GMAC Resumes Loans to Subprime Borrowers
from CNN
GMAC Financial Services said it will resume making car and truck loans to subprime borrowers and will lower inventory financing costs for cash-strapped auto dealers, part of a series of moves intended to spur sales at General Motors Corp. More

Economy Contracting at Slower Pace, No Bottom Yet
from Yahoo!
Construction spending fell for a fifth straight month in February, but the results were better than expected and along with other economic reports, suggested contraction may be nearing an end. More

GM Seeks ‘Clean Balance Sheet,’ New Board to Survive
from Bloomberg
General Motors Corp. is seeking a “clean balance sheet” and recruiting directors as its new chief executive officer and chairman accelerate plans to keep the largest U.S. automaker out of bankruptcy. More

Fiat Execs Come to U.S. to Hash out New Chrysler Deal
from The Detroit News
An alliance between Italy's Fiat SpA and Chrysler LLC presents "an extraordinary opportunity," Fiat Chairman Luca Cordero di Montezemolo said Tuesday, adding he hoped an agreement would be concluded in the next few weeks. More

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No Plans for GM Diesel Pickup
from Trailer Body Builders
General Motors has suspended it plans for a new diesel-powered, full-size pickup, according to Ward’s Automotive Reports. The advanced 4.5L Duramax turbocharged V8 had been in the works for over three years and was scheduled to be offered as an option on 2010 Chevrolet Silverado and GMC Sierra trucks. More

Navistar Targets More Complex Funding Deals To Spur Sales
from The Wall Street Journal
The finance arm of Navistar International Corp. (NAV) is eyeing more complex funding deals in an effort to lure larger customers. The U.S. truck maker has not accessed the securitization market since last fall. But at a time when truck industry sales remain sluggish because of weak freight demand, truck buyers are becoming more reliant on vendor financing. Navistar Financial Corp. is looking to sell down portions of large customer loans or assemble syndicates of banks and specialized equipment lenders to write business. More

Ford Readies Mix of All-electric and Plug-in Hybrids
from CNET
Amid questions over the viability of General Motors and Chrysler, Ford will detail its fuel-efficient car strategy and show off an all-electric Focus and hybrid Fusion sedan on Wednesday. Company executives are scheduled to demonstrate the cars and update its "sustainable mobility technology" plans at the New York International Auto Show. The company says it is on track to bring both all-electric cars and plug-in hybrid vehicles using a new generation of lithium ion batteries to market starting next year. More

Navistar’s CEO: Trucking Key to Economy
from eTrucker
Trucking is at the heart of our nation’s economy and is key to our economic turnaround, Dan Ustian, chairman, president and CEO, Navistar International Corp., told attendees at the Heavy Duty Manufacturers Association Breakfast & Briefing. The breakfast is held annually during the Mid-America Trucking Show. While headlines focus on what’s wrong with the economy – the housing market, credit crisis, unemployment, consumer spending – “What’s missing is truckers,” he said. “Who knows better the state of the economy?” More