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Markets & Finance
Hybrid Vehicle Sales Drop 42.7 Percent in December
Lower gas prices have cut into high-mileage gas-electric hybrid vehicles toward the end of the year.
Auto Sales Figures Plummet Despite Rising Incentives
06 January, 2009 11:12:00
Sales of new cars and trucks plummeted by more than a third in December, a decline that hit all of the major automakers, both foreign and domestic, and capped the industry's worst year since 1992.
Chrysler Gets $4 Billion Federal Loan
03 January, 2009 09:04:00
Chrysler received its $4 billion low-interest federal loan Friday from the United States Government, helping the auto maker to pay suppliers, payroll and other operating expenses.
Ener1 Applies for $480 Million in Federal Loan Funds
02 January, 2009 01:59:00
Lithium-ion battery manufacturer Ener1, Inc. has applied for $480 million in low-interest loans under a new federal program to spur development of the next generation of U.S. fuel-efficient vehicles.
GM Gets First $4 Billion Infusion, Chrysler Waits
01 January, 2009 02:18:00
The U.S. government on Wednesday paid out the first $4 billion of a series of emergency loans, but a parallel rescue payment for Chrysler is still on hold.
Trucks, SUVs to Outsell Cars This Month
30 December, 2008 05:18:00
After ten months of flagging sales, low gas prices and fat incentives are making many Americans hungry for an SUV.
Treasury Provides $6 billion in Aid to GMAC
30 December, 2008 09:25:00
The U.S. Treasury Department announced it will pump $6 billion into GMAC Financial Services as part of a broader program to assist the domestic automotive industry in becoming financially viable.
BYD Delays Non-Chinese Market Hybrid Car Sales to 2011
26 December, 2008 02:18:00
BYD has pushed back the expected release date for its plug-in hybrid vehicles outside of China in 2011 rather than 2010.
GMAC Gets Federal Bailout Money
25 December, 2008 08:20:00
The Federal Reserve has opened the door for GMAC to get federal bailout money by granting the troubled General Motors finance arm status as a bank holding company, after owners General Motors and Cerberus agreed to cut their stakes.
Toyota to Make Its First Loss in 71 Years
22 December, 2008 10:08:00
Toyota Motor Corp. slashed its annual profit, revenue and unit sales forecasts on Monday, predicting its first annual loss in 71 years due to plummeting sales and a surge in the value of the soaring yen.