In June, President Obama signed the CARS Act. It makes $1 billion available for Americans that trade their fuel inefficient vehicles for brand new, greener ones.
Some dealerships have accepted cars in the program since July 1. However, most dealers were waiting for Friday in order to closely examine the program’s final guidelines released [...]

The rate of new claims for jobless benefits fell to the lowest level since January, and a close look at the pattern of layoffs in the automotive industry provided additional good news for auto workers.
The government said that initial claims fell by 52,000 — a drop significantly more than any economists had expected. In [...]

When I heard about the “big 3″ (GM, Chrysler and Ford) whining for “bail outs” I remembered Atlas Shrugged. It is long ago, I read that novel, but I remember very well, what those “honorable” industrials did to survive in spite of their obvious incompetence. They asked the government to protect them. Some things never [...]

Can the U.S. economy possibly get any scarier or more complicated?
The short answer is yes, it can. The longer, more complicated answer is that the looming (potential) failures of Ford, GM, and Chrysler present long term sustainability problems for a middle class that is already clamoring for short term, emergency solutions.
Ford recently announced [...]

After posting a 24.5% decline in August sales, GM announced on September 3 that it was encouraged by falling gas prices and signs that the market might finally be bottoming out. It takes a whale of a positive attitude to see a bright spot in a sales report like that, especially when the drop occurred [...]