Taxpayers Only Lost $9.26 Billion On Auto Rescue Which Is Actually Good

This is The Morning Shift, our one-stop daily roundup of all the auto news that's actually important — all in one place every weekday morning. Or, you could spend all day waiting for other sites to parse it out to you one story at a time. Isn't your time more important? » 12/30/14 9:43am 12/30/14 9:43am

Spyker Files For Bankruptcy

Spyker, the Dutch builder of gorgeous mid-engined supercars, just filed for the Dutch equivalent of Chapter 11 financial restructuring. In layman's terms, they just filed for bankruptcy. » 12/02/14 2:56pm 12/02/14 2:56pm

Volvo Has A Plan To Bring Itself Back From Zombie State In The U.S.

Ever since Volvo found itself sloughed off from Ford in the wake of the Carpocalypse, it was adrift among the heaving seas of the global auto market. Rescued by China's Geely, it just dusted itself off and is now preparing itself for a US comeback, announcing big investments and an all-new product line. » 11/19/14 2:35pm 11/19/14 2:35pm

That Zero Hedge Article On Unsold Cars Is Bullshit

I usually enjoy reading Zero Hedge because the insights are often interesting and I think pessimism is an underrated virtue these days. However, this guest article on unsold cars is so demonstrably false I had to take a break from my Sunday morning to dispute it. » 5/18/14 10:47am 5/18/14 10:47am

Either New Cars Are Getting Less Reliable Or Olds Are Just Cranky

Increased complexity always frightens car enthusiasts, thinking at the newest crop of tech-heavy cars may be much less dependable in the long-term than their predecessors. A new JD Power survey might justify that fear. » 2/17/14 2:00pm 2/17/14 2:00pm

The Catch 22 That I Think Prevented Taxpayers From Recouping GM Money

This is The Morning Shift, our one-stop daily roundup of all the auto news that's actually important — all in one place at 9:30 AM. Or, you could spend all day waiting for other sites to parse it out to you one story at a time. Isn't your time more important? » 12/16/13 9:30am 12/16/13 9:30am

The U.S. Government Just Sold All Its Shares Of General Motors

Government Motors is no more. Five years after the first round of bailouts of two of the three American automakers, the U.S. Treasury Department this afternoon sold off its last shares of General Motors. » 12/09/13 4:49pm 12/09/13 4:49pm

The Government Will Actually Make Money On Bailout, No Thanks To GM

This is The Morning Shift, our one-stop daily roundup of all the auto news that's actually important — all in one place at 9:30 AM. Or, you could spend all day waiting for other sites to parse it out to you one story at a time. Isn't your time more important? » 11/22/13 9:30am 11/22/13 9:30am

Taxpayers Spent $1.4 Million For Every Cash For Clunkers Job Created

Say, remember a few years ago when the government was giving people money to ditch their old car in exchange for something shiny and new? It saved the American car industry and fixed the environment, right? According to new report by the Brookings Institution think tank in D.C., the answer is "kinda, but not really." » 11/01/13 1:40pm 11/01/13 1:40pm

Did The CEO Obama Made Resign Actually Save GM?

This is The Morning Shift, our one-stop daily roundup of all the auto news that's actually important — all in one place at 9:30 AM. Or, you could spend all day waiting for other sites to parse it out to you one story at a time. Isn't your time more important? » 10/30/13 9:15am 10/30/13 9:15am

GM Knew Pontiac Was On The Ropes Before The Feds Ordered It Killed

Over the weekend, former General Motors Vice Chairman Bob Lutz dropped a bombshell on car enthusiasts and policy wonks when he revealed for the first time that the federal government told GM to drop Pontiac or they wouldn't get a bailout. Enthusiasts may balk, but this was the common sense idea — and even GM knew it. » 10/29/13 2:50pm 10/29/13 2:50pm

Feds Told GM To Drop Pontiac Or No Bailout, Ex-GM Exec Says

When General Motors shut down Pontiac, it left a lot of enthusiasts wondering why. It was primed with a lineup of powerful, rear-wheel drive models, and seemed like it had a bright future ahead of it. It turns out that GM killed it on government orders, according to former GM Vice Chairman Bob Lutz. » 10/26/13 4:54pm 10/26/13 4:54pm

Gumpert Goes Bust With Bankruptcy

Gumpert, the German maker of insane road racers with a flair for aggressive design, is no more. With the passing of Wiesmann last week, this is the second German automotive death in just the month of August. » 8/31/13 11:00am 8/31/13 11:00am

GM Sponsors ‘Free Enterprise’ As It Hopes You'll Forget Bailout

Will General Motors ever live down the bailout? That's the biggest question that surfaces when you consider the National Legal and Policy Center's campaign against a GM-sponsored "free enterprise" tour put together by the U.S. Chamber of Commerce. » 7/01/13 3:02pm 7/01/13 3:02pm

Bailed Out GM Executives Got 'Excessive Pay' According To Watchdog

The government auditors responsible for monitoring the Trouble Asset Relief Program (i.e. TARP) say executives at three companies received pay that was "excessive" given the guidelines outlined in the program, including employees of GM and Ally (formerly GMAC). » 1/28/13 4:00pm 1/28/13 4:00pm

Surprise! 'Cash For Clunkers' Was Really Bad For The Environment

Remember "Cash for Clunkers," that program implemented in 2009 where the federal government was giving people money to buy shiny, fuel-efficient new cars if they traded in their old gas-guzzling clunkers? It was supposed to be a win-win situation for both the environment and America's struggling economy. » 1/06/13 1:00pm 1/06/13 1:00pm

You Too Can Own Spyker Founder Victor Muller's 9-5 Aero Or Other Crazy…

Even though we keep hearing of rumors you'll be able to buy a new Saab 9-3 sometime next year in some part of the world, and an EV coming after that, there's still the matter of closing out the Spyker Era of the old Trollhattan firm. » 12/02/12 3:00pm 12/02/12 3:00pm

The $82 Billion Jump Shot: How The Auto Bailout Could Swing The…

Back in 2009, Barack Obama made a gutsy move at the beginning of his presidency. He used his political capital on an $82 billion gamble to put General Motors and Chrysler through bankruptcy, and deal with a bunch of collateral issues surrounding the auto industry. » 10/23/12 3:00pm 10/23/12 3:00pm

GM Recalls 426,240 Cars Because They May Roll Down Hills Uncontrollably

GM is recalling 426,240 midsize sedans because the shift cable might break. That means that when you put the car into Park, it might actually end up rolling down a hill. » 9/21/12 11:15am 9/21/12 11:15am

Everyone In California Is Basically Sharing The Same Used Car

Selling used cars is a pretty good business: you buy crappy old cars at rock-bottom prices from desperate people; sell these crappy cars to desperate people at inflated prices; repo the cars when the desperate people run out of money; and then sell the same cars all over again. » 8/15/12 1:40pm 8/15/12 1:40pm