Big Three, Good News | featured news

General Motors Co, the largest U.S. automaker, reported a 1.5 percent increase in September auto sales on the strength of its passenger car sales, while Ford Motor Co posted sales that were on par with its results from a year earlier.

Chrysler says its U.S. sales jumped 27 percent in October because of strong demand for its Jeep and Chrysler brand vehicles. It was the company's best October sales since 2007.

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 Tuesday that automaker Chrysler Group LLC has repaid $5.1 billion in bailout loans and ended its ability to draw a remaining $2.1 billion.

Chrysler Group LLC is expected to announce today that it will repay about $7.5 billion in U.S. and Canadian government loans on May 24 -- about a month earlier than it recently said, and years ahead of the original schedule.

General Motors' U.S. sales of cars and truck jumped 27 percent in April as the economy continued to improve and $4 a gallon gasoline pushed buyers into more efficient vehicles.

General Motors on Tuesday reported that U.S. sales jumped 49 percent last month, aided by sweeter financing and lease deals that drew a response from other major automakers.

General Motors said the payments, worth “upwards of $4,000” for hourly workers, were the largest profit-sharing checks in the automaker’s history.

General Motors said that 90% of GM dealers are reporting profits, up from 40% at the end of 2009.

An optimistic Chrysler narrowed its net loss significantly in the fourth quarter and forecast a net profit for 2011 as it continued a comeback from bankruptcy protection.