General Motors CEO Fritz Henderson reluctantly agreed Wednesday to comply with a senator's request to turn over the bankrupt automaker's list of dealerships to be eliminated.
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General Motors and Chrysler will save billions of dollars by eliminating a total of 3,400 underperforming dealerships selling discontinued brands over the next two years, GM CEO Fritz Henderson and Chrysler President James Press said today.
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General Motors and Chrysler LLC, both operating under Chapter 11 bankruptcy protection, will try today to ease congressional concern, and in some cases anger, over their plans to slash more than 2,400 dealerships.
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The CEOs of General Motors and Chrysler LLC told Congress today that slashing dealer networks were crucial for saving their companies. "We have no choice.
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A little-known player in China's heavy machinery industry emerged from nowhere to agree to buy General Motors' Hummer brand, raising eyebrows among peers who question whether it can turn around the U.S. auto maker.
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The sale of General Motors' European Opel and Vauxhall units to Magna International may not be completed until close to the end of this year according a lawyer involved in the process.
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General Motors is offering some dealerships $100,000 to $1 million to wind down their businesses over the next 17 months, according to three sources familiar with the proposals.
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Magna International aims to close a deal with General Motors over its Opel unit by the end of September, Magna's co-CEO Siegfried Wolf said on Wednesday.
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General Motors' planned disposal of a 65 percent stake in Opel to a consortium led by Magna International could take another six months, a lawyer involved in the process said on Tuesday.
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The Tengzhong company confirmed that negotiations were underway with General Motors to acquire the Hummer brand. If all goes well, and we should have an answer before the end of the third quarter this year, not only will the famous brand survive, but it could also thrive.
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General Motors' Saab Automobile unit has narrowed talks with potential buyers for the loss-making Swedish brand to two, Saab's top executive was quoted as saying in a Swedish business daily on Tuesday.
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General Motors is offering some dealerships $100,000 to $1 million to wind down their businesses over the next 17 months, according to three sources familiar with the proposals.
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With General Motors wavering on the future of its California joint venture with Toyota Motor Corp., the Japanese automaker may consider buying out GM's stake.
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Magna International Inc. is prevented by an agreement with General Motors from selling Opel cars in the United States and, for now, in China, the chairman of the Canadian auto parts company said today.
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The three Japanese automakers who partner with General Motors in one way or another -- Toyota, Suzuki and Isuzu -- intend to continue cooperating with the new GM when it emerges from Chapter 11 reorganization.
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With General Motors wavering on the future of its California joint venture with Toyota Motor Corp., the Japanese automaker may consider buying out GM's stake.
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At 8:15 a.m. on Monday, a General Motors executive gave hourly workers at its assembly plant in Pontiac the news they feared most: The plant would close by October, robbing most of them of their jobs.
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Suzuki has warned it could lose hundreds of millions of dollars in loans to General Motors.
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Ford Motor Co. and General Motors in May posted their smallest monthly sales declines since last summer, helping the overall U.S. industry improve again while Honda and Toyota dropped more than 40 percent. Overall sales fell 33.
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General Motors may register for an initial public stock offering as early as the first quarter of 2010, GM CFO Ray Young said during a call with analysts this morning. Young said the majority new owner of a reorganized GM, the U.S.
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