Automotive wheel maker Hayes Lemmerz International Inc. exited Chapter 11 bankruptcy after slashing its debt and costs to better match declines in auto production.
Sweden said a last-ditch bid by Spyker for Saab offered a thread of hope the brand would survive, as talks between the Dutch luxury carmaker and GM triggered an extended deadline. Spyker lodged a new offer to buy Saab from GM on Sunday, with a 5 p.m.
Ford Motor Co. is offering its 41,000 U.S. factory workers buyouts and early retirements in a bid to reduce payroll costs as it aims to return to profit in 2011.
Auto dealer George Gorno, a former member of the Ford National Dealer Council and a past director of the National Automobile Dealers Association, died today at 61.
A push by U.S. automakers to build more fuel-efficient vehicles is playing to a strength of Canada's auto parts makers and positions them to pick up market share as the industry emerges from recession.
Pat Schiavone, Ford Motor Co.'s truck design chief, is leaving the company for a job outside the industry. Ford spokeswoman Marcey Evans today confirmed Schiavone's resignation, effective Jan. 4. She would not identify Schiavone's new company.
General Motors Co. appointed Chris Liddell, Microsoft Corp.'s finance chief, as vice chairman and CFO, replacing Ray Young. Liddell, 51, has served as Microsoft's CFO since May 2005.
Volkswagen is unlikely to make further strategic deals in the near future, CEO Martin Winterkorn said after the company's recent spree which included taking a stake in Suzuki. He also said he expects VW to win further market share in 2010.
