TD Bank Buys Chrysler Financial From Cerberus

Toronto-based TD Bank will purchase Chrysler Financial for $6.3 billion. Despite being named Chrysler Financial, the company is no longer owned by the automaker, but held by former owner and destroyer of worlds — Cerberus. If you do the math, Cerberus paid $7.4 billion for 80% of Chrysler, then easily shed it in the… » 12/21/10 9:30am 12/21/10 9:30am

What The New York Times Op-Ed Page Doesn't Know About Cars

Earlier this week, an automotive blogger took to the pages of the New York Times to argue that the Detroit bailout didn't work. Why can't the New York Times op-ed page find writers who know anything about the auto industry? » 12/17/10 1:00pm 12/17/10 1:00pm

Ford, BMW, Toyota Took Secret Government Money

In the depths of the financial collapse, the U.S. Federal Reserve pumped $3.3 trillion into keeping credit moving through the economy. It eventually lent $57.9 billion to the auto industry — including $26.8 billion to Ford, Toyota and BMW. » 12/02/10 4:00pm 12/02/10 4:00pm

Why Is GM Hiding Its Old Logo?

The "new" General Motors gets listed on the New York Stock Exchange in just 30 minutes. For now, watch GM get it's name plastered on the outside of the NYSE. By the way, where's the "old" big blue logo? » 11/18/10 9:00am 11/18/10 9:00am

Honda Civic Is Dead In Japan

Japanese people are too cool for the Honda Civic, preferring the more compact and lifestyle-appropriate Fit. Of course, this is also a country where the Minidisc player is wildly popular, so take their judgment with a grain of wasabi. [WSJ] » 11/16/10 12:30pm 11/16/10 12:30pm

Pontiac, A Eulogy: Excitement No More

Pontiac was officially declared dead this weekend at 84 from complications due to GM ownership. In honor of this sad occasion, we're re-running our Pontiac eulogy from 2009. — Ed. . » 11/01/10 6:00pm 11/01/10 6:00pm

Fired GM CEO Paid $59K Per Month For 20 Hours Of Work

Fritz Henderson, the GM CEO fired by a government-appointed board of directors last December, has been paid $59,090 a month for the last six months to consult the company five hours per week. » 10/06/10 1:30pm 10/06/10 1:30pm

Price of Rescuing U.S. Automakers Marked Down To $17 Billion

The Treasury says the estimated cost of saving General Motors, Chrysler and Ally Bank née GMAC shrunk to $17 billion, an $11.2 billion improvement from a year ago. Thanks, Ally Bank! [DetNews] » 10/05/10 5:30pm 10/05/10 5:30pm

Sandusky, Ohio: From Ball Bearings To Roller Coasters

"At one time we had a Ford plant, a GM plant, and a Chrysler plant here in Sandusky, Ohio." Now there's Cedar Point. Less plants, less fun? [ChangingGears] » 9/21/10 9:20am 9/21/10 9:20am

Republicans Applaud Jobs From GM Bailout They Opposed

Happy days came back Friday to Spring Hill, Tenn., when General Motors announced it would rehire 483 laid-off workers to build four-cylinder engines. On hand to cheer the news: Three Republican lawmakers who opposed the bailout that saved GM. » 9/18/10 9:30am 9/18/10 9:30am

America's Abandoned Auto Dealerships

Last week we solved the mystery behind an abandoned Ohio car dealership caught on Flickr. Our story set off a flurry of responses from readers about similarly abandoned sales relics. Here's a ghostly gallery of America's lost car dealerships. » 9/15/10 11:00am 9/15/10 11:00am

Want To Look Cool In A Recession? Buy An Old Car

If you can afford a fancy new car, go ahead and buy one. If you're tight on funds, but still want to look awesome, purchase a sweet old car and instead of thrifty you can be thriftastic. » 9/03/10 2:30pm 9/03/10 2:30pm

Why GM's IPO Sales Pitch Begins The Day After The Election

General Motors won't start the hard sell of its shares to investors, called a "road show," until Nov. 3, one day after mid-term elections, and the actual IPO now expected Nov. 18. Why? Politics, of course. » 9/02/10 10:00am 9/02/10 10:00am

Inside The UAW's Opulent Lakeside Resort

Earlier this year, the United Auto Workers decided to sell its money-losing 1,000-acre resort and golf course. Now, while GM files for its IPO, new UAW leadership is pulling the resort off the market. Here's a look inside. » 8/19/10 12:40pm 8/19/10 12:40pm

New UAW President: Keep Your Nonunion Cars Off My Lawn

UAW President Bob King wrote a two-page letter to a reporter explaining why he wasn't allowed to park his Toyota Camry at a UAW hall lot (or any union property): Toyota hates the First Amendment. [KCBJ, Detroit News] » 8/19/10 10:30am 8/19/10 10:30am

Detroit For Sale, Some Assembly Required

The U.S. auto industry may have climbed back from the Carpocalypse, but it's still liquidating much of its old pieces, from forklifts to entire factories. David Traver Adolphus of Hemmings Blog shows what's on the block. » 8/18/10 3:00pm 8/18/10 3:00pm

How A Blogger Helped Save A Car Company

Saab was the smallest of GM's troubled brands, but the only one to survive, due largely to the incredible support coordinated by one enthusiast on a tiny Australian island 10,000 miles from the carmaker's Swedish headquarters. Here's his story. » 8/09/10 2:30pm 8/09/10 2:30pm