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Chrysler's main creditors reach deal with U.S.; others hold out

The U.S. Treasury Department has reached a tentative debt-reduction agreement with Chrysler's main creditors but still must get other lenders to sign on for the deal to take effect, three people with knowledge of the talks said today. The accord with JPMorgan Chase, Citigroup, Goldman Sachs and Morgan Stanley would reduce Chrysler's $6.9 billion debt to $2 billion, which would be repaid by Chrysler in cash, they said.

Silver linings: Saab and Mitsubishi see sales grow in May

Despite the company’s financial troubles, Saab sales are steadily increasing in 2011, with April and May numbers up 190 percent and 121 percent, respectively, from the same months last year. The Swedish automaker reported 385 units sold this May, versus 155 the year prior. So far this year, Saab has sold 2,765 vehicles, compared with 954 at the same point last year.

Help American Dreaming movie tell the story of the postwar era's car designers [w/video]

The makers of a new movie charting America's postwar car designers are seeking donations to make the project become reality. The film's makers are hoping to raise $100,000 to make American Dreaming, a documentary movie that aims to tell the story of the lives of the men and women who worked in automotive design between 1948 and 1973. The film will be produced by Detroit artist Robert Edwards, former Detroiter Greg Salustro, and cinematographer Jim Toscano, and will include interviews with the men and women who worked in automotive design studios at the time.