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

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rapidly weakening worldwide economy causes the global auto market to collapse, much as it. did in 2009, resulting in a significant decline in vehicle production, Fitch could switch the rating to Negative. Fitch estimates that the break-even industry sales level for the Detroit Three and major parts suppliers is now about 10.5

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UAW strikes: GM shuts down Kansas plant and lays off 2,000 workers

Teslarati

General Motors (GM) has shut down a manufacturing plant in Kansas and laid off the site’s roughly 2,000 workers after the automaker stated plans to do so last week. The news comes as the latest amidst strikes from the United Auto Workers (UAW) union targeting Ford, GM and Stellantis. We have delivered a record offer.

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

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Fields said that Ford’s investments in products, people, plants and technology, combined with industry growth, are not only delivering a year of growth in terms of revenue, pricing power, operating margins and profitability in 2014, but are setting the stage for growth in and beyond 2015. —Mark Fields. [In Earlier post.).

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Federal Bankruptcy Court Approves GM Asset Sale to New GM

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Judge Robert Gerber of the US Bankruptcy Court for the Southern District of New York approved the sale of substantially all of General Motors Corporation’s assets to NGMCO, Inc., will change its name to General Motors Company and continue to operate under GM’s historic corporate and sub brands.

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Cadillac to follow Chevy Volt’s lead

Green Cars News

The Cadillac brand may be one of the most inspirational in motoring history, but its latest model promises to follow in the footsteps of a much more modern icon. The concept car originally made its debut earlier this year at the North American International Auto Show.

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Grant Thornton LLP Warns of Potential Collapse of Automotive Supply Chain

Green Car Congress

The economic impact of a General Motors or Chrysler bankruptcy is being debated across the country. 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. The Role of the OEMs.

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Stellantis CEO: EV transition costs are “beyond the limits” the auto industry can sustain

Teslarati

Taveres said that the costs of transitioning to electric vehicle production are “beyond the limits” of what the current auto industry can sustain in an interview with Reuters Next. US President Biden pats GM CEO’s back: “You electrified the entire auto industry. It will lead to quality problems.