An auto company high executive who shall remain unnamed chuckled when asked about the competitive prospects of Chrysler:
Chrysler will begin leasing vehicles again after a hiatus of more than a year, the automaker announced Wednesday.
Most forecasts of future performance in the auto industry tend to be variations of tea-leaf reading. Analysts take a look at what companies are planning in the way of future models, make a guess about sales volumes, and lay that over a macroeconomic outlook. The results are compromised by too many hard-to-quantify variables.
From the cries of protest emanating from Washington this week, you would think that General Motors and Chrysler were guilty of clubbing baby seals. Or perhaps drowning kittens.
A controversy over the way the Obama administration, General Motors and Chrysler decided to shutter more than 3,000 auto dealerships has reached Congress, with a House subcommittee now taking a closer look and a bill under consideration that could reverse the decision.
The independent overseer of the $700 billion bailout has caused a ruckus over an important question: How much do taxpayers have on the line?
After filing for bankruptcy, Chrysler in May notified almost 800 dealers around the U.S. that they would lose their franchise licenses and be kicked out of the restructured automaker's dealer network. Steve Biegler, who runs the dealership his grandfather started, was one of those targeted. Last week, Chrysler sent out representatives to finish dismantling his store's branding.
Chrysler announced plans to reopen 7 of its 11 assembly lines later this month for the first time since the day after the company filed for bankruptcy in April.
Chrysler and Italian automaker Fiat on Wednesday officially signed a strategic alliance brokered by the U.S. government, one day after the Supreme Court cleared the path for the deal.
Chrysler, which has endured more perils than Pauline, announced Wednesday that it has finalized its global alliance with Fiat, its last obstacle to emerging from bankruptcy.
An auto company high executive who shall remain unnamed chuckled when asked about the competitive prospects of Chrysler:
Chrysler will begin leasing vehicles again after a hiatus of more than a year, the automaker announced Wednesday.
Most forecasts of future performance in the auto industry tend to be variations of tea-leaf reading. Analysts take a look at what companies are planning in the way of future models, make a guess about sales volumes, and lay that over a macroeconomic outlook. The results are compromised by too many hard-to-quantify variables.
From the cries of protest emanating from Washington this week, you would think that General Motors and Chrysler were guilty of clubbing baby seals. Or perhaps drowning kittens.
A controversy over the way the Obama administration, General Motors and Chrysler decided to shutter more than 3,000 auto dealerships has reached Congress, with a House subcommittee now taking a closer look and a bill under consideration that could reverse the decision.
The independent overseer of the $700 billion bailout has caused a ruckus over an important question: How much do taxpayers have on the line?
After filing for bankruptcy, Chrysler in May notified almost 800 dealers around the U.S. that they would lose their franchise licenses and be kicked out of the restructured automaker's dealer network. Steve Biegler, who runs the dealership his grandfather started, was one of those targeted. Last week, Chrysler sent out representatives to finish dismantling his store's branding.
Chrysler announced plans to reopen 7 of its 11 assembly lines later this month for the first time since the day after the company filed for bankruptcy in April.
Chrysler and Italian automaker Fiat on Wednesday officially signed a strategic alliance brokered by the U.S. government, one day after the Supreme Court cleared the path for the deal.
Chrysler, which has endured more perils than Pauline, announced Wednesday that it has finalized its global alliance with Fiat, its last obstacle to emerging from bankruptcy.
U.S. stock were set to open higher Wednesday after the Supreme Court cleared the way for Chrysler to exit bankruptcy and a rise in oil prices.
The U.S. Supreme Court on Tuesday cleared the way for the sale of Chrysler to a consortium led by Italian automaker Fiat.
A federal bankruptcy judge Tuesday approved automaker Chrysler LLC's plan to terminate 789 dealer franchises, calling it an "appropriate and necessary" step by the company.
The Supreme Court threw a wrench into the plans to have a quick bankruptcy process at Chrysler LLC, delaying the company's combination with Italian automaker Fiat.
The railroading of secured lenders by the White House in Chrysler's reorganization raised troubling questions about the rights of U.S. creditors. That the highest court in the land has now signaled a willingness to consider the merits of arguments made by those opposed to the deal is good for capitalism -- not to mention democracy.
U.S. stocks were set for a weak open Tuesday as investors awaited news about the Chrysler bankruptcy case and the banking sector.
A top Obama administration lawyer urged the Supreme Court on Monday to allow Chrysler's bankruptcy to proceed, noting that the needs of the economy outweigh the needs of the deal's detractors.
Stocks have been on the best three-month tear since 1982 -- and there's little in the week ahead to interrupt the flow.
A group of Indiana pension funds has made a last-minute effort to block Chrysler's deal with Italian automaker Fiat.
The U.S. Supreme Court on Monday is expected to decide whether a group of shareholders could continue attempts to block Chrysler LLC's sale of top assets to Italian automaker Fiat.
The last thing the battered U.S. labor market needs are the current problems at GM and Chrysler.
Despite unprecedented turmoil in the auto industry General Motors, Chrysler LLC and Ford Motors all reported auto sales that, while still anemic, were much better than expected.
The screams produced by the Chrysler bankruptcy are nothing compared with the howling that will accompany General Motors' bankruptcy filing as various creditors claim that the case is going too fast and their rights are being trampled.
U.S. stocks were poised to soar at the start of trading Monday after General Motors filed for bankruptcy and a bankruptcy court judge ruled in favor of Chrysler's asset sale.
Chrysler and GM employees are on the edge of their seats, waiting to find out what will be left standing after the dust settles. Meanwhile, a vast network of companies outside Detroit are bracing for impact.
Court proceedings that could determine the fate of Chrysler LLC continued Thursday after a marathon session that saw the automaker square off with creditors and auto dealers opposing the automaker's government-brokered restructuring plan.
Bankrupt automaker Chrysler LLC "went around the world" searching for a business partner but only Italy's Fiat was willing to strike a deal after last year's economic tumble, a former Chrysler executive told a federal judge Wednesday.
The next seven days could be the most important in the history of the U.S. auto industry.
Fiat is looking to become the world's second biggest automaker after Toyota through deals with troubled U.S. carmakers Chrysler and General Motors. CNN's Jim Boulden explains how Fiat's fortunes rose while its U.S. rivals crashed.
Chrysler LLC's decision last week to close nearly 800 dealerships may just be business, but for the people who work and trade in those showrooms and service bays, it's personal.
Chrysler LLC will close down 789 dealerships, or roughly 25% of the current number, according to a plan filed in bankruptcy court Thursday.
Chrysler dealers nationwide were fearing the UPS guy on Thursday.
Among the thousands of pages of documents filed in connection with Chrysler's Chapter 11 bankruptcy are affidavits from Chrysler executives that open up a window on the auto business previously closed to outsiders in this intensely competitive business.
The reorganization of troubled automaker Chrysler LLC moved a step closer Friday when opposition by lenders opposed to the deal collapsed.
Will General Motors succeed in its efforts to restructure itself and turn the embattled automaker around? That could depend on how well the bankruptcy process plays out over the next month at rival Chrysler LLC.
Chrysler announced a new sales incentive plan Wednesday as the carmaker seeks to spur sales while it works through bankruptcy and restructuring.
Chrysler LLC will not repay U.S. taxpayers more than $7 billion in bailout money it received earlier this year and as part of its bankruptcy filing.
Chrysler has delayed the introduction of a new incentive program intended to boost sales, citing the need for more time to communicate with dealers. The plan is now expected early Wednesday, a day later than initially expected.
With bankruptcy threatening to further weigh down the carmaker's sales, Chrysler is expected to announce a new incentive program Tuesday.
Chrysler LLC is seeking a quick resolution to its bankruptcy filing so it can move ahead with its merger.
Chrysler LLC expects to lose $4.7 billion this year and to continue to lose money for the next two years, according to a filing from one of the company's top financial advisers.
Stocks rose Friday, as a few better-than-expected economic reports and a rally in oil stocks gave a boost to the broader market.
The bankruptcy at Chrysler LLC is likely to soon be felt across the auto industry, disrupting production at plants of healthier rivals within a week or two, according to industry experts.
U.S. auto sales plummeted again in April, but automakers said conditions were stabilizing and that the market is getting closer to a recovery.
Lawyers representing Chrysler LLC said on Friday that a speedy bankruptcy process is essential to the survival of the company.
Bankrupt automaker Chrysler LLC identified four plants with almost 5,000 jobs between them slated for closure by the end of next year, according to a filing with the bankruptcy court Friday.
Thursday afternoon, Chrysler filed for Chapter 11 bankruptcy. So what does that mean for you if you've got a Chrysler parked out in the driveway?
The deal that is supposed to save jobs has put Chrysler hourly workers out of a job for at least the next month.
U.S. stock futures rose modestly Friday morning, ahead of a barrage of economic reports.
Chrysler LLC filed for bankruptcy Thursday. But a deal has been reached to combine the company with Fiat in order to allow Chrysler to stay in business.
Stocks ended mixed Thursday after an earlier rally lost steam, as weakness in financial and oil stocks vied with strength in technology and industrial shares.
It's politically expedient for President Obama to blame recalcitrant hedge funds and "speculators" for forcing Chrysler into bankruptcy. But they were right to just say no to the U.S. government's restructuring plan, which treads on the rights of senior creditors.
With Chrysler declaring bankruptcy, what may happen to the storied carmaker's 22 U.S. plants and thousands of workers is an open question.
The word "bankruptcy" in headlines along with the name of the company that made your car - or a car you're thinking about buying - could send your blood pressure soaring.
Chrysler is undergoing the last bits of metamorphosis as it is hopefully transforms from a caterpillar into a butterfly.
Facing a Thursday deadline, Chrysler LLC appears on the verge of bankruptcy even as the Obama administration signaled a commitment to keep the troubled automaker alive.
Chrysler and General Motors are making progress in their efforts to stay in business. But even if they succeed, don't assume that means the problems are over for the battered auto industry.
As the clock ticked down Wednesday on a government-imposed deadline for Chrysler LLC to prove its viability, expectations grew that the troubled automaker would survive.
The major banks that loaned Chrysler LLC about $7 billion have agreed to significantly reduce that debt, according to the Treasury Department, a move that could save the struggling automaker from having to file for bankruptcy later this week.
Nearly three-quarters, or 72%, of consumers say they would buy an American-made car or truck despite GM's and Chrysler's woes, according to a new survey.
With bankruptcy looming at General Motors and Chrysler LLC, both troubled automakers have announced new moves to try and avoid that fate.
For the average American, this recession is scary enough.
The United Auto Workers announced Sunday that it has reached a tentative agreement on concessions in its contract with Chrysler LLC - a key step in final efforts to help the automaker avoid bankruptcy.
A stock rally that hit some potholes last week is likely to face more substantial roadblocks in the week ahead.
Chrysler LLC faces the most difficult, and important, week in its 84-year history as the automaker tries to close three difficult deals in order to avoid bankruptcy.
The survival of Chrysler as an independent company is looking increasingly unlikely.
The U.S. Treasury has increased its offer to Chrysler's lenders in a bid to lower the automaker's debt ahead of its restructuring deadline, according to published reports.
Chrysler turned down additional government funding this month because executives at the troubled auto manufacturer could not agree to new government-mandated limits on executive pay, according to a source familiar with the matter.
A battery-powered 268-horsepower two-seat sports car is in line to become Chrysler LLC's first electric car, provided the carmaker lives to see another day.
Under fire for poor quality, Chrysler is unveiling the first vehicle on which its current owner, Cerberus Capital Management, has had a major design influence.
There's been a lot of talk about the restructuring that needs to be done to make General Motors and Chrysler more competitive for the long haul.
The Obama administration has made it clear: In order to get the billions of dollars of federal money that Chrysler and General Motors need to survive, they'll need to build and sell more fuel efficient vehicles.
It's easy to think that Chrysler LLC is no longer too big to fail.
U.S. auto sales tumbled sharply in March, although officials with some of the companies said they hope the worst of the downturn is behind them.
In Detroit, the unthinkable -- an automaker bankruptcy -- has become very thinkable.
The Obama administration gave General Motors and Chrysler LLC failing grades Monday for their turnaround efforts and promised a sweeping overhaul of the troubled companies. The government plans to give the automakers more money, but it is also holding out the threat of a "structured bankruptcy." The federal government will provide operating funds for both automakers for several weeks, during which time the companies will have to undergo significant restructuring, administration officials said late Sunday night.
Is it safe to buy a new car from General Motors or Chrysler right now? President Obama says it is and he is putting money up to guarantee it.
The Obama administration is giving General Motors 60 days worth of financing for restructuring, according to senior administration officials.
General Motors and Chrysler LLC have about a week or less before they find out if they'll get the additional help they need from taxpayers, creditors and unions to avoid bankruptcy.
The Obama administration's top auto advisors were in the Detroit area Monday to meet with officials from General Motors and Chrysler, test drive a new electric car and try to chart a course for the industry's rescue.
The Obama administration may quickly find there is no easy fix for Detroit's many woes.
There was good news and bad news in the recent filings Chrysler and General Motors made with the federal officials overseeing their multibillion-dollar rescue.
Federal loans kept General Motors and Chrysler LLC out of bankruptcy in December.
Even if GM and Chrysler survive, they will be lesser players on the world stage
General Motors and Chrysler LLC said Tuesday they could need an additional $21.6 billion in federal loans between them because of worsening demand for their cars and trucks.
General Motors and Chrysler LLC will present their latest plans to the federal government Tuesday about how they will survive for the long-term.
Tuesday is D-day for the domestic auto industry. That's when General Motors and Chrysler must tell the government how they are going to successfully compete in the future as a condition of receiving federal aid.
On Tuesday, General Motors and Chrysler LLC have to submit plans to the government that show how they plan to turnaround their troubled companies. It won't be an easy task.
Just days before Chrysler LLC is supposed to show the government it can become a healthy company, the automaker has been scrambling to get dealers to order more cars.
Depression-era conditions in the auto industry means lots of assets for sale. More brands may change hands than at any time since the late 1980s. Trouble is, nobody seems to have the interest - or the equity - to make a deal.
Chrysler LLC is offering buyouts to all of its remaining U.S. hourly workers in its latest effort to cut costs and provide an exit for workers who are increasingly nervous about staying with the troubled automaker.
Chrysler LLC, which suffered a 30% drop in sales last year, announced a massive new incentive program to move vehicles off dealers' lots.
For Chrysler, the big benefit from its new alliance with Fiat might be public perception: The automaker, under pressure by the U.S. government to restructure, is taking action to help itself.
General Motors and Chrysler LLC have four weeks to win deep concessions from unions and creditors to prove they are viable, or they risk losing the $17.4 billion in government loans that are keeping them from bankruptcy.
At the 2009 Detroit Auto Show, Chrysler, Mercedes-Benz, Toyota and MINI showed the world what electric vehicles of the future will look like. And the future of driving looks fun.
The Treasury Department, expanding its bailout of Detroit, announced Friday that it will loan Chrysler Financial $1.5 billion, opening the way for Chrysler to offer buyers interest-free loans to revive slumping sales.
General Motors got the first $4 billion of a series of emergency loans from the U.S. Treasury Wednesday, but fellow struggling automaker Chrysler was still waiting as the new year rapidly approached.
General Motors and Chrysler LLC are finally getting the money they need to avoid an imminent collapse. But will the bailout actually get them back on the road to profits?
A temporary plant shutdown gives an automaker the chance to stop making cars and sell off the ones that are still sitting around. But in Chrysler's case, the benefit comes from the money it saves on day-to-day costs.
One of the first signs that a company is in trouble is the departure of high-ranking executives. Some get pushed out because they are not doing their job; other hit the street in search of greener pastures.
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