After an initial trial run in December 2008 yielded a significant boost in lagging sales, Chrysler has announced they will be expanding their “Invest In America” loan partnership program to allow nationwide participation. Organized by the Lansing, MI-based Michigan Credit Union League (MCUL), “Invest In America” is an incentive program that provides either $500 or [...]

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The White House announced a $17.4 billion rescue package for the troubled Detroit auto makers that allows them to avoid bankruptcy and leaves many of the big decisions for the incoming Obama administration.
Speaking from the White House, President George W. Bush said the administration decided against forcing a bankruptcy to compel cost-cutting, in order to [...]

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Hunan Changfeng Motor Co is in talks with AM General LLC about a joint acquisition for Hummer brand, general manager of Changfeng Motor said.
“We never quit talks on acquiring the brand,” said Zhengchu Chen in an interview with Beijing based Jinghua newspaper. For those behind on the loop, Hummer production has officially been halted and [...]

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The Treasury Department said Friday it’s prepared to act to avoid any possible collapse of nation’s three largest auto companies given that rescue efforts in Congress have failed.
“Because Congress failed to act, we will stand ready to prevent an imminent failure until Congress reconvenes and acts to address the long-term viability of the industry,” said [...]

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This year is shaping up to be one of the worst on record for new cars sales, but 2009 will likely be far worse, a new report says. In fact, 2009 sales levels may slip so low that General Motors and Chrysler won’t be able to survive, even if a bailout package is approved in [...]

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