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Crunch watch Apr 09: the auto industry in crisis
Thu, 30 Apr 2009By Tim Pollard and Ben Pulman Motor Industry 30 April 2009 17:21 Welcome to CAR's news aggregator as we round up the seismic change in the auto industry. Top tip: news summaries are added from the top hour-by-hour Thursday 30 April 2009• It's official: president Barack Obama confirms this afternoon Chrysler will file for Chapter 11 bankruptcy protection as it strikes a patnership with Fiat (Automotive News, subscription required)• 'Over the past month, seemingly insurmountable obstacles have been overcome,' says Obama. 'Chrysler and Fiat have formed a partnership that has a strong chance of success' • Chrysler is filing for bankruptcy protection under Section 363(b) of Chapter 11 bankruptcy code – expected to last for 30-60 days (Detroit News)• Treasury to pay Chrysler $4.5 billion 'in exit financing'• Chrysler tipped to get new board of directors.
Chrysler and Nissan cancel vehicle-swapping deal
Wed, 26 Aug 2009Chrysler and Nissan are canceling their 2008 deals to build vehicles for each other, the automakers announced Wednesday afternoon. Chrysler was to provide Nissan with a full-sized truck, based on the Dodge Ram, starting in 2011. It would have been a replacement for the Nissan Titan.
Update: Hyundai releases statement on Calif. lawsuit
Tue, 10 Jul 2012UPDATE: Hyundai Motor America contacted Autoweek on Wednesday with a statement in regard to the case: Hyundai Motor America believes this case has no merit, as our advertising is accurate and in full compliance with applicable laws and regulations. In fact, we've reviewed our ads and think Consumer Watchdog and their client are dead wrong. A group called Consumer Watchdog announced that it is suing Hyundai on behalf of drivers who purchased 2011 and 2012 Elantras based on claims that Hyundai made in its advertising for the Elantra.