GMAC says 1st-qtr loss widens to $675M as credit markets weigh on auto, mortgage businesses

NEW YORK — GMAC Financial Services said Tuesday that it will not be automatically be forced to file for bankruptcy protection if General Motors Corp. is unable to restructure itself by its government imposed deadline.

General Motors’ China sales surge 50 percent to monthly record, led by Buicks, minivehicles

SHANGHAI — General Motors said Tuesday that sales in China soared 50 percent in April to a monthly record of 151,084 vehicles, thanks to strong demand for Buick brand cars and Wuling minivehicles.

Italy’s Fiat seeks to create automotive powerhouse with parts from Chrysler and GM

MILAN — Fiat is trying to build a global automaking powerhouse out of parts scavenged from broken-down General Motors and Chrysler.

AP Interview: CEO says GM can still avoid bankruptcy despite daunting restructuring list

DETROIT — With just a month left to check off an almost insurmountable list of restructuring moves, General Motors Corp.’s new CEO says it’s still possible that the company can finish everything and avoid following Chrysler into bankruptcy.

General Motors CEO says company can still avoid bankruptcy despite daunting restructuring list

DETROIT — General Motors CEO Fritz Henderson says the automaker still can avoid bankruptcy but it has a lot of work left before the government’s June 1 deadline.

AP IMPACT: Housing crisis focuses on Sunbelt, but plenty of empty homes in America’s Rust Belt

CINCINNATI — Meet the forgotten housing crisis.

Stocks add to already big gains following rise in pending home sales, construction spending

NEW YORK — Investors are rushing into stocks Monday as surprise increases in pending home sales and construction spending offered the latest signs that the economy is stabilizing.

German minister: Fiat wants Opel deal without running up debt, concept ‘interesting’

BERLIN — Fiat Group SpA aims to take over General Motors Corp.’s main European unit without running up debt in a deal that could require billions of euros (dollars) in government loan guarantees, Germany’s economy minister said Monday.

Stocks add to already big gains following rise in pending home sales, construction spending

NEW YORK — Wall Street is extending its rally as reports on housing and construction show improvement for March.

Housing crisis focuses on Sunbelt, but plenty of empty homes piling up in America’s Rust Belt

CINCINNATI — Meet the forgotten housing crisis.

German minister: Fiat wants Opel deal without increasing own debt, would keep 3 German plants

BERLIN — Germany’s economy minister says Fiat Group SpA wants to take over General Motors Corp’s Opel unit without running up debt and would preserve the three main German assembly plants if successful.

Stocks trade higher ahead of economic reports as upbeat mood about economy continues

NEW YORK — Wall Street is extending its rally as investors wait for the release of readings on housing and construction.

General Motors retains adviser to evaluate offers for sale of Saturn brand

DETROIT — GM says it is retaining a former company adviser to help it review potential buyers for its Saturn brand. The automaker says several parties expressed interest in buying the brand and its dealerships.

Stock futures rise as ahead of economic reports as Street looks to extend recent gains

NEW YORK — Wall Street looked to extend its rally Monday as investors awaited readings on housing and construction.

Fiat boss to discuss bid for GM’s Opel unit with German government

BERLIN — Fiat Group SpA’s chief executive was expected in Berlin for discussions Monday with the German government on the company’s hopes of taking over General Motors Corp.’s Opel unit — a prospect that has prompted skepticism among employee representatives.

Fiat’s Machionne set to make bid to form global auto powerhouse with GM’s Opel and Chrysler

ROME — Fiat Group SpA will be on the path to becoming a global automotive powerhouse if Chief Executive Sergio Marchionne has his way.

The Rev. Jesse Jackson says blacks suffering in auto industry failures, NAACP must help

DETROIT — The NAACP has fought for a century to bring equal and civil rights to blacks, but the Rev. Jesse Jackson believes the organization’s current battle is to help the troubled U.S. economy and struggling domestic auto industry.

Fiat confirms talks for GM’s Opel, with eye to creating single car company including Chrysler

ROME — Fiat Group SpA confirmed Sunday that it is in talks to buy most of General Motors Corp.’s European operations, taking another step toward creating a global automotive powerhouse.

Fiat chairman: GM’s Opel an “ideal” partner, an “extraordinary” opportunity

ROME — The chairman of Fiat SpA, which is in the process of acquiring U.S. automaker Chrysler, confirmed the Italian automaker’s interest in General Motors’ German unit Opel, calling it an “ideal partner” and a possible takeover by Fiat an “extraordinary opportunity.”

Auto workers gain 55 percent Chrysler stake, but don’t get power to run the company

DETROIT — The United Auto Workers union would appear to be the big winner in the Chrysler bankruptcy saga, having exercised its considerable political muscle to win a 55 percent stake in the country’s third-largest automaker.

Reports: Fiat head to discuss Opel takeover concept with German officials

BERLIN — The head of Italian carmaker Fiat SpA, which is in the process of acquiring U.S. automaker Chrysler, is continuing talks with German officials about a possible takeover of General Motor’s Opel unit, according to media reports Saturday.

While rivals struggle to stay afloat, Ford gains share of US auto market

DETROIT — Detroit’s Big Three is becoming Ford and the other two.

Stocks end quiet day higher after mixed economic, earnings data; Dow gains 44

NEW YORK — Traders put in more of the “buy” orders Friday that propelled the market in April to its best one-month performance in nine years.

Chrysler has brief bankruptcy court hearing as documents disclose plans to close 5 more plants

NEW YORK — Attorneys for Chrysler LLC said the company will file a motion by Saturday morning to sell substantially all of its assets to Italian automaker Fiat Group SpA, but that won’t include eight plants, including five that the automaker revealed it will shutter by the end of next year.

Chrysler has brief hearing in bankruptcy court as lawyers note urgency of a speedy resolution

NEW YORK — Attorneys for Chrysler LLC will ask a federal bankruptcy judge Monday to let the ailing automaker start using a new infusion of $4.5 billion in loans from the Treasury Departmentto keep operating under bankruptcy protection.

Ford says April sales fall 32 percent, gains retail market share on sales of Fusion

DETROIT — Record sales of its fuel-efficient Fusion helped Ford grab a bigger slice of the U.S. car market in April, even as its overall sales dropped 32 percent.

Stocks tread water on mixed economic data, weak reports from MasterCard and MetLife

NEW YORK — Traders didn’t make many big moves Friday after the rush of “buy” orders that propelled the market in April to its best one-month performance in nine years.

American Axle & Manufacturing reports wider 1st-quarter loss as production cuts batter sales

DETROIT — Auto parts supplier American Axle & Manufacturing Holdings Inc. on Friday posted a wider first-quarter loss as production cuts at automakers sent its sales tumbling.

GM’s Asia chief says regional operations to stay in company fold

SEOUL, South Korea — The Asia-Pacific operations of General Motors Corp. will stay within the company fold regardless of whether GM ends up declaring bankruptcy or not, the U.S. automaker’s regional chief said Friday.

Chrysler succumbs to bankruptcy, pins hopes on alliance with Fiat after months of struggle

DETROIT — After months of living on government loans, Chrysler finally succumbed to bankruptcy Thursday, pinning its future on a top-to-bottom reorganization and plans to build cleaner cars through an alliance with Italian automaker Fiat.