Auto Industry, Automaker | featured news

Ford's market analyst said U.S. auto sales are running at the strongest pace since April as vehicle inventories recover for Toyota and Honda.

General Motors Co. and the United Auto Workers have reached an agreement on a new contract....

General Motors said its sales increased 7.6 percent from a year ago. Ford’s were up 6.1 percent and Chrysler’s rose 20.1 percent.

Ford Motor Co plans to build a $900 million production plant in India, doubling its investment in the country, as the U.S. carmaker seeks to catch up with rivals in the second-fastest growing auto market in the world.

Swedish car maker Saab Automobile must pay its workers within 14 days to avoid bankruptcy, the general counsel at labor union Unionen said after the cash-starved company failed to pay employees on time.

To help American carmakers stay in business, autoworkers grudgingly gave up pay raises and some benefits four years ago.

The Treasury Department said Thursday it has exited its investment in Chrysler LLC after Italian automaker Fiat SpA purchased the U.S. government's remaining holdings in the auto company.

Chrysler Group LLC has recalled 11,351 vehicles for a possible missing or incorrectly installed part that could result in loss of steering capability and increase the risk of a crash.

American companies sold more computers, heavy machinery and telecommunications equipment in foreign markets in April, pushing exports to a record high. Imports declined, reflecting a big drop in auto imports from Japan caused by supply disruptions from the March earthquake and tsunami.

The Treasury Department said on Thursday it reached an agreement to sell its remaining 6 percent equity stake in Chrysler to Italy's Fiat in a deal that will net Washington $560 million.