Car industry lifeline boosts Wall Street

Wall Street staged a big advance in the penultimate session of 2008 today after Washington’s latest lifeline to the car industry bolstered hopes that the US government will do whatever is necessary to cut short the recession.

Car industry lifeline boosts Wall Street
Tue, 30 Dec, 2008 - 22:32

Wall Street staged a big advance in the penultimate session of 2008 today after Washington’s latest lifeline to the car industry bolstered hopes that the US government will do whatever is necessary to cut short the recession.

Investors found solace in news that General Motors’ troubled financing arm received 5 billion of financing.

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CourtsBusinessHeathrowPlace: Wall StreetPlace: USPlace: TorontoPlace: IllinoisPlace: MichiganPlace: IndianaPerson: Jack AblinPerson: AblinPerson: Subodh KumarOrganisation: US governmentOrganisation: General Motors’Organisation: Treasury DepartmentOrganisation: GMAC Financial ServicesOrganisation: Bush AdministrationOrganisation: GMACOrganisation: Harris Private BankOrganisation: Wall StreetOrganisation: Conference BoardOrganisation: Thomson ReutersOrganisation: International Council of Shopping CentresOrganisation: NasdaqOrganisation: New York Stock ExchangeOrganisation: Subodh Kumar & AssociatesOrganisation: Institute for Supply ManagementOrganisation: GMOrganisation: Cerberus Capital ManagementOrganisation: Federal Reserve
<p>In the first eight months of the year, 116,099 new cars were registered, a 3.4% increase, of which 20,656 were electric cars representing a 37% year-on-year increase. File picture</p>

Electric car sales surge by 70% in Ireland, but Tesla's decline continues

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