The News Review:
- ‘Cash for Clunkers’ Bill Drives Some Senators Mad
- China’s Beijing Auto interested in Volvo: report
- Auto Suppliers Climb As New Chrysler Prepares To Emerge
‘Cash for Clunkers’ Bill Drives Some Senators Mad
FXNews
appendChild(script); A “cash for clunkers” bill that would allow motorists to trade in their gas-guzzling cars and trucks for vouchers worth up to $4500 toward more fuel-efficient vehicles is sending two senators into overdrive. The one-year program is aimed at boosting new auto sales and increasing the fleet of fuel-efficient vehicles on the nation’s highways. President bama has urged Congress to approve consumer incentives for new car purchases as part of the government’s work to restructure General Motors and Chrysler. n Tuesday the House approved its version 298-119 and now the legislation is pending in the Senate. Dianne Feinstein D-Calif.
China’s Beijing Auto interested in Volvo: report
Reuters
N) Volvo car unit the Wall Street Journal reported adding a new name to a list of potential Chinese bidders for the Swedish luxury car brand. A team of BAIC executives is likely to visit Volvo’s Gothenburg Sweden headquarters as early as Thursday to meet with its executives and tour its research-and-development and manufacturing facilities the paper said citing three people familiar with the situation. A spokesman for state-run BAIC China’s fifth-largest automaker said he was not briefed on the company’s interest in any foreign auto brands. BAIC expressed an initial interest in General Motors’ (. PK) European brand pel earlier this month but did not follow through. ther potential Chinese buyers for Volvo that have cropped up in news reports include Geely Automobile Holdings (.
Related from Zjkjw: Chinese government approves purchase of Volvo
Auto Suppliers Climb As New Chrysler Prepares To Emerge
Wall Street Journal
Leading the industry ahead were American Axle & Manufacturing Holdings (AXL) and Lear Corp. (LEA) whose shares have tossed and turned on the uncertainty about Chrysler’s and General Motors Corp. ‘s (GMGMQ) bankruptcies. American Axle which last year got 74% of its sales from GM rose 22.