Bankruptcy

Chinese supplier Wanxiang makes last-minute Fisker bid

1:23 pm U.S. ET | Dec. 31, 2013
A unit of Wanxiang Group, China's largest auto parts company, made a surprise bid for Fisker Automotive just days before the bankrupt maker of the Karma plug-in hybrid sports car was to be sold to a Hong Kong tycoon, according to court documents.... Read More »

 

Fisker founder, former directors sued by investor over collapse

1:39 pm U.S. ET | Dec. 30, 2013
Fisker Automotive founder Henrik Fisker and the hybrid carmaker's former directors were sued by investor Atlas Capital Management LP over $2 million in losses it allegedly suffered in the bankrupt company's collapse.... Read More »

 

NO BULLIES, NO SACRED COWS

Incoming GM chairman Solso made tough calls as Cummins' CEO

12:01 am U.S. ET | Dec. 30, 2013
The recent selection of Tim Solso as General Motors' nonexecutive chairman didn't come as a shock to former colleagues, given the parallels between his 12-year tenure as Cummins Inc. CEO and the path of post-bankruptcy GM. Both involved a struggle to change the culture of a once-dominant but humbled company.... Read More »

 

RECKONING to REVIVAL: PART IV

Five signs of new life in post-crash Detroit

12:01 am U.S. ET | Dec. 27, 2013
The UAW agreed to establish a two-tier wage system in 2007 in hopes of boosting employment at the Detroit 3. It worked: Chrysler has hired more than 10,000 workers in the United States since coming out of bankruptcy. Yet two-tier wages have created divisions on the factory floor amid the industry's profitable recovery.... Read More »

 

RECKONING to REVIVAL: PART III

Recalled: Insourcing workers from Detroit to bring a plant back to life

12:01 am U.S. ET | Dec. 26, 2013
As Chrysler was tumbling toward bankruptcy, Scott Garberding was trying to keep the Grand Cherokee alive. Chrysler had committed $1.8 billion to redesigning the SUV and overhauling the company's Jefferson North assembly plant in Detroit with a high-tech body shop that would build it with better quality.... Read More »

 

RECKONING to REVIVAL: PART II

For Detroit 3, obstacles were closer than they appeared

12:01 am U.S. ET | Dec. 25, 2013
Jim Blanchard was horrified as he watched the Detroit 3 CEOs stumble through the congressional bailout hearings in November and December 2008. As a baby-faced, 37-year-old congressman from Michigan, Blanchard was the architect of Chrysler's earlier federal bailout, which gave the automaker government backing for $1.5 billion in lifesaving loans.... Read More »

 

RECKONING to REVIVAL: PART I

How workers rebuilt the U.S. auto industry

12:01 am U.S. ET | Dec. 24, 2013
The U.S. auto industry has come full circle, from boom to bankruptcy to boom, and Detroit's road from reckoning to revival was shorter than expected. The Detroit 3's new strength is embodied in Chrysler's reborn Jefferson North assembly plant in Detroit, perhaps the most profitable factory in the industry today.... Read More »

 

Fisker won't build cars at former GM plant, Del. senator says

12:34 pm U.S. ET | Dec. 19, 2013
Fisker Automotive, the bankrupt electric-car maker, won't use a shuttered GM plant it bought in Delaware even if its new owner resumes production, Delaware Senator Tom Carper said today.... Read More »

 

GM doesn't owe $450M in retiree medical benefits, judge rules

12:30 pm U.S. ET | Dec. 11, 2013
A federal judge said GM is not required to pay $450 million to cover medical benefits for retirees, in a defeat for the UAW that dates back to the automaker's Chapter 11 bankruptcy reorganization.... Read More »

 

Fisker's quick sale through bankruptcy remains on track

6:47 pm U.S. ET | Dec. 10, 2013
Fisker might not be making its plug-in Karma sports cars anymore, but it still knows speed. The company's lawyers convinced a bankruptcy judge on Tuesday that its Chapter 11 should proceed at an unusually rapid pace.... Read More »

 

Saab targets China as 9-3 output resumes

12:01 am U.S. ET | Dec. 9, 2013
Saab's new owner, National Electric Vehicle Sweden, has restarted production of the Saab 9-3 sedan in Trollhattan, Sweden. Sales of the mid-sized sedan will be “initially focused” in China, NEVS said in a statement.... Read More »

 

Saab focuses on China as production of 9-3 sedan restarts

Dec. 2, 2013 13:56 CET
Saab's new owner, National Electric Vehicle Sweden, has restarted series production of the 9-3 sedan. Sales will be ''initially focused'' on China, the company said.... Read More »

 

Fisker sale may be approved Jan. 3, bankruptcy judge says

3:34 pm U.S. ET | Nov. 26, 2013
Fisker may be sold by Jan. 3 under an accelerated schedule approved by the judge overseeing its bankruptcy case. U.S. Bankruptcy Judge Kevin Gross on Tuesday approved a faster-than-normal sale process for the company, which filed for bankruptcy on Nov. 22.... Read More »

 

Fisker files for U.S. bankruptcy protection as part of sale to Hong Kong tycoon

Nov. 25, 2013 06:01 CET
Fisker Automotive, the dormant California-based maker of hybrid-electric sports cars, filed for Chapter 11 bankruptcy protection as part of a restructuring plan. Hybrid Technology Holdings, an investor group controlled by a Hong Kong tycoon, is purchasing Fisker's assets and will provide $8 million in debtor-in-possession financing to fund the sale and restructuring.... Read More »

 

Fisker files for Chapter 11 bankruptcy as part of sale to Hong Kong tycoon

5:07 pm U.S. ET | Nov. 22, 2013
Fisker Automotive, the dormant California-based maker of hybrid-electric sports cars, filed for Chapter 11 bankruptcy protection as part of a restructuring plan. Hybrid Technology Holdings, an investor group controlled by a Hong Kong tycoon, is purchasing Fisker's assets and will provide $8 million in debtor-in-possession financing to fund the sale and restructuring.... Read More »

 

EDITORIAL

Think back to 2008

12:01 am U.S. ET | Nov. 11, 2013
Five years ago this month, the North American auto industry was in desperate straits.... Read More »

 

How the new GM was born: Alix's version

12:01 am U.S. ET | Nov. 4, 2013
Ousted General Motors CEO Rick Wagoner is cast in a sympathetic light in corporate turnaround specialist Jay Alix's breathless first-person account in Forbes of how the plan to restructure GM took shape in 2008 and 2009.... Read More »

 

Reuss defends GM on Facebook, then deactivates account

5:58 pm U.S. ET | Nov. 4, 2013
Mark Reuss, GM's top executive for North America, deactivated his Facebook account on Monday after he responded to a Web site that wrote dismissively about the company's shrinking U.S. auto market share.... Read More »

 

CRASH FLASHBACK

On the air: Bob Lutz, Mike Jackson, and more offer perspectives on the crash

12:01 am U.S. ET | Nov. 4, 2013
Automotive News sat down with key industry insiders and our own editors to talk about what it was like during this dark period for the automotive industry.... Read More »

 

CRASH FLASHBACK

Gales of November

12:01 am U.S. ET | Nov. 4, 2013
The global financial crisis made November 2008 a month to remember.... Read More »

 

CRASH FLASHBACK

Sykora: 'This is your life'

12:01 am U.S. ET | Nov. 4, 2013
Texas dealer Annette Sykora testified at the congressional hearings in which Detroit 3 CEOs faced hostile questioning.... Read More »

 

CRASH FLASHBACK

Sprague: 'There are still customers'

12:01 am U.S. ET | Nov. 4, 2013
Michael Sprague, Kia Motors America's executive vice president of marketing, had only been with the brand for a few months before the crisis — which Kia saw as an opportunity. It was one of only three brands to increase U.S. sales in 2009.... Read More »

 

CRASH FLASHBACK

Lutz: 'A huge missed opportunity'

12:01 am U.S. ET | Nov. 4, 2013
To this day, former GM Vice Chairman Bob Lutz feels the combination would have been a winner.... Read More »

 

CRASH FLASHBACK

Lombard: 'GM was blowing through cash'

12:01 am U.S. ET | Nov. 4, 2013
'You knew the way GM was blowing through cash that they were going to run out of cash.'... Read More »

 

CRASH FLASHBACK

Leuliette: 'It was hell on wheels'

12:01 am U.S. ET | Nov. 4, 2013
In 2008, Tim Leuliette was CEO of Dura Automotive. Earlier that year, the supplier had emerged from Chapter 11 bankruptcy protection.... Read More »

 

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How a Texas Toyota store solved used-car-supply challenge

How a Texas Toyota store solved used-car-supply challenge

Mike Shaw Toyota in Corpus Christi, Texas, struggled to find good used cars. So it started providing free appraisals to service customers and offered to buy their vehicles on the spot. Mon., April 14
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