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.
Today, General Motors shut down its jobs bank, a program for workers whose jobs were cut for any reason other than falling car sales. Ashley Milne-Tyte explores how the move affects the 1,600 workers involved.
Honda is shutting down its main British factory for four months starting today, and laying off 4,000 workers with pay until it re-opens. Stephen Beard reports why this move is an alarming indicator for the auto industry.
Despite a $6 billion loss last quarter and no help from federal bailout money, Ford still believes it can weather the storm on its own. Steve Henn crunches the numbers and explores whether the company can make it.
President Obama has ordered the EPA to reconsider whether states can set their own auto emissions standards. But if a waiver to states is granted, can the ailing auto industry meet the tougher requirements? Sam Eaton reports.