Automakers News

Mirafiori - Italian carmaker Fiat plans to shut down operations this summer for eight days in an attempt to save money. As a result, the company's 5,400 employees at its Mirafiori, Italy headquarters will see some unexpected time off work.

March was tagged as a critical month in the nation’s economic recovery because General Motors and Chrysler were due to report back on their finances after receipt of federal funds from the Troubled Asset Relief Program (TARP).

The deadline is now for General Motors and Chrysler to present their reorganization plans to the government so they can keep the billions loaned to them in December, but it doesn't look like they can meet them. Experts are saying, 'Let them go bankrupt'.

After two weeks of posturing and pontificating, Republicans in the Senate balked at providing Detroit automakers the assistance they indicated is needed to stay afloat in the first quarter of next year.

With the agreement of the White House and the Democrats, a deal has been more or less made. Ford says it might need the money in future. Chrysler and General Motors say they need it now. So does the rest of the country, but what the hell?

Just one week after being tarred and feathered on Capitol Hill, the CEO’s of the nation’s three large automobile manufacturers appear to have convinced Congressional leaders of their need for federal aid to stay afloat.

Canada’s auto manufacturing sector is expected lose money for the third consecutive year in 2008, with losses ballooning to $1.7 billion this year, according to the Canadian Conference Board.

At this time of economic crisis, the European Parliament must provide the auto industry with funds which it could use in research and manufacturing of clean cars which would help EU satisfy its 2020 emissions goals.