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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.

Mitsubishi i MiEV Electric car launches in Japan

Mitsubishi i MiEV electric car launched in Japan at around £20,000 Until now, electric cars have been very much an oddity. The laughable G-Whiz and the Tesla Roadster are interesting in their own way, but unless you want to look like Noddy’s best friend (G-Whiz) or are happy to have a second-rate Lotus Elise at three times the price (Tesla), there wasn’t much to appeal to the normal car buyer. But it’s changing.

Cars, Harleys among items to be sold in dealer bankruptcy auction

Three cars, five Harley-Davidson motorcycles and five boats are among the items from bankrupt Minnesota car dealer Denny Hecker being auctioned off to raise money for creditors. The item list for the May 25 auction in New Germany, Minn., includes a 2004 Cadillac Escalade, a 2004 Mitsubishi Eclipse Spyder convertible and a 2002 Mitsubishi Montero SUV. This is the third sale of Hecker's possessions since last August to raise money for creditors.