GM and Chrysler say they need another $14 billion to stay in business. The companies offered survival plans promising draconian cuts in union contracts and other expenses. Janet Babin explores what else will be involved.
Today's the deadline for GM and Chrysler to tell the government how they'll repay taxpayers and become viable again. Janet Babin reports a key to GM's plan is more concessions from its creditors and union workers.
As Chrysler and GM prepare their recovery plans, President Obama is setting up a task force to take charge of restructuring the crippled auto industry instead of appointing a "car czar." John Dimsdale reports on the president's plan.
GM and Chrysler have until tomorrow to submit their viability and loan payback plans to the federal government. The companies are expected to cut costs, cut jobs and cut down on union benefits. Jennifer Collins reports.
Toyota is offering buyouts to some 18,000 workers and shortening its work week by eight hours at some plants in efforts to cut back U.S. production. Jeremy Hobson reports the automaker is doing everything possible not to lay off workers.
Auto sales in China are expected to come out ahead of U.S. sales by 20 percent. This may not stay the case in the long term, but China will still be top priority for automakers worldwide. Scott Tong reports.