President Obama signs cash for clunkers bill

August 7th, 2009 by Bill Cawthon

As expected, President Barack Obama wasted no time approving legislation that added another $2 billion to the Car Allowance Rebate System, extending the program through Labor Day.
The original funding was essentially gone after just a week as more than 220,000 light vehicle sales gobbled up some $920 million of the original $1 billion allocated for [...]

Tags: Cash for Clunkers, Obama. Auto industry, Incentives

Chrysler receives $70 million grant

August 5th, 2009 by Bill Cawthon

Reuters is reporting that Chrysler Group has been awarded a $70 million grant from the federal government as part of American Recovery and Investment Act of 2009. The money will go Chrysler’s facilities in Warren, Michigan, and St. Louis, Missouri, “to develop, validate, and deploy 220 advanced plug-in hybrid electric pickups and minivans.”
Chrysler will also [...]

Tags: A123 Systems, Chrysler, Obama. Awards and Honors, Chrysler

Politicians demand government intervention

July 8th, 2009 by DaveAdmin

Republican and Democrats alike have led the charge to have the government override private industry’s decisions as 202 Congressmen cosponsored a bill which would prevent GM and Chrysler from dropping dealers while in bankruptcy. In Chrysler’s case, the dealerships have already lost their franchises and some have closed.
The proposal would overrule bankruptcy law, judicial decisions, [...]

Tags: automakers, bankruptcy, Chrysler, Congress, dealers, EPA, government, May, Obama, ratings, Sales. Chrysler, Dealers, GM

Dealers closed for politics?

May 29th, 2009 by DaveAdmin

Numerous weblogs have now charged President Obama with forcing the closure of Chrysler dealers who contributed to the Republican Party.
Nate Silver noted that, since 92% of dealerships remaining open contributed to the Republicans, it should not be surprising that Republicans dominate the dealerships being closed. Past Automotive News polls have shown that an overwhelming majority of [...]

Tags: dealers, Obama. Chrysler, Dealers

Chrysler plan objectors disappearing

May 5th, 2009 by DaveAdmin

The number of creditors objecting to the Chrysler-Fiat-Treasury plan appears to be dwindling, if a motion filed today by the “Attorneys for the Chrysler Non-TARP Lenders” (Thomas Lauria, who claimed death threats as the sole named attorney) is any evidence.
In part II, the document tellingly describes the “Non-TARP Lenders” as holding “over $300 million of [...]

Tags: banks, Chrysler, credit, creditors, design, Dodge Ram, Fiat, GEM, government, hedge funds, loans, managers, market, Obama, President Obama, stock, Strategic Vision, Treasury, UAW, union, VEBA. Bankruptcy, Chrysler

Government to make massive auto buy

April 9th, 2009 by DaveAdmin

According to the Detroit News, the GSA will buy 17,600 fuel-efficient vehicles from all three major American automakers by June 1, at a cost of $270 million. This includes 2,500 hybrid sedans, to be ordered by April 15; while Detroit automakers have invested in hybrid-electric technologies, sales fell after gasoline prices dropped. The White House estimated [...]

Tags: Congress, government, Obama. Auto industry, Chrysler, Dodge, GM, Gas mileage, Sales

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

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