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A combination of several years of declining automobile sales and scarce availability of credit led to a more widespread crisis in the United States auto industry in the years of 2008 and 2009. Following dramatic drops in automobile sales throughout 2008, two of the " Big Three " U.S. automakers – General Motors (GM), and Chrysler ...
The U.S. auto industry was profitable in every year since 1955, except those years following U.S. recessions and involvement in wars. U.S. auto industry profits suffered from 1971 to 1973 during the Vietnam War, during the recession in the late 1970s which impacted auto industry profits from 1981 to 1983, during and after the Gulf War when ...
Until December 10, 2013, the U. S. Treasury recovered $39 billion from selling its GM stake. The final direct cost to the Treasury of the GM bailout was $11 [94]-12 billion ($10.5 billion for General Motors and $1.5 billion for former GM financing GMAC, now known as Ally). [95] Local tax incentives amounted to $1.7 billion, most of them in ...
General Motors is cutting 10,000 more jobs, paring the ranks of its white-collar workers. In addition, most of its remaining salaried workers will have their pay reduced beginning May 1. Could ...
AJ Mast/APFiat and Chrysler CEO Sergio Marchionne MILAN and NEW YORK -- Italian carmaker Fiat has brought in a veteran of the 2009 U.S. auto sector bailout in a bid to break the deadlock in talks ...
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The Presidential Task Force on the Auto Industry was an ad hoc group of United States cabinet-level and other officials that was formed by President Barack Obama to deal with the financial bailout of automakers Chrysler and General Motors.
Just how close was Ford to going out of business? Closer than you think says Detroit News journalist Bryce Hoffman, author of "American Icon: Alan Mulally and the Fight to Save Ford Motor Company ...