
| Fed-backed bankruptcy? Moody's credit rating agency puts likelihood of a prepackaged bankruptcy with federal aid at 70%. |
Third Quarter Earnings | First Take: Car deflation looms One of the auto industry's biggest parts makers predicts only 9.3 million vehicles will be sold in the U.S. next year, down from 16 million in 2007 and 18 million cars sold in the go-go year 1999. • UAW chief calls for speedy help from White House Another brutal month of sales Automotive industry November U.S. sales hit levels last seen in in 1983; GM hit hard but Japanese also feel the drag. • A product offensive in China Ford looks to sell Volvo After standing by Swedish nameplate amid other brand sales, Ford is now forced to consider all options amid industry turmoil. • First Take: Can Sweden help save the Blue Oval? GM reins in production plans Detroit giant slashes its first-quarter production schedule by 250,000 cars and trucks, bringing 30% of its assembly-line volume to a halt amid a brutal climate for dealing cars. Troubles in Japan Honda slashes profit outlook Automaker cuts its forecast the fiscal year by 62% and postpones the opening of a new plant in Japan, as auto sales slumps and a stronger Japanese currency weighs on overseas profits. Prius plant put on ice Toyota, in the latest bit of evidence to show auto industry woes extend well beyond Detroit, says it expects to delay the start of production at a plant currently being built in Mississippi. • Toyota slapped with a rare credit downgrade |
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