Archive | Auto Industry News

GM Repays $1.2B of U.S., Canadian Government Loans

General Motors Co. says it has repaid $1 billion of its loans to the U.S. government and $192 million to the Canadian government, reported The Associated Press. The automaker says it followed through on a commitment to begin repaying the loans by the end of ... Read More » Tags:

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UAW Leaders Nominate New President

DEARBORN, Mich. — United Auto Workers leaders on Wednesday nominated top Ford Motor Co. negotiator Bob King to be the union's next president, saying King is the right person to lead the union as it emerges from a tumultuous year that saw painful contract concessions ... Read More » Tags:

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Administration Unveils U.S. Manufacturing Plan

WASHINGTON - The Obama administration will announce a push today for a $5-billion boost to a tax credit for green manufacturing, along with a seven-point plan to slow job losses at U.S. manufacturers, reported the Detroit Free Press. The plans come as Vice President Joe ... Read More » Tags:

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TransUnion Forecasts Auto Delinquencies to Fall, then Rise in 2010

CHICAGO — The national auto loan delinquency rate will increase approximately 7 percent at the end of 2010 to 0.92 percent, up from an expected 0.86 percent at the conclusion of 2009, according to TransUnion’s annual auto loan forecast. Only one state - California - ... Read More » Tags: ,

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GM's Whitacre: Salary Cap Imposed by U.S. Treasury Complicates Search for New CEO

DETROIT - General Motors Chairman and CEO Ed Whitacre Jr. confirmed what many where thinking: Pay restrictions put in place by the company's largest shareholder, the federal government, "absolutely" make finding a top hire difficult, reported The Detroit News. As Reuters reported earlier this month, ... Read More » Tags:

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Ford Reinstates Benefits for Salaried Employees

DETROIT — Thousands of Ford Motor Co.'s U.S. salaried employees have been notified that merit pay increases, tuition reimbursement and 401(k) contributions are slated to be offered again next year, reported The Associated Press. Ford had cut the benefits as it careened through three years ... Read More » Tags: ,

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