L.A. Times - Auto Industry News

Bank of America to finance Tesla Roadster purchases

Tue, 14 Jul 2009 14:09:01 -0700

Bank of America will begin offering financing for the purchase of a Tesla and qualified borrowers will be eligible for a loan of up to 75% of the value of the car on a five year loan.

Let's be careful out there

Mon, 13 Jul 2009 15:19:31 -0700

he latest national survey by federal safety officials of alcohol and drug use on the nation's roadways found that 16% of drivers tested on weekend nights turned up positive for drugs, including marijuana, cocaine and prescription sedatives.

Rattner leaving auto task force

Tue, 14 Jul 2009 00:00:00 -0700

WASHINGTON -- Steven Rattner, head of the Obama administration's auto task force, is leaving that post and will be replaced by former steelworkers official Ron Bloom.

'Cash for clunkers' program has its roadblocks

Sun, 12 Jul 2009 00:00:00 -0700

Certain requirements must be met before you can get a voucher for trading in your old car for a new one. If you qualify, determine whether your gas guzzler is worth more than the government rebate.

If you want to trade in your junker for a new vehicle under the federal government's "cash for clunkers" program, you'll have to act fast. The program expires Nov. 1 -- or when it runs out of money, whichever comes first -- and qualifying for the vouchers isn't as simple as you might think.

Lithium-ion battery maker Quallion seeks a boost from stimulus funds

Mon, 13 Jul 2009 00:00:00 -0700

The Sylmar company is among more than 120 contenders hoping to win one of seven or eight federal grants aimed at hybrid car development. It says it would use the money to build a manufacturing plant.

Executives at Quallion, a lithium-ion battery maker, believe they can provide an energizing jolt to the Southern California economy if they're able to secure a slice of the $2 billion in stimulus funds aimed at developing batteries for hybrid cars.

GM emerges from bankruptcy with a bold agenda

Sat, 11 Jul 2009 00:00:00 -0700

CEO Fritz Henderson says the new, smaller General Motors will focus on customers, cars and changing the company's culture; it will even sell vehicles on EBay. He expects profitability by 2011.

GM emerged from its warp-speed bankruptcy Friday delivering the following message: This won't be your father's General Motors.

Dodge Viper will stay with Chrysler

Fri, 10 Jul 2009 15:28:29 -0700

Chrysler Group said today that it is no longer trying to sell its Viper sports car business, which it put on the block last summer in an attempt to raise cash and stave off bankruptcy.

An increase in used-vehicle prices reflects a bad, but recovering economy

Fri, 10 Jul 2009 15:29:32 -0700

According to an article in Automotive News, the average wholesale price of a used vehicle in June was $10,167, which was the first time since 2008 that the monthly average price exceeded $10,000.

General Motors' image could keep the brakes on sales

Fri, 10 Jul 2009 07:27:57 -0700

Turning around consumers' perception of the automaker as it emerges from bankruptcy protection poses a huge challenge.

General Motors emerges from bankruptcy

Fri, 10 Jul 2009 05:52:00 -0700

The new General Motors arose today as lawyers finished an all-night paperwork session transferring the bulk of the automaker's assets to a company controlled by the U.S. government.