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

S&P lowers Chrysler ratings

April 10th, 2009 by Bill Cawthon

Standard & Poor’s lowered its ratings on Chrysler’s senior secured loans due in 2013 and 2014 two grades, from CCC to CC, citing the likelihood of default and lower potential recoveries by holders of Chrysler debt.
The New York-based ratings firm estimates those holding Chrysler debt might recover just 30 to 50 cents on the dollar [...]

Tags: Chrysler, loans, ratings. Bankruptcy, Chrysler

S&P cuts Toyota’s credit rating outlook

December 17th, 2008 by Bill Cawthon

Proving the meltdown in the auto industry knows no bounds, Standard & Poor’s has lowered Toyota’s credit rating outlook.
While the automaker’s AAA rating (the highest investment grade) was affirmed, S&P’s action signals a downgrade is more likely that it was.
S&P says Toyota is also subject to the worldwide decline in vehicle sales and that the [...]

Tags: credit, ratings, Sales, Toyota. Auto industry, Sales

Dodge Ram gets five star crash test ratings

December 8th, 2008 by DaveAdmin

The 2009 Dodge Ram 1500 Crew Cab was given five-star ratings for driver- and front-passenger protection in a frontal crash. Side and rollover tests have not yet been completed, but the Ram includes Electronic Stability Program (ESP) with trailer sway control, side-curtain airbags, and other features.

Tags: crash, Dodge, Dodge Ram, ratings. Dodge, Trucks

Suppliers say Chrysler in “chaos” after recent job cuts

December 7th, 2008 by Bill Cawthon

The vacuum created when 5,000 white-collar workers left Chrysler last week has created “chaos” within the company, according to a report from Dow Jones News Service. Job cuts long ago eliminated any fat in the organization and the company has been trimming muscle for months. Citing three people familiar with Chrysler’s supply chain, Dow Jones [...]

Tags: Chrysler, employees, ratings, suppliers. Chrysler

Moody’s downgrades Chrysler, Chrysler Financial

December 4th, 2008 by Bill Cawthon

Moody’s Investors Service has downgraded the debt ratings of Chrysler and Chrysler Financial. Chrysler’s rating was dropped from Ca to Caa2 and Chrysler Financial’s went from B3 to Caa2.
The move means Moody’s believes there’s an increased likelihood of default by the two companies. In its report, the New York-based ratings agency said: ”The rating action reflects Moody’s view that [...]

Tags: bankruptcy, Chrysler, government, loans, Moody's, ratings. Chrysler, Government loans

Chrysler sales plummet in November; Dodge still strong brand

December 3rd, 2008 by Bill Cawthon

Chrysler sales plunged 47.1 percent in November as tight credit and consumer concerns about the economy took a toll on the entire industry. Compounding the matter was buyer uncertainty about the future of Chrysler and the other American automakers. In its loan request to Congress, General Motors cited a study by CNW Marketing Research that [...]

Tags: Aspen, Avenger, bailout, BMW, Caravan, Cherokee, Chevrolet, Chrysler, Commander, compass, Congress, credit, Dodge, Dodge Challenger, Dodge Charger, Dodge Ram, Durango, economy, General Motors, Honda, incentives, Jeep, Jeep Wrangler, Jim Press, Journey, loans, minivans, Mustang, Nissan, patriot, pickups, prices, pricing, ratings, record, Sales, Toyota, Viper. Auto industry, Chrysler, Dodge, Jeep, Sales

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