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A dire new forecast for global vehicle sales battered the shares of auto companies on Thursday, particularly General Motors, whose stock plunged more than 31 percent.
Official: Automakers will wait to see $25B loans (Detroit Free Press)
WASHINGTON The U.S. Department of Energy will meet a Congressional deadline for a temporary rule governing $25 billion in loans for the U.S. auto industry, but the money may not flow for some time, Energy Secretary Samuel Bodman said today.
Auto loans: All revved up with no place to borrow (The Pantagraph)
The era of easy auto loans has come skidding to a halt. Mortgages were among the first consumer products to be hit by the credit-market freeze. Now car loans and leases are drying up as dealers, auto-finance companies and other lenders are having trouble finding money to lend to car buyers.
Car loan fears clobber U.S. auto stocks - Ford, GM hit record lows as investors panic (WZZM 13 Grand Rapids)
Car loan fears clobber U.S. auto stocks - Ford, GM hit record lows as investors panic
