Transportation Secretary Ray LaHood says his advice to 'stop driving' recalled Toyotas was 'a misstatement.' A spokeswoman adds that it was merely an exhortation to owners to get their cars to the dealer 'as soon as possible.'
The unexpected departure of GM CEO Fritz Henderson signals the board's impatience with the pace of change – especially compared with Ford.
Outsider Whitaker is already GM's interim CEO after Fritz Henderson's departure.
Overall sales plummeted with the end of 'cash for clunkers.' Ford has taken a hit too, but it's still doing better than Toyota, Honda, or Nissan.
So far, Ford is avoiding bankruptcy or a government bailout. Consumer confidence will be most important in securing its financial situation.
Lawmakers say bankruptcy for Detroit's Big Three is 'not a viable option.'
In the rush to efficient cars, Detroit is losing out to Asian brands.