Surging demand for cars in rapidly growing nations will mean a robust car industry in 20 years. The US will have a piece of it – though smaller than today – and the models it turns out will be much greener as the iconic industry reinvents itself.
The automaker got key concessions from bondholders this weekend to help smooth bankruptcy proceedings, which are expected to begin Monday.
The company hopes to shrink its current pool of 5,969 dealers to about 3,600 by 2010.
Sergio Marchionne, a jazz-loving Italian businessman who helped turn around the Italian carmaker, is poised to be the next CEO of Chrysler.
It will also cut Pontiac, as well as more jobs. But if dealerships and bondholders don't agree to the changes, bankruptcy looms.
New car sales soared 21 percent in February as a government incentive program sparked buying.
General Motors will drop four of its eight nameplates. What about service and warranties?
GM is asking the US Treasury for an extra $16.6 billion. Chrysler wants another $5 billion.
The industry itself bears some, but not all, of the responsibility, as GM and Chrysler seek more US aid.
Ford, General Motors, and Chrysler, seeking access to $34 billion in taxpayer-financed loans, have presented to Congress plans to invest in clean technologies and to accelerate the development of fuel efficient vehicles.