Auto industry given $25 million loan for hybrid production (Central Michigan Life)
The U.S. House of Representatives approved $25 million in loans last month to help auto industries produce advanced car batteries as well as work on gas-electric hybrid vehicles. The goal of the loan is not only to help stimulate the economy but to help protect the environment as well.
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Loan troubles drive change among local auto dealers (BizJournals)
The evaporation of loans to ordinary consumers is letting the air out of the auto industry both nationally and in Greater Cincinnati, as vehicle sales and dealerships continue their decline and manufacturers tighten financing terms.
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AIG May Sell Hawaii Unit to Pay Federal Loan (Insurance Journal)
American International Group Inc. may sell its AIG Hawaii unit to pay off an emergency $85 billion federal loan. The local unit is part of the AIG Personal Auto Group, which the New York-based insurer
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Regions cancels auto dealer loan program (Knoxville News Sentinel)
A bank with a large presence in East Tennessee has stopped outsourcing its auto loan process to car dealers. Birmingham, Ala.-based Regions Financial Corp. has eliminated loan programs offered to at least 2,600 dealerships across the nation, in which dealerships pre-authorized loans from the bank, according to published reports.
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Obama in Toledo: Double loan guarantee for U.S. automakers (Detroit News)
TOLEDO -- Barack Obama's top economic adviser signaled today that Obama, if elected, might step in to prevent the failure of one of the three domestic carmakers, and called on Congress to double the $25 billion loan-guarantee package for car companies it passed last month.
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Fitch Affirms Wachovia Auto Loan Owner Trust 2006-1 (Business Wire via Yahoo! Finance)
NEW YORK----Fitch Ratings has affirmed all classes of asset-backed notes from Wachovia Auto Loan Owner Trust 2006-1, as follows:
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Car loan fears clobber U.S. auto stocks - Ford, GM hit record lows as investors panic (WZZM 13 Grand Rapids)
Car loan fears clobber U.S. auto stocks - Ford, GM hit record lows as investors panic
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Drive Beautiful (Texarkana Gazette)
Larissa Powell stands next to a one-of-a-kind 1954 Buick Landau on display Saturday at the Tex-Ark Antique Auto Museum. The car is on loan from Houston-based attorney John M. O’Quinn and will be at the museum until Oct. 28th.
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Car loan crunch squeezes customers and dealers (Miami Herald)
If your credit is less than perfect, good luck getting a car loan in South Florida. Like mortgages and business loans, car loans and leases have shriveled up as the paralyzed credit market awaits the effects of a $700 billion bailout. Both customers and carmakers are being squeezed, with crippled giants GM and Chrysler discussing a merger.
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Q&A: Why the loans for auto makers? (The Ann Arbor News)
Congress recently approved giving $25 billion in loans to the U.S. auto companies to help them develop more fuel efficient cars. David ColeThe News talked to David Cole, chairman of the Center for Automotive Research in Ann Arbor, about the...
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