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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.

Renault working on 141mpg plug-in hybrid concept

Renault is working on a 141mpg plug-in hybrid concept car to be shown at the 2014 Paris Motor Show, according to Renault head of research, advanced studies and materials, Remi Bastien. Speaking to at Renault’s ‘Innovations’ event last year – showcasing the French manufacturer’s new technology that will underpin its next-generation models – Bastien revealed the new car will make its debut in 2014. On Bing: see pictures of Renaults Find out how much a used Renault costs on Auto Trader This means the ‘2l/100km’ concept car will likely make its first public appearance at Renault’s home Paris Motor Show in October, debuting experimental technology that could later filter down to other models in the Renault range.

Remember this day in GM history: The next century of automotive success starts now

President Obama's administration made history today with what some see as nothing short of government meddling in the affairs of big business. What I see is something else: I see the administration showing that it is serious and raising the level of concern from yellow to orange. Now there is a firm deadline and a message to bondholders, United Auto Worker union members and the American public: Do not be surprised if in the next 30 days--or even sooner-General Motors files for a controlled bankruptcy.