bankruptcy

Has Takata finally found a buyer?
Has Takata finally found a buyer?

After months of searching, beleaguered Japanese supplier Takata may have finally found its knight in shining armor. Insiders report that Chinese-owned, U.S.-based Key Safety Systems is slated to be the company's lucky buyer. Or rather, we should say "preferred buyer." While Key Safety Systems may...Read More»

Supreme Court of the United States (2010)
Supreme Court Refuses To Hear Cases From Fiat Chrysler & Ford

In two separate rulings -- or rather, non-rulings -- the Supreme Court of the United States had dealt smackdowns to Fiat Chrysler Automobiles and Ford Motor Company. According to Detroit News, SCOTUS refused to hear a case from FCA regarding the re-opening of dealerships shuttered in the wake of...Read More»

General Motors ignition assembly parts, packaged and shipped Thursday, April 17, 2014
2009 Bankruptcy May Not Fully Protect GM From Ignition-Switch Lawsuits

In 2009, General Motors Corporation underwent a very quick, very contentious bankruptcy. In the course of just a few short weeks, the automaker transformed into General Motors Company. The name change may not have seemed significant to the public, but in fact, it meant that the "old GM" was dead...Read More»

Spyker's propeller logo.
BREAKING: The Curse Of Saab, Volume 3: Spyker Is Officially Bankrupt

Some things are hard to believe -- things like cold fusion and the longevity of Charlie Sheen's acting career. Not so long ago, we would've expressed our doubts about curses, too, but seeing the trail of destruction that Saab has left in its wake, we're beginning to have second thoughts. ALSO SEE...Read More»

Saab logo
Deathwatch: Saab's Parent Company Lays Off 200 As Another Bankruptcy Looms

Winter is coming, and it may be a brutal one for Saab employees. As our colleagues at Motor Authority report, the struggling automaker is laying off up to 200 workers while it attempts to restructure and secure funding to resume production. RECENTLY, ON THE SAGA OF SAAB... Early last month, a...Read More»

Saab logo
Saab Files For Bankruptcy Again: Who's Going To Save It This Time?

The long saga of Saab beggars belief. With all the ups and downs and reinventions, it plays like a so-so season of Doctor Who: observers either find it so ludicrous that they stop caring, or they become devoted, passionate fans. Today's unlikely plot twist is no less absurd. Because as our...Read More»

Saab logo
Saab May Not Be Saved After All: New Owner Being Forced Into Bankruptcy

We thought it was over. We thought that someone, somewhere had a solid plan to make Saab profitable -- something GM and Spyker were sadly never able to do. Unfortunately, Detroit News tells us that our hopes may have been in vain, because Saab's most recent "savior" could be heading for bankruptcy...Read More»

General Motors Renaissance Center, Detroit, Michigan
GM Worried About Class-Action Suits But Not Cash: Recalled-Car Incentives Boost Sales

General Motors' ongoing "Switchgate" saga continues today, as the company returns to bankruptcy court. According to the New York Times, the automaker isn't planning to restructure again, it just wants the court to reiterate that "new" GM isn't liable for any of the products made on "old" GM's...Read More»

Mary Barra
Switchgate Update: GM On Trial & On Capitol Hill

If you follow the news, you've heard about General Motors' current recall fiasco -- the one dubbed "Switchgate" in the media because of the faulty Chevrolet, Pontiac, and Saturn ignition switches that have been linked to at least 31 accidents and 12 deaths. On the off-chance that you expected...Read More»

2012 Coda Sedans on assembly line, Benicia, California, March 2012
Psst, Want A Coda? Get One Cheap!

Back in May, after a timid foray into the U.S. auto market, electric vehicle manufacturer Coda filed for bankruptcy. This was not surprising. In the first place it was a startup with zero name recognition in the U.S. In the second place, Coda's only product was a hideous four-door sedan that looked...Read More»

2011 Coda Sedan, final production version
Electric Car Company Coda Files For Bankruptcy

Well, that was fast: roughly one year after it first began delivering all-electric sedans to American consumers, electric-car startup Coda Automotive has filed for bankruptcy. The bulk of the company's website has been disabled. On the front page, we find only a press release, which states that...Read More»

2013 Suzuki Kizashi
Suzuki Slouches Toward Bankruptcy. America Shrugs.

Remember the outrage sparked by Saab's bankruptcy announcement? It set off a skirmish of accusations and denials, with investors clamoring to buy a stake in the quirky car company, then silently slinking away, until finally at the 11th hour, a group of Chinese and Japanese funders rode into Saab...Read More»

2011 Saab 9-5
Saab Owners: Warranty Protection Is Just A Few Clicks Away

Own a recent Saab? Worried about your warranty now that the automaker has gone belly-up? Well, put those concerns to rest, because Saab Automobile Parts North America (SPNA) has just announced the Saab Secure program. Saab Secure is geared toward owners of Saab vehicles from 2010 and 2011. (The...Read More»

2012 Suzuki SX4 SportBack
Suzuki's Hard Candy Christmas: Sales Soar After Bankruptcy Announcement

Back in November, on the final day of a fiercely fought U.S. presidential election, Suzuki announced that it was leaving the American auto market. After years of slumping sales, the automaker's U.S. division decided to file for bankruptcy and focus its attention on Suzuki's successful lineup of...Read More»

General Motors Renaissance Center, Detroit, Michigan
GM Buys Back $5.5 Billion In Stock From The U.S. Government

General Motors has announced plans to buy back some of its stock from the U.S. Department of the Treasury, reducing the federal government's stake in the automaker by 40%. In a press release, GM says that it will purchase 200 million shares of common stock from the Treasury -- a significant chunk...Read More»

2013 Suzuki Kizashi
Suzuki Shuts Down U.S. Auto Sales, Files For Bankruptcy

On a day that's likely to have many shocking twists and turns for Americans, here's some news that will surprise absolutely no one: Suzuki is exiting the U.S. auto market. According to Reuters, the Japanese company said earlier today that its auto division will file for bankruptcy in California...Read More»

Cadillac ELR
A123 Systems Bankrupt, Cadillac ELR Production, Zipcar Helps Voters: Car News Headlines

Today at The Car Connection, Ford recalled the 2011-2013 Fiesta and the oldest known production Ford found a new owner. Nissan demonstrated its new autonomous steering system, and Cadillac talked about production of the 2014 ELR. All this and more in today's car news, right here on The Car...Read More»

2011 Saab 9-4X Aero
Aw, Snap: Spyker Sues GM For Making Saab Go All Bankrupt

The Saab story would be hilarious if it weren't so heartbreaking. The latest news? Saab's current parent, Spyker, is suing the company's former parent, General Motors, for standing in the way of Saab's adoption by a third parent (China's Youngman) and thereby forcing Saab into bankruptcy. If you've...Read More»

2009 Saab 9-5 SportKombi
Saab Fans: Today's Your Lucky Day!

So, you're a Saab fan. You've endured three years of agony, hoping for the salvation of your beloved brand. You've followed a plotline worthy of Shakespeare, or at least Dynasty. And then, over the fall and winter, you watched the tragic "series finale", as the Saab you knew and loved finally began...Read More»

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