Chrysler, an 84-year-old symbol of Americas manufacturing might, has filed for Chapter 11 bankruptcy in an unprecedented move announced Thursday by President Barack Obama.
Chrysler is headed for a trip through bankruptcy, a government official said Thursday, as talks with holdout debt holders have collapsed.
Video: sure looks that way based on how aggressively the government is pumping money into the company.
Oriental cars are no good. Buy American and keep your money in the USA.
Chrysler Corporation reached an agreement with the United Automobile Workers and Italian automaker Fiat that reportedly meets Treasury department requirements for additional funding to keep the automaker operating .
Chrysler LLC and Fiat S.p.A. are prepared to complete an alliance by Thursday that would be taken into bankruptcy court as a key element of the U.S. automaker's restructuring plan if needed, a person with direct knowledge of the situation said.
Barack Obama is planning to announce Thursday morning that Chrysler LLC will file for Chapter 11 bankruptcy protection as it completes an alliance with Fiat S.p.A., Bloomberg News reported, citing people familiar with the matter.
In terms of green car technology, North America is just catching up to the rest of the world. As green technology costs come in line with the value to the consumer, we'll probably see more eco-friendly cars hit the street. Whether it's gasoline-electric hybrids, hydrogen fuel cells, electric, new-generation diesel or the next big thing, AutoWeek cover it on these pages.
The annual Petersen Automotive Museum's fundraising event on May 7 promises to be fun, fun, fun when Beach Boy Brian Wilson and his band take the stage.
The annual Petersen Automotive Museum's fundraising event on May 7 promises to be fun, fun, fun when Beach Boy Brian Wilson and his band take the stage.