Archive | Auto Industry News

Geely Says Volvo Talks Hit Snag

BEIJING — China's Zhejiang Geely Holding Group Co. Chairman Li Shufu said he continues to expect to complete Geely's effort to acquire Ford Motor Co.'s unprofitable Volvo unit but indicated the talks have hit a snag because of unspecified problems at Ford, The Wall Street ... Read More » Tags: , ,

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GMAC Will Be Saab's Preferred Lender

Spyker Cars N.V., which recently bought Saab Automobile from General Motors Co., has chosen GMAC Financial Services as the preferred lender for its 500 Saab dealers in North America and globally, Automotive News reported. GMAC's preferred lender agreement with Spyker takes effect immediately and calls ... Read More » Tags:

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GM Won't Seek GMAC Reunion

General Motors Co. won't try to regain control of former finance arm GMAC Financial Services, an idea the automaker had considered as a way to bolster sales and make itself more attractive to potential investors, two people familiar with the matter told The Wall Street ... Read More » Tags:

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Detroit 3 Raise Asian Currency Issues

WASHINGTON - The Detroit Three automakers on Wednesday urged Congress to take action to stop efforts by Japan and South Korea to shore up their currencies, The Detroit News reported. The automakers prodded Congress to "send a clear message to the governments of Japan and ... Read More » Tags:

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Ford Shares Hit 5-Year High as Moody’s Raises Rating

March 17 - Ford Motor Co. rose to a 5-year high in New York trading and its bonds gained after Moody’s Investors Service upgraded the automaker’s credit rating, reported Bloomberg. The company’s shares climbed 61 cents, or 4.5 percent, to $14.10 at 4:15 p.m. in ... Read More » Tags:

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GMAC has Raised $7.1 Billion Selling Securities, Bonds

GMAC Financial Services this week is raising nearly $1 billion selling retail auto loans as securities, Automotive News reported. The sale is one of a series of transactions indicating that GMAC has improved its access to capital in the past six months after having to ... Read More » Tags:

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