As the economy tanks, there are businesses out there that are finding that they are getting more business than usual. One of these businesses in particular is the auto repair business sector. Why are they getting so much business nowadays? There are no cars being shipped off the lot and more and more people are sticking with the cars that they currently have.

General Motors, which has already borrowed $13.4 billion from the federal government and is seeking billions more, announced on Thursday that its independent auditors have noted that the company's survival is in “substantial doubt.”

Fiat, the Italian automaker, agreed on Tuesday to take over 35 percent of the shares of Chrysler; an alliance which could cause a ripple effect throughout the automotive industry.

China's top economic planning agency has completed the layout of a stimulus package to save the automotive industry and will implement the plan soon after the cabinet approves it, a report by sina.com said Wednesday.

Billionaire investor and the owner of Trancinda corporation Kirk Kerkorian has sold all of his remaining shares of Ford Motors (NYSE: F) where he held 6.1% stake. The question is, how many percent is or was Kerkorian's share in Ford.

China's economic planning body is expected to roll out an auto industry rejuvenating plan as early as in the coming January, the Shanghai Securities News reported today, citing informed sources.

During his inspection tour of the southwestern city of Chongqing on Dec 21-22, Chinese premier Wen Jiabao expressed great concerns over the negative impacts of the global financial crisis on the city's automobile development and said the auto industry should be strongly supported by the government.

The U.S. President George Bush speaking on TV announced that "allowing the U.S. auto industry to collapse is not a responsible course of action." The federal authorities will provide $13.4 billion in loans to Detroit automakers, the White House said Friday. However, Bush says the car makers must pay back the loan.

Chrysler yesterday has announced that it will stop the production of cars for a month. As the auto bailout talks have stalled - perhaps rightfully until the U.S. carmakers start making better cars - GM had also six days ago announced "significant production cuts for Q1 '09."

China is considering taking new steps to help the automotive industry and encourage customers to buy vehicles with lower exhaust emissions, the Associated Press reported.

U.S.-based General Motors said Friday three plants in Mexico and three plants in Canada will close temporarily as it slashes production to cut costs. The president of the Canadian Auto Workers union Ken Lewenza said about 30,000 people will be without work for weeks, and that millions of jobs are at stake.