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Sep 20, 2010

UAW aims to share in auto turnaround profit

DETROIT (Reuters) – The United Auto Workers union will aim to ensure that its members share in General Motors GM.UL, Ford Motor Co (F.N: Quote, Profile, Research, Stock Buzz) and Chrysler profits in contract talks next year, President Bob King said on Monday.

The union wants the workers to share in the turnarounds at the U.S. automakers in a way that does not put the companies “back in a cycle of uncompetitiveness” that left them struggling in recent years, King said.

Sep 20, 2010

UAW chief to meet Fiat CEO and Italian suppliers

DETROIT (Reuters) – Senior officials from the United Auto Workers union will travel to Italy next week for a meeting with Fiat SpA (FIA.MI: Quote, Profile, Research, Stock Buzz) Chief Executive Sergio Marchionne and a pitch to bring jobs to the United States for its suppliers.

UAW President Bob King will tour Fiat plants for a look at the manufacturing system the Italian automaker has begun to introduce at plants operated by its U.S. affiliate Chrysler, King told Reuters in an interview on Monday.

Sep 17, 2010

GM enters political fray with foreign investors

DETROIT/NEW YORK/BEIJING, Sept 17 (Reuters) – General
Motors Co [GM.UL] is moving into a new and more politically
charged phase of preparations for its landmark initial public
offering.

China’s top automaker, SAIC Motor Corp (600104.SS: Quote, Profile, Research, Stock Buzz), has
reached out to GM to explore the prospect of taking a stake in
the U.S. automaker when it goes public this fall, four people
with knowledge of the matter said.

Sep 16, 2010

GM bailout payback to take several years: CEO

DETROIT (Reuters) – General Motors Co GM.UL is determined to pay back taxpayers as quickly as possible, but the process could take “several years,” GM Chief Executive Dan Akerson said on Thursday.

Paying back the government all at once would be “unrealistic,” Akerson said in his first meeting with reporters since becoming CEO two weeks ago.

Sep 14, 2010

Toyota readies electric car offensive

DETROIT (Reuters) – Toyota Motor Corp will offer a plug-in version of its Prius positioned to be the cheapest green car of its kind by 2012 and could have two electric cars in the U.S. market by that time, executives said on Monday.

In addition, Toyota plans to add six hybrid vehicles to its global lineup by 2012, an increase that would give it a total of 20 models that use batteries and regenerative braking to extend fuel economy like its market-leading Prius.

Sep 14, 2010

Toyota says discovers, fixes bug in crash readers

DETROIT, Sept 13 (Reuters) – Toyota Motor Corp (7203.T: Quote, Profile, Research, Stock Buzz) has
discovered and fixed a bug in the software that reads data from
crash recorders and informed U.S. safety regulators of the
problem in June, executives said on Monday.

The disclosure comes as the world’s largest automaker
battles to distance itself from a series of recalls this year
that damaged its reputation for quality and raised concern
about reports of unintended acceleration in its vehicles.

Sep 2, 2010

Auto sales post weakest August since 1983

DETROIT (Reuters) – Automakers posted their weakest U.S. August sales in 27 years, underscoring uncertainty about the strength of the recovery in the world’s largest economy.

Sales dropped 21 percent from the government incentive-fueled boom a year ago. Monthly auto sales data represents one of the first and broadest-based snapshots of consumer demand.

Sep 1, 2010

U.S. auto sales post weakest August since 1983

DETROIT (Reuters) – Automakers posted their weakest U.S. August sales in 27 years, underscoring uncertainty about the strength of the recovery in the world’s largest economy.

Sales dropped 21 percent from the government incentive-fueled boom a year ago. Monthly auto sales data represents one of the first and broadest-based snapshots of consumer demand.

Sep 1, 2010

U.S., Europe auto sales tumble as subsidies fade

DETROIT/PARIS (Reuters) – Auto sales in the United States and Europe slumped in August, reflecting the end of government subsidies that had propped up demand and underscoring uncertainty about the strength of the U.S. economic recovery.

The monthly auto sales figures reflect one of the first and broadest-based snapshots of consumer demand.

Aug 17, 2010

GM IPO filing delayed: sources

NEW YORK/DETROIT (Reuters) – General Motors Co is unlikely to file for its initial public offering on Tuesday, three people familiar with the situation said.

Even as recently as Tuesday morning the filing had been expected on Tuesday, a fourth person with knowledge of the preparations said.

    • About Kevin

      "Kevin Krolicki is Reuters bureau chief in Detroit where he has been based since 2006. He has also worked as an editor and reporter in Los Angeles and Tokyo."
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