Both Ford Motor Company and General Motors are reporting that sales for the month of December dropped more than 30%.

INSIDE: Mary Conway reports Ford Motor is hoping to shine a positive light on potential sales figures for 2009  Watch Video

Chrysler has reported a staggering decline in vehicle sales for December 2008. U.S. sales for the automaker plunged 53 percent. Chrysler is blaming a weak economy for the massive drop.

Chrysler LLC's chief says the automaker has received an initial $4 billion loan from the U.S. Treasury Department.

The federal government will get 5 million preferred shares of GMAC LLC in exchange for its $5 billion capital injection to save the lender from bankruptcy protection.

Automotive supplier Visteon Corp. says it will shift more than 2,000 workers to a four-day week and cut pay by 20 percent as tight credit and collapsing sales cause huge industry losses.  INSIDE: Tell us what you think

General Motors Corp. may be well on the way to keeping its New Year's resolution to restructure with the arrival of the first tranche of $9.4 billion in low-cost loans from the U.S. Treasury.

The financing arm of General Motors Corp. has completed a complicated debt deal that was designed to raise capital and help the auto loan company ride out a historic collapse in auto sales.

The Treasury Department says it will decide on a case-by-case basis whether other companies connected to the struggling automotive industry should be provided emergency aid from the government's $700 billion bailout pot.

A rally is scheduled for this weekend in Warren to show support for the troubled Detroit automakers.

The struggling financing arm of General Motors Corp., rescued by $5 billion in federal aid, plans to use some of the money to make cars and trucks more affordable to a larger pool of customers.   INSIDE: Tom Wait says this positive impact is trickling down to dealers and customers Watch Video

Let your car parallel park itself -- without a single scratch or ding to your bumper. Ford Motor Co. announces its new self-parking technology, which will debut as an option on the 2010 Lincoln MKS sedan and the new seven-passenger Lincoln MKT luxury crossover vehicle.   INSIDE: Watch Val Clark's report Watch Video

Chrysler has canceled its annual rewards meeting for top-performing dealers for the first time in decades as it seeks to cut costs in the tough auto market.

General Motors Corp. said Tuesday it will offer financing as low as zero percent over the next week for several 2008 and 2009 models as the automaker makes a big year-end sales push. INSIDE: Details on the program and GMAC new federal funding Watch Video

The Treasury Department said Monday that it will provide $5 billion to GMAC Financial Services LLC, the ailing financing arm of General Motors Corp., from the $700 billion bank rescue program.

The Treasury Department today announced that it will purchase $5 billion in senior preferred equity with an 8% dividend from GMAC LLC as part of a broader program to assist the domestic automotive industry in becoming financially viable.

Billionaire investor Kirk Kerkorian has sold his remaining shares in Ford Motor Co., according to a spokeswoman for his investment company Tracinda Corp.

As General Motors and Chrysler receive the first payments under bridge loans approved by President Bush, the companies are looking for ways to eliminate dealerships.

The financing arm of General Motors Corp. has until a minute before midnight Eastern time to clear a final hurdle in its quest to become a bank holding company

UPDATED: GMAC Financial Services' transition into a bank holding company should buy the troubled lender some time to turn itself around, but the cost is a loss of control for its owners General Motors Corp. and Cerberus Capital Management.

The last sport utility vehicle to be assembled at General Motors' plant in Janesville has rolled off the line.

UPDATED: A local auto supplier may be shutting its doors, and over a thousand jobs could be lost.

INSIDE: Tom Wait says while workers are blaming General Motors for the shutdown, there's worry from employees over what the future holds Watch Video

Hyundai and its affiliate Kia have cut their joint 2008 sales forecast by 12.5 percent and say they will freeze pay for managers amid slumping vehicle demand.

UPDATED: Toyota Motor Corp. slashed its earnings forecast Monday, projecting that it would report its first annual operating loss for the fiscal year through March - its first such loss since it began reporting results in 1941.

Vice President Dick Cheney blamed Congress for failing to bail out the auto industry, saying the White House was forced to step in to save U.S. car companies.

Cerberus says it will invest the first $2 billion of Chrysler Financial profits back into the financing arm's parent automaker.