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On December 19, George W. Bush announced that he had approved the bailout plan, which would give loans of $17.4 billion to U.S. automakers GM and Chrysler, stating that under present economic conditions, "allowing the U.S. auto industry to collapse is not a responsible course of action."
Hyundai-Kia continued its rapid success in 2009, when only a year after overtaking Honda, it surpassed Ford Motor as the world's 4th largest automaker. [26] Hyundai-Kia's continued success was unusual at a time when most automakers saw their sales falling sharply, with leading automaker GM even filing for bankruptcy. Hyundai-Kia took ...
Based on an assessment that automobile manufacturing was a critical sector of the economy providing 3 to 4 million jobs for Americans, that liquidation was imminent for two of the three major U.S. automakers, and that the break ups would devastate the U.S. economy, the U.S. government became involved in the day-to-day management decisions of ...
After adding an economic crisis to a financially unhealthy automaker, General Motors looked ready for collapse near the beginning of 2009. In response to the potential damage GM's collapse would ...
Automakers are fearful of being tagged as seeking a new government bailout so soon after the 2009 government-funded auto restructurings. Detroit has not sought industry-specific assistance ...
Ukraine, it turns out, supplies a lot of wiring harnesses, and now the launch of the Europe-market VW ID.5 EV (pictured above) is delayed because of a shortage.
Most car production in Ukraine now involves assembly of European, Korean and Chinese brands. In April 2018 the Ukrainian carmakers association UkrAutoProm stated that the automotive industry in Ukraine worked at only 2% of their capacity, while the output of motor vehicles was nearly 98% less than that in March 2008. [1]
There was global alarm when Russian forces seized the largest nuclear power plant in Europe after a building at the complex in Ukraine was set ablaze. Ukraine conflict drives European stocks to 1 ...