Auto Industry | featured news

General Motors and PSA Peugeot Citroen announce a global alliance that will see them develop cars together.

President Barack Obama told more than 1600 current and hourly autoworkers on Tuesday that if Republicans had been in charge they would have left the auto industry "out to dry."

Auto sales are growing so fast that Detroit can barely keep up. Three years after the U.S. auto industry nearly collapsed, sales of cars and trucks are surging.

The super PAC behind President Obama is on the air in Michigan today with an ad slamming Mitt Romney and his opposition to the auto industry ...

Whether voters see a principled stand or ruthless capitalism in Mitt Romney’s 2008 opposition to the auto industry rescue will affect how he fares in Michigan’s primary and likely beyond.

General Motors earned its largest profit ever in 2011, two years after it nearly collapsed. Strong sales in the U.S. and China helped the carmaker turn a profit of $7.6 billion, beating its old record of $6.7 billion in 1997 during the pickup and SUV boom.

U.S. retail sales rose less than expected in January as consumers cut back on car purchases and did less online shopping.

The Pep Boys _ Manny, Moe & Jack, an auto parts chain founded more than 90 years ago, has agreed to be taken private by the investment firm The Gores Group for about $791 million. The $15 per share offer is a 24 percent premium to Pep Boys' closing price Friday of $12.08. News of the acquisition sent the Philadelphia company's shares up $2.82, or 23.3 percent, to $14.90 in morning trading on Monday.

After three years of settling for second place, General Motors reclaimed its title as the world’s largest automaker in 2011, a year when its sales grew in every region of the globe while Toyota sales were hampered by major natural disasters.

Welcome to an unlikely beacon of hope for the global auto industry -- Detroit. Executives arriving this week for the Detroit auto show find a U.S. car market that has morphed from meltdown three years ago to a safe haven as concerns grow about the stability of other big economies, from Europe to China.