Remove Auto Industry Remove Congress Remove Detroit Remove Financing
article thumbnail

Fitch Ratings: US automakers well positioned for weak demand in 2012; estimates break-even for Detroit 3 at 10.5M units

Green Car Congress

Relative to the last downturn, operating profiles are more resilient as a result of capacity reduction, lower fixed costs, and a more manageable labor cost structure linked to the recently ratified United Auto Workers (UAW) contracts. —“2012 Outlook: US Auto Manufacturers and Suppliers”. than was seen in 2010 and 2011.

2012 186
article thumbnail

GM Reaches Agreement with China-based Pacific Century Motors on the Sale of Nexteer Automotive

Green Car Congress

The sale better enables Nexteer to take advantage of anticipated growth in the global auto industry with a variety of automakers. E-Town is a state-owned enterprise serving as the financing and investing arm of the Beijing Municipal Government with a focus on investing in global technology companies.

GM 186
article thumbnail

A 100 m.p.g. truck? A Bright IDEA | Freep.com | Detroit Free Press

Tony Karrer Delicious EVdriven

Three years ago, the magazine Popular Mechanics even wrote an article prodding the auto industry for not building the 100 m.p.g. 2 of 3) Driven by Detroit This strategic decision is part of what makes Bright different from the other startups offering to retrofit hybrid cars or to sell plug-ins. car Because unlike the 100 m.p.g.

IDEA 57
article thumbnail

Ford CEO: Ford to focus on 5 key areas of innovation: mobility, autonomy, connectivity, customer experience and performance

Green Car Congress

and Verizon Telematics, were supporting the launch of “Techstars Mobility, driven by Detroit”—a startup business accelerator program sited in downtown Detroit. In conjunction with the media event, Ford announced that it, Magna International Inc. Earlier post.). Power and General Motors.

Ford 268
article thumbnail

Grant Thornton LLP Warns of Potential Collapse of Automotive Supply Chain

Green Car Congress

But the most immediate and pervasive risk to the economy is a wholesale collapse of the automotive supply base, Grant Thornton LLP partner Laura Marcero told the Automotive Press Association in Detroit. Meanwhile, adding further downside pressure is that banks in many cases are working to reduce their exposure to the auto industry.

Grant 150
article thumbnail

GM Working with Communities to Develop Roadmap For Plug-in Infrastructure

Green Car Congress

provide home wiring service at low/no-cost or financed thru low monthly utility bill); Provide free charging or compelling low-cost EV rates (3-4 cents/kWh); Provide “green” electricity options; Commit/fund commercial fleet purchases (25 high-profile vehicles). Earlier post.).

Plug-in 150
article thumbnail

One way or another, Fisker Automotive may soon be off the market

Green Car Congress

Even after accounting for all possible losses on the Fisker loan, expected losses to date only represent about 2% of our overall loan program portfolio of approximately $34 billion—and less than 10% of the loan loss reserve Congress set aside for the program. ”. On 18 September, the Detroit News reported that Sen. Earlier post.)

Fisker 218