Big Three, Auto Industry | featured news

General Motors filed to become a public company again and let the federal government begin selling down its share.

Chrysler Group LLC will offer consumers a 60-day, money-back guarantee on new vehicles and also make the first two months of payments for buyers, as it tries to shore up sales amid lackluster consumer confidence.

Chrysler is recalling more than 683,000 Jeep Wranglers and Chrysler and Dodge minivans for brake or wiring problems.

Ford said Tuesday it would stop production of Mercury vehicles in the fourth quarter and discontinue the brand.

The U.S. Treasury and General Motors Co may select a lead underwriter for an initial public offering for the automaker as early as next week, Bloomberg News reported on Saturday.

General Motors Co. rode expense cuts from its bankruptcy and strong sales of redesigned models to its first quarterly net income in nearly three years, drawing the company closer to a stock offering that would repay at least part of its government aid....

General Motors said its domestic sales in April rose 20% for the four brands the company is keeping thanks to continued strength in crossover vehicles and cars.

"The company has shed dead weight, cut down its debt and slimmed its dealer network in order to be a more healthy business, but those moves have officially knocked The General from the top 10 of Fortune Magazine's fabled 500 list."

Chrysler Group LLC lost a staggering $3.8 billion from the time it left bankruptcy protection June 10 through the end of last year, but the automaker says its fortunes have improved.

General Motors says it will proceed with the shutdown of the HUMMER brand, but TheCarConnection has confirmed that an American company has twice expressed interest in a HUMMER deal--both before and after a failed bid from a Chinese company.