The US Senate has rejected a compromise deal that would see Detroit’s Big Three get $14 billion in bailout money. In this case, GM and Chrysler can’t make it past the New Year and this doesn’t affect the US but the whole world where these companies trade, have factories, dealers, workers and other peripheral suppliers.

Well, it looks like Detroit isn’t’ the only place in the U.S where automakers are looking for government handout to continue the production of their cars. Tesla Motors, a Sillicon Valley auto manufacturer is looking for an initial injection from the government of $350 million, which are destined to fund the development and necessary manufacturing [...]

General Motors, the largest U.S automaker has just revealed the plan it has submitted to Congress today. It shows how far GM is willing to go in order to secure bridge loans from the federal government.

The plan includes the possible sale of Saab, killing Saturn and scaling back Pontiac, as well as reducing dealers and [...]

Ford Motor Co., the firt of the Detroit 3 to submit its plan to qualify for federal aid, declared that they don’t expect to make money until at least 2011.

What happends before 2011? Well,according to a news release, Ford expects global and North American auto businesses to reach break-even or be profitable on a [...]

To be honest, I am very happy that Barrack Obama was elected the President of the USA, and i’m sure he will do a great job in this position. Today, he declared that he - and the members of Congress - was very suprised that the Detroit 3 CEOs were so ill-prepared for their crucial [...]