Business: Automotive

The grill emblem on the 2007 Chevrolet Impala during the Chicago Auto Show, February 7, 2007. (John Gress/Reuters)

Beyond merger talks, GM eyes federal funds

Reuters - 1 hour, 41 minutes ago

DETROIT/WASHINGTON (Reuters) - What's good for General Motors Corp is good for the country.

  • A new Chrysler sign is seen after the DaimlerChrysler sign was removed from the front of the Chrysler headquarters in Auburn Hills, Michigan in this August 4, 2007 file photo. (Rebecca Cook/Files/Reuters)
    Chrysler, GM have merger talks: sources Reuters - Sun Oct 12, 9:44 AM ET

    DETROIT/NEW YORK (Reuters) - Chrysler LLC has had talks with General Motors Corp about a deal to combine the No. 1 and No. 3 American automakers at a time when both are struggling to cut costs and shore up cash, according to three people familiar with the matter.

  • An employee talks on a phone at a Hyundai automobile shop in Seoul, April 24, 2008. (Jo Yong-Hak/Reuters)
    Hyundai may make small car in U.S. :officials Reuters - Sun Oct 12, 9:03 AM ET

    SEOUL (Reuters) - Hyundai Motor Co (005380.KS), South Korea's top automaker, is considering making a small car in the United States as the financial crisis has lifted demand for such models, officials at the company and a car parts maker said on Sunday.

  • American flags flutter in the wind in front of the General Motors Corp. headquarters in downtown Detroit, Michigan in this November 7, 2007 file photo. General Motors is in preliminary talks about a possible merger with fellow U.S. automaker Chrysler, The New York Times reported late on October 10, 2008. The talks between GM and Cerberus Capital Management, the private equity firm that owns Chrysler, began more than a month ago and are not certain to produce a deal, the paper said. REUTERS/Rebecca Cook/Files (UNITED STATES)
    Analysts: GM would need cash to acquire Chrysler AP - Sun Oct 12, 5:13 AM ET

    DETROIT - For General Motors Corp. to acquire Chrysler LLC and all of its warts, GM would have to get desperately needed cash as part of the deal. Lots of it, according to industry analysts.

  • A Chrysler vehicle sits in the showroom of a dealership in Skokie, Illinois. US automaker Chrysler considered several new partnership options Saturday, including mergers with Renault-Nissan and General Motors, industry and union official said.(AFP/Getty Images/File/Scott Olson)
    Chrysler considers merger options AFP - Sun Oct 12, 3:26 AM ET

    DETROIT, Michigan (AFP) - US automaker Chrysler considered several new partnership options Sunday, including mergers with Renault-Nissan and General Motors, industry and union officials said.

  • American flags flutter in the wind in front of the General Motors Corp. headquarters in downtown Detroit, Michigan in this November 7, 2007 file photo. (Rebecca Cook/Files/Reuters)
    GM talked merger with Ford before Chrysler: report Reuters - Sat Oct 11, 5:41 PM ET

    DETROIT (Reuters) - General Motors Corp approached Ford Motor Co about a possible merger of the two biggest U.S. car companies before more recent talks with Chrysler, the New York Times reported on Saturday.

  • Key dates in Chrysler's recent history AP - Sat Oct 11, 3:28 PM ET

    May 7, 1998: Stuttgart, Germany-based Daimler-Benz, the maker of the upscale Mercedes Benz, announces a $36 billion merger with Chrysler. The new company, DaimlerChrysler AG, begins trading on the Frankfurt and New York stock exchanges on Nov. 17.

  • Acquisition talks: About the automakers AP - Sat Oct 11, 2:13 PM ET

    General Motors Corp. and Chrysler LLC at a glance:

  • A model poses beside the Mazda Taiki at the Auto China 2008 in Beijing April 20, 2008. (Victor Fraile/Reuters)
    Ford plans to sell Mazda shares: source Reuters - Sat Oct 11, 1:28 PM ET

    TOKYO (Reuters) - Ford Motor Co is considering selling its stake in Japan's Mazda Motor Co (7261.T), a source familiar with the matter said on Saturday, as debt-laden U.S. automakers struggle with weakening auto sales and the global credit crunch.

  • A Ford employee at an assembly plant in Dearborn, Michigan. The US motor giant plans to sell most of its shares in Japanese rival Mazda to raise badly needed cash amid the current global financial crisis.(AFP/Getty Images/File/Bill Pugliano)
    Ford to dump shares in Mazda: reports AFP - Sat Oct 11, 9:11 AM ET

    TOKYO (AFP) - US giant Ford Motor Co. plans to sell most of its shares in Japan's Mazda to raise badly needed cash amid the current global financial crisis, press reports said on Saturday.

  • Ford customer Kim Cloud, left, listens to Ford salesman James Blake, right, at a Ford dealership in San Leandro, Calif., Wednesday, Oct. 1, 2008. Tight credit, economic worries and high gasoline prices combined to crush the sales of U.S. and foreign automakers alike last month, with Ford Motor Co., Toyota Motor Corp. and Chrysler LLC all posting drops of more than 30 percent. (AP Photo/Paul Sakuma)
    Mazda says no decision on Ford's stake sale AP - Sat Oct 11, 3:41 AM ET

    TOKYO - Mazda denied Saturday that a decision had been made by troubled Ford Motor Co. to sell its stake in the Japanese automaker but it didn't rule out a possible deal.

  • In this July 25, 2008 file photo, actor Justin Bruening poses with KITT at the Knight Rider unveiling during the 2008 Comic-Con International Convention in San Diego. The talking car known as KITT, originally a Pontiac Trans Am in the 1980s series, returned to TV this fall as part of a new version of the show on NBC, but this time in the form of a Ford Shelby Mustang. (AP Images/Mark Davis, file)
    Automakers push key vehicles through fall TV shows AP - Sat Oct 11, 12:54 AM ET

    NEW YORK - In this fall's TV season, a secret agent speeds around in a Chevrolet Camaro, a man tries to save the world with the help of a Dodge Ram pickup, and a famous talking car returns to the streets in the form of a Ford Mustang.

  • A logo of General Motors. Leading US automakers General Motors and Chrysler are engaged in preliminary talks that may result in their merger, The New York Times and The Wall Street Journal reported on their websites(AFP/File/Stan Honda)
    GM, Chrysler in merger talks: reports AFP - Fri Oct 10, 11:48 PM ET

    WASHINGTON (AFP) - Leading US automakers General Motors and Chrysler are engaged in preliminary talks that may result in their merger, The New York Times and The Wall Street Journal reported on their websites.

  • General Motors Corp Headquarters is seen along the Detroit River in Detroit, Michigan September 17, 2008. (Rebecca Cook/Reuters)
    General Motors, Chrysler in merger talks: NY Times Reuters - Fri Oct 10, 10:56 PM ET

    WASHINGTON (Reuters) - General Motors is in preliminary talks about a possible merger with fellow U.S. automaker Chrysler, The New York Times reported late on Friday.

  • Chevrolet Uplanders minivans are seen at a dealership in Silver Spring, Maryland, July 1, 2008. (Yuri Gripas/Reuters)
    GM, Ford say not considering bankruptcy Reuters - Fri Oct 10, 7:34 PM ET

    DETROIT (Reuters) - General Motors Corp and Ford Motor Co both ruled out on Friday seeking bankruptcy protection at a time when slow auto sales and the credit crunch have rattled investors and sent their shares plunging.

  • General Motors Corp headquarters is seen along the Detroit River in Detroit, Michigan in this September 17, 2008 file photo. GM said on October 11, 2008 it has not sought a federal bailout but did not rule out the possibility of approaching the U.S. Government or taking other dramatic steps to survive a worsening downturn in auto sales. REUTERS/Rebecca Cook/Files (UNITED STATES)
    AP source: GM could announce production cuts soon AP - Fri Oct 10, 6:12 PM ET

    DETROIT - General Motors Corp. is likely to announce further production cuts and possible plant closures as early as next week as it deals with slumping sales and a collapse in its stock price, a person with knowledge of the company's plans said Friday.

  • The price per gallon can seen on a sign as Rick Long of Elk Township, N.J. delivers gasoline from his tanker truck to a gas station in Pennsauken, N.J., Wednesday, Oct. 8, 2008. The prices posted each day at the corner gas station were a narrative of pain, a prescription for sacrifice, and ultimately, a shock to the American psyche so great that it is unlikely to go away even as gasoline prices drop. (AP Photo/Mel Evans)
    Will cheap gas mean return to gas-guzzling ways? AP - Fri Oct 10, 5:03 PM ET

    DENVER - Prices at the pump are dropping fast, and gas could fall below $3 a gallon in a matter of weeks, if not sooner. Does that mean Americans will return to their heedless, gas-guzzling ways?

  • A logo of General Motors. Shares in General Motors recovered slightly Friday a day after plunging to their lowest levels since the 1950s on concerns the giant automaker will struggle to fund its operations.(AFP/File/Stan Honda)
    GM stock struggles around 1950s levels AFP - Fri Oct 10, 2:25 PM ET

    NEW YORK (AFP) - Shares in General Motors recovered slightly Friday a day after plunging to their lowest levels since the 1950s on concerns the giant automaker will struggle to fund its operations.

  • Ford taps European chief for new CFO Reuters - Fri Oct 10, 12:45 PM ET

    DETROIT (Reuters) - Ford Motor Co said on Friday that Chief Financial Officer Don Leclair will retire effective November 1 and be replaced by the executive credited with leading the turnaround of its European operations.