Chrysler Files for Bankruptcy Protection

Chrysler filed for bankruptcy protection and announced it will temporarily halt most of its vehicle production while it completes a deal with Italian carmaker Fiat designed to revive its tattered fortunes.

US Auto Sales Drop at Least 40 Pct

Major automakers' U.S. sales continued their deep slump in February, putting the industry on track for its worst sales month in more than 27 years.