likely available in February. But the plan comes with strict conditions.
Read More →Ford's plan calls for an investment of approximately $14 billion in the U.S. on advanced technologies and products to improve fuel efficiency during the next seven years.
Read More →The Associated Press reported late Thursday night that bipartisan negotiations in Senate on a Republican version of the House-passed automotive industry bailout plan fell apart after the United Auto Workers balked at demands for dramatic wage cuts.
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