Auto Sector

GM hires ‘bankruptcy’ and ‘restructuring’ veterans

If last week the Wall Street Journal reported that Chrysler LLC had hired bankruptcy law firm Jones Day, its reports on Thursday said General Motors (GM) has tapped Harvey Miller of New York law firm, Weil Gotshal & Manges LP, to handle any potential bankruptcy filing.

House approves $14 bn bailout package for auto industry

After hours of intense debate over the $14-billion dollar bailout package for the troubled US auto industry, the House of Representatives approved the bill 237 to 170. The legislation - to be tabled in the Senate, where it faces stiff Republican opposition - would provide money to cash-strapped General Motors, Ford Motor and Chrysler.

GM Said to Study Shedding Saturn, Saab, Pontiac to Win U.S. Aid

GMIn an attempt to save money and reduce overlap, General Motors Corp, the biggest US automaker, is studying whe

Nissan to skip auto shows in Detroit and Chicago

Nissan Motor Co.In the latest move to cut its marketing budget in the tight auto market, a major automaker - Nissan Motor Co - has decided to skip the Detroit and Chicago auto shows, which are costly trade events designed to showcase upcoming vehicles.

Electric car services to be increased in the Bay Area

'Better Place', a venture-backed company designed to reduce demands on petroleum through infrastructure favoring electric cars, has proposed to increase the availability of electric car services and provide incentives for investment in the technology. Representatives of the cities of San Francisco, San Jose, and Oakland said they will partner with 'Better Place' (BP) in its venture.