All Entries Tagged With: "bankruptcy"
Ford posts best June sales performance in down market
In a month of sandbagged auto sales, Ford was the clear winner. The Blue Oval posted a sales decline of “just” 10.7 percent in June, in a market that fell nearly 27.7 percent. It was by far the best showing of any major carmaker, helped by strong sales of its Fusion sedan and Escape crossover. [...]
New Chrysler Shielded from Old Product Liability
Chrysler’s bankruptcy will leave lots of people empty-handed. Among them are accident claimants who seek compensation when a faulty Chrysler vehicle causes injury or death. Under terms approved on June 1 by U.S. Bankruptcy Court Judge Arthur J. Gonzalez, the “new” Chrysler emerging from bankruptcy won’t be liable for product defect claims involving any cars [...]
Chrysler poised to close sale, exit Chapter 11
NEW YORK – Chrysler was a step closer to emerging from bankruptcy protection Wednesday, a day after opponents of the automaker’s planned partnership with Italy’s Fiat exhausted their appeals in an effort to halt the Obama administration-backed sale. Late on Tuesday, the Supreme Court cleared the way for the sale of the bulk of Chrysler [...]
GM says May U.S. sales best so far in 2009
DETROIT (Reuters) – General Motors Corp on Tuesday reported U.S. sales for May. Highlights: * says U.S. sales are down 29.6 percent in May. * says U.S. May sales total 191,875 vehicles * says U.S. May sales best monthly performance so far in 2009 * reports total truck sales (including crossovers) of 110,866, down 22 [...]
GM Files for Bankruptcy
GM’s Chapter 11 filing caps a decades-long slide, but it should emerge relatively quickly from court with lower labor and debt costs A once proud and dominant General Motors, which at its peak controlled half the American auto market, filed for bankruptcy court protection on June 1 in an historic act that will see federal [...]
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