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Chrysler Bankrupt – Fiat the great hope

Chrysler go bankrupt - Fiat to the rescue [ad#ad-1] So the inevitable has happened. The first of the big three to go bust is Chrysler, now officially in Chapter 11 Bankruptcy. But it’s not all doom and gloom.

New products to drive Porsche's sales goals

Porsche may add an entry-level sports car as part of a plan to double global sales to 200,000 units by 2018. The new four-cylinder sports car would be in addition to a small SUV and a plug-in hybrid supercar recently approved for production. Matthias Mueller, the former Volkswagen executive who took over as Porsche CEO in October, says a new product strategy will be completed by the end of March.

General Motors CEO Rick Wagoner to quit, reports say

General Motors CEO Rick Wagoner is about to resign after eight years as the Obama administration prepares to decide on the automaker's request for additional government rescue loans, two people familiar with the matter said. A senior Obama administration official told NBC's John Yang that Wagoner, 56, was asked to step down by the White House. The automaker, which has lost about $82 billion since 2004, awaits word Monday from President Obama on a request for as much as $16.6 billion in additional U.S.