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Ford to cut Australian manufacturing in 2016

Ford Motor Co., saddled with high costs, falling sales and financial losses, will close Australian car and engine assembly plants in October 2016 after almost nine decades of manufacturing in the country. Ford, the smallest of the country's three manufacturers after Toyota Motor Corp. and General Motors, will shut its assembly plant in Broadmeadows in northern Melbourne and an engine plant in Geelong to the west of the city, Ford Australia CEO Bob Graziano said.

Chrysler says it needs another $2 billion in aid

In submitting its viability plan to the federal government on Tuesday, Chrysler asked for an additional $2 billion beyond the $7 billion in loans it sought late last year and outlined further steps to cut costs. Chrysler said it will reduce fixed costs by an additional $700 million, cut 100,000 more units of production capacity, discontinue three more model lines and sell $300 million more in assets.

Chevy Volt production stopped as sales falter

Chevy Volt production halted General Motors has announced that they’re halting production of the range-extender Chevrolet Volt as sales falter. The Chevy Volt is General Motors’ car of the future (and sister car to the Vauxhall Ampera) with a range extender engine and the ability to run on a plug-in charge. And GM proclaimed it as the future of the company and did everything they could to keep costs in check.