Archive for August, 2008

Report: Delphi liquidation looms large

Friday, August 29th, 2008

Bankrupt U.S. auto parts maker Delphi may end up being liquidated, with some U.S. plants being taken over by its former parent General Motors, the Wall Street Journal said, citing people involved in the bankruptcy process.

Volkswagen overtakes Ford in car sales

Friday, August 29th, 2008

FRANKFURT (Reuters) - Volkswagen overtook Ford in the first half of the year as the world's third-largest carmaker by vehicle sales, VW said in a statement on Thursday, in yet another sign of Detroit's waning influence.

Lutz: Feds should underwrite Detroit 3 loans

Friday, August 29th, 2008

CHICAGO -- General Motors Vice Chairman Bob Lutz said the U.S. government should be willing to underwrite loans to the Detroit 3.

Polytec buys Peguform, gains access to China

Friday, August 29th, 2008

Austrian door panel and headliner maker Polytec announced Friday it plans to buy German rival Peguform from U.S. private equity fund Cerberus Capital Management.

GM recalls 857,735 vehicles for electrical problems

Friday, August 29th, 2008

DETROIT (Reuters) - General Motors Corp. is recalling 857,735 vehicles equipped with heated windshield wiper fluid system for a potential short circuit problem, according to federal safety regulators.