18 November 2008
Bailout of US motor sector slammed
WASHINGTON: A key Republican Senator said on Sunday it was "pretty clear" a US$25bil bailout proposal for US vehicle makers will fail in the US Senate, while Democrats argued saving the industry was critical to the US economy. The Senate was slated yesterday to begin debating emergency legislation to General Motors Corp, Ford Motor Co, and Chrysler LLC in a special post-election session to deal with the economic crisis. [The Star]
http://biz.thestar.com.my/news/story.asp?file=/2008/11/18/business/2572032&sec=business
Auto rescue unpopular with laymen
[The Star]
http://biz.thestar.com.my/news/story.asp?file=/2008/11/18/business/2572754&sec=business
19 November 2008
Automotive policy needs overhaul: Observers
The country's automotive policy should be overhauled to ensure a fairer and more open industry for both Malaysian and foreign players, industry watchers said. The government is expected to unveil by March next year the revised National Automotive Policy (NAP), which was first announced in early 2006. [Business Times]
http://www.btimes.com.my/Current_News/BTIMES/articles/lisi-2/Article/
Ford slashes Mazda stake to raise cash
Ford Motor Co is slashing its stake in Japan's Mazda Motor Corp by nearly two-thirds, joining other struggling US carmakers in selling prized assets to stay afloat. Ford, which owns 33.4 per cent of Mazda, will sell about a 20 per cent stake, the companies said in a separate statements. [Business Times]
http://www.btimes.com.my/Current_News/BTIMES/articles/ford19-2/Article/
20 November 2008
US, Europe car makers plead for help
US and European automakers warning that their industry was now imperiled by the global economic meltdown, appealed for government help and sparked sharp falls on jittery stock markets yesterday. Automakers in the US, Britain, Germany and Italy sent out distress signals, intensifying fears of huge job losses and a prolonged and painful recession. [Business Times]
http://www.btimes.com.my/Current_News/BTIMES/articles/20081120002724/Article/