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Ford CEO Stands Behind Decision Not to Take Federal Loans

Ford Motor Co.'s decision not to take loans from the federal government means the company has less cash to burn and more liabilities than it's Detroit competitors, according to CEO Alan Mullally. But he said the benefit "far outweighs the disadvantages," reported the Detroit Free ... Read More » Tags:

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CUDL to Represent 750 Credit Union Partners at 2010 NADA Convention

ONTARIO, Calif. — CUDL, which administers the nation’s largest auto lending network for credit unions, will represent its more than 750 partnering credit unions at the 2010 National Automobile Dealers Association (NADA) Convention. The convention takes place Feb. 13-15, at the Orange County Convention Center ... Read More » Tags: , ,

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CNW Predicts Strong Spring/Summer Sales, Especially for Used Market

CNW Marketing Research is anticipating a 9 percent increase in used-car sales for January, and a strong spring/summer selling season based on current floor-traffic data. Based on deliveries during the first 15 days of the month, the Bandon, Ore.-based market research firm expects the month ... Read More » Tags: ,

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GM's Whitacre Strives to Create Stability

DETROIT - General Motors Co. Chairman Ed Whitacre said his appointment to lead the automaker indefinitely as CEO will help provide stability to a team that's now “set at the top,” reported Automotive News. Whitacre overhauled GM's top executive structure when he took over as ... Read More » Tags:

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Auto Task Force: Dealer Arbitration, Loan Repayments Won’t Jeopardize GM

WASHINGTON - The Obama administration says General Motors Co. is in better financial shape than the federal government anticipated when it arranged $50 billion in assistance last year, Automotive News reported. The automaker’s bottom line will not be jeopardized by dealer arbitrations that lead to ... Read More » Tags:

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Source: Ford to Add 1,200 Jobs in Chicago

Ford Motor Co. will add 1,200 jobs at its Chicago assembly plant later this year to build the new Explorer sport utility vehicle, a person briefed on the matter told The Associated Press. The company and Illinois Gov. Pat Quinn are scheduled to make the ... Read More » Tags:

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