Embattled automaker Chrysler wants to shutter about 25 percent of its 3,200 U.S. dealerships by next month, stating in a bankruptcy court filing Thursday that the network is antiquated and has too many stores competing with each other.

May 07

No image

General Motors Corp., which faces a June 1 government deadline to finish a restructuring plan or go into bankruptcy protection, said Thursday it lost $6 billion and its revenue was cut nearly in half in the first quarter.

General Motors said Thursday it will idle most of its U.S. plants for up to 10 weeks this summer, trimming some 190,000 vehicles from planned production. The shutdowns will help control high inventories and bring production in line with slower…

One day before General Motors and Chrysler are required to submit restructuring plans to Congress, it was widely reported that President Barack Obama has decided to scrap plans to appoint a "car czar" who would oversee the automakers' restructuring.

Ford, Toyota, Nissan, General Motors and Chrysler all posted record lows in their January sales reports Tuesday. The declines come at the end of a stretch of 15 months of plummeting sales that bring the companies' total losses near a…

Latest News