Obama administration proposes higher fines for vehicle safety violations
The administration of Obama is seeking considerably higher fines for violations of auto safety despite the vehicle manufacturers being able to quickly report defects to U.S. regulators... Read more
Auto industry pressing the Obama administration to reevaluate fuel economy standards
Before the rules become final, the Obama administration is being pressured by the auto industry to re-assess rules that may result to the U.S. fuel economy standards more than doubling by... Read more
President Obama announces initiative to develop new U.S. manufacturing jobs
President Barack Obama is making the government team up with universities and companies for the investment of at least $500 million in advanced technologies as part of an initiative that... Read more
GM’s Britta Gross contradicts Obama’s target date for electric vehicles
Britta Gross, General Motors’ director of global energy systems, said that she expects that there will be 1 million electric vehicles on U.S. roads by 2017 or 2018. This is later than... Read more
Electric vehicle grants are higher under Obama’s 2012 budget proposal
Under President Obama’s fiscal 2012 budget proposal, $200 million will go to federal grants for up to 30 communities that advance electric vehicle use through fleet purchases,... Read more
California board takes up issues with car firms on federal fuel economy standards
If the Obama administration seeks to negotiate an agreement by the fall, it will have to resolve certain conflicts raised as California regulators shot back at automakers on proposed... Read more
U.S. Congress passes estate-tax provision with 35% rate
The House has passed estate-tax legislation supported by the National Automobile Dealers Association. Expected to take into effect for 2011 and 2012, this estate-tax provision imposes a... Read more
Sales figures debunk rumor that US government favors GM, Chrysler over Ford
There has been speculation that the Obama administration would favor government-owned carmakers but this doesn’t appear to be the case at all. In fact, Ford Motor Co. sold the most cars... Read more
U.S. and Korea agree on automobile terms in free-trade deal
Ford Motor Co. and lawmakers rejoiced as the U.S. and South Korea finally agreed to change automobile provisions in a trade deal. They had previously agreed that the U.S. will end its... Read more
Obama administration buys almost a fourth of the hybrid cars made by Ford and GM
As consumer demand is declining, President Barack Obama's administration decided to accelerate federal purchases and has bought nearly a fourth of the Ford Motor Co. and General Motors... Read more
Report: Taxpayers were still at risk of losses on investments in GM and Chrysler
US Treasury Secretary Timothy Geithner recognizes that taxpayers remained at risk of losses on investments in General Motors Co. and Chrysler Group. However, he thinks that there's a... Read more
GM has no plans to request more government aid
Since the amount of financing provided to General Motors Co. was sufficient, it has no plans to request more government aid, CEO Fritz Henderson told the Washington Post last Wednesday.... Read more
Official: GM files for bankruptcy
It's official! General Motors filed for bankruptcy today, leaving 100 years of history behind and listing $82.29 billion in assets and $172.81 billion in debts. Of course, this is very... Read more
Barack Obama signs legislation for rejected GM and Chrysler dealers
President Barack Obama recently approved a law that would provide rejected dealers of General Motors Co. and Chrysler Group with access to neutral arbitration if they want to be... Read more
GM CEO Fritz Henderson’s annual salary is being cut by 25%
General Motors Co. CEO Fritz Henderson was singled out to be the top earner at General Motors Co. and as such will face pay reductions, along with 174 other executives at 7 companies that... Read more
At least 100 GM dealerships will be restored in the arbitration process
At least 100 of General Motors Co.'s dealerships are expected to be restored under the arbitration process mandated by a new federal law, according to GM chairman Ed Whitacre. He said... Read more
Obama administration wants fast-track IPO for General Motors
The Obama administration wants to hurry up its initial public offering (IPO) of General Motors Co. shares to reduce its majority stake in the automaker, according to Ron Bloom, the head... Read more
Rick Wagoner leaves GM at Obama’s request
It was recently reported that the chief executive officer and chairman of GM, Rick Wagoner, has resigned and has been replaced by Fritz Henderson, who was the company's president and... Read more
Obama administration surprised too by GM’s decision to scrap Opel sale
General Motors Co.'s decision not to go through with the sale of its Opel unit took even the Obama administration by surprise. In an interview with Reuters, Ron Bloom, the head of the US... Read more
GM and Chrysler to meet with dealer groups this Wednesday
After months of delay, the first auto dealer talks have been confirmed to begin on Sept. 30. A legislation proposal had been brought that would have reversed termination of 789 Chrysler... Read more
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