Auto Industry Bailout | featured news

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.

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.

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.

Republican presidential candidate Mitt Romney defended himself Thursday against questions over why he opposed a federal bailout of General Motors and Chrysler two years ago.

Barely two years since it filed for bankruptcy, Chrysler still has to prove it can deliver on its “second chance.” The carmaker seems to be heading in the right direction.

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.