Former Obama Car Czar and author of tell-all book “Overhaul” Steven Rattner recently told the International Motor Press Association that he is optimistic about light-vehicle sales in 2011, reports Wards Auto. Rattner foresees 14 million units sold this year, and 15 million in 2012. In the long term, this trend should continue until U.S. automakers Read on! →
Tag Archives: troubled asset relief program
Chrysler Group CEO Sergio Marchionne has announced that the automaker will pay bonuses to its hourly and salaried employees, reports the Detroit Free Press. Via a corporate e-mail sent Jan. 31, Marchionne praised Chrysler employees for contributing to the introduction of 16 new or revamped cars in 2010. Bonuses will be delivered on Feb. 11, Read on! →
Chrysler Financial announced Tuesday that it has repaid its government loans in full, six years early. Chrysler Financial is the former financial arm of automaker Chrysler LLC. The company owed $1.5 billion to the U.S. government. Loan granted when Chrysler filed Chapter 11 Michigan-based Chrysler Financial received a loan from the government’s Troubled Assets Relief Read on! →
U.S. taxpayers are still owed $132.9 billion by companies that haven’t repaid their Troubled Asset Relief Program debt, reports the Detroit Free Press. Some of it will never be recovered from the automakers that were deemed “too big to fail.” Years of auto bailout blues Launched at the zenith of the financial crisis in September Read on! →