Obama’s actual statements

March 30th, 2009 by DaveAdmin

In their rush to send out key details of Obama’s auto plan, many journalists ignored important information. This is the full text; other documents are available from the White House.
One of the challenges we have confronted from the beginning of this administration is what to do about the state of our struggling auto industry. [...]

Tags: Auto industry, auto task force, bailout, bankruptcy, Canada, Chrysler, Congress, credit, creditors, dealers, design, Dodge Ram, economy, engines, EPA, Europe, February, Fiat, GEM, General Motors, government, Indiana, jobs, loans, manufacturing, market, May, Michigan, Obama, Ohio, Opel, partnership, parts, review, Rick Wagoner, Sales, task force, Treasury, Trucks, union, Wagoner. Auto industry, Government loans

Bob Nardelli’s letter to shareholders

February 17th, 2009 by DaveAdmin

Dear Stakeholders,
Today, Chrysler LLC submitted its viability plan to U.S. Treasury Secretary Geithner in line with the government’s deadline. It gives detailed information on how we will achieve and sustain long-term viability. We believe our submission meets the terms of the federal loan demonstrating our viability as a stand-alone company, as well as the potential [...]

Tags: Alliances, CAFE, Chrysler, Chrysler Financial, credit, dealers, design, Dodge, Dodge Ram, economy, employees, engines, ENVI, EPA, Fiat, government, Government loans, jobs, loans, market, market share, Nardelli, partnership, Phoenix, review, Sales, suppliers, task force, Treasury, U.S. Treasury, UAW, union. Chrysler

Treasury to help industry, dealers

February 10th, 2009 by DaveAdmin

Treasury Secretary Timothy Geithner declared that the U.S. would spend up to $1 trillion to boost consumer credit, including car loans and inventory financing for dealers. Geithner noted that the approach of spending money to boost banks had not had the desired effects on the greater economy.
The new effort is similar in principal to one [...]

Tags: banks, Chrysler, Chrysler Financial, credit, dealers, economy, GMAC, inventory, loans, market, Treasury. Auto industry, Government loans

Chrysler cancels dealer shindig

December 30th, 2008 by Bill Cawthon

Chrysler has decided to forego its annual reward meeting for its top dealers. The event, scheduled for March 15-19, was to have been held at the Hilton Los Cabos Resort in San Jose del Cabo, Mexico.
Company spokesman Stuart Schorr said the decision was the result of an agreement made last fall between Chrysler and its [...]

Tags: Chrysler, dealers, economy. Chrysler, Events

Perhaps Friday?

December 17th, 2008 by Bill Cawthon

The latest from the Bush Administration is that short-term loans for Chrysler and GM could come by Friday.
The loans, which were predicted to be available today, are now being held as Treasury Secretary Henry Paulson studies whether enough money will be left in the Troubled Asset Relief Program to bail out any banks that might run into [...]

Tags: bailout, Chrysler, economy, loans, Obama, Paulson, Treasury. Auto industry, Chrysler, GM, Government loans

GM to cut one third of its Q1 vehicles

December 12th, 2008 by DaveAdmin

General Motors, facing abrupt sales declines due to the economy and rumors of bankruptcy, announced that it would cut another 250,000 vehicles (around one third of normal production) from first quarter 2009, by temporarily closing 21 North American factories. Many will be closed for all of January.

Tags: economy, factories, General Motors, Sales. Auto industry, GM, Government loans

Chrysler ends talks with Chery

December 9th, 2008 by Bill Cawthon

According to the Wall Street Journal, Chrysler won’t be getting a small car from Chinese manufacturer Chery Automotive Co. Due to the stumbling global economy the Detroit automaker says it has ended talks of cooperation between the two companies.
The news came in a statement issued to the WSJ on Monday.
In the statement, Chrysler said, “Both [...]

Tags: China, Chrysler, economy. Chrysler, Future vehicles

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