On numerous occasions, de facto Car Czar Steven Rattner has said that neither he nor the U.S. government wants to be in the auto business–at least not for long. Those sentiments were reaffirmed yesterday when Rattner indicated that the feds are planning to sell off their 60.8% stake in the New GM as soon as possible. [...]

Final details about the federal government’s new Cash-for-Clunkers program–clunkily and officially titled the “Car Allowance Rebate System”–won’t be released until July 23, but that hasn’t stopped Hyundai from getting a jump on the competition. Hoping to ride the wave of great publicity it’s received for its Car of the Year award, its successful Assurance Program, [...]

If you happen to have a vehicle that’s worth less than $3500 and are interested in purchasing a new vehicle, then the current Cash For Clunkers legislation may help you out. Provided it passes out of Congress and is signed by President Obama. Assuming that it passes, when you visit a dealership to purchase a [...]

At recent U.S. Senate hearings on the auto bail out, yesterday’s testimony by Auto Task Force Ron Bloom leaves one of two impressions; the Feds have good intentions and are heading in the right direction, or the government is clueless and operating in the dark (some would add, “as usual”). Responding to questions about how [...]

Think that the government shouldn’t be in the auto business? You’re not alone. We already knew that, but thanks to a survey from Tustin, California research and analysis firm AutoPacific, we can put a number to it: 81 percent agreed that the faster the government gets out of the auto business, the better, and more [...]

As our own Richard Read reported this morning, there’s news from Capitol Hill that the “Cash For Clunkers” legislation is moving forward. Who could be against a program that speeds up the elimination of bad, evil vehicles, helping bunnies and wild flowers to breath more easily across the globe? As it stands, the idea behind [...]

Even with billions in government funds rushing toward Chrysler and GM, it’s clear that America’s automakers aren’t going to have the huge employee bases they once had–at least, not for a good long while. To help the thousands of autoworkers who’ve lost their jobs as a result of the economic meltdown, the federal government has [...]

In news that should surprise absolutely no one, General Motors is a step closer to bankruptcy this morning. Yesterday was a key deadline in GM’s restructuring schedule: the day by which the General had to reach important concessions with its bondholders. GM is indebted to those bondholders to the tune of $27 billion, and at [...]