Bankruptcy

Penske testifies Detroit, like GM, will be cleansed by bankruptcy

1:19 pm U.S. ET | Oct. 3, 2014

Detroit can benefit from a trip through bankruptcy, just as GM used court protection to turn itself around, Roger Penske on Friday told the judge weighing whether to approve the city's $7 billion debt-cutting proposal....
Read More »

NEVS lays off staff as Saab output remains idled

12:16 pm U.S. ET | Sept. 24, 2014

China's cash-strapped National Electric Vehicle Sweden said it would lay off up to 200 employees at its Saab car plant in Sweden as production is unlikely to resume anytime soon....
Read More »

Warren Buffett is bullish on GM, Detroit

3:33 pm U.S. ET | Sept. 18, 2014

Billionaire investor Warren Buffett said today he is bullish on Detroit and General Motors -- and said he's impressed with CEO Mary Barra....
Read More »

Saab carmaker NEVS granted creditor protection by court but loses right to use Saab name

Aug. 29, 2014 12:46 CET

National Electric Vehicle Sweden (NEVS), which bought Saab in 2012, won court protection from creditors today. But the automaker suffered a blow when Saab AB, the defense firm, withdrew NEVS' right to use the brand name Saab for its cars....
Read More »

Court rejects creditor protection for Saab owner NEVS

Aug. 28, 2014 11:56 CET

A Swedish court rejected an application from China's National Electric Vehicle Sweden, which bought bankrupt Saab in 2012, for protection against creditors while it concludes funding talks....
Read More »

Supplier Dayco names John Bohenick CEO

11:23 am U.S. ET | Aug. 20, 2014

Automotive belt and pulley supplier Dayco Products today named John Bohenick as its new CEO. Bohenick will replace James Orchard in the position....
Read More »

Saab's owner seeks partner to secure brand's future

Aug. 19, 2014 11:15 CET

Saab's owner, National Electric Vehicle Sweden, says it is in discussions with potential partners as it seeks to restart car production and develop future models....
Read More »

SPECIAL REPORT

Obama aides let Delphi avoid taxes with 'inversion' tactic now assailed

12:34 am U.S. ET | Aug. 6, 2014

President Obama says U.S. corporations that adopt foreign addresses to avoid taxes are unpatriotic. But the administration helped one $20 billion American company, Delphi Automotive, do just that....
Read More »

Toyota gives $1 million to help shield Detroit museum's art from bankruptcy sale, aid pensioners

2:34 pm U.S. ET | Aug. 6, 2014

Toyota's North American arm pledged $1 million toward the Detroit Institute of Arts' goal to raise $100 million and help prevent the sale of the museum's collections during Detroit's bankruptcy case and assist city pensioners....
Read More »

Automotive News Cover
News by Brand