General Motors plans to close factories and ship some US production overseas has become a "real problem" in negotiations with auto workers on concessions, but changes in the company's business plan are possible, two US lawmakers have said.
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General Motors and the Canadian Auto Workers (CAW) must reach a cost-savings deal by 31 May to qualify for a government rescue package, Canada's industry minister Tony Clement said, days after the two sides failed to meet an earlier target date.
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The German government has agreed with a group of state-owned banks to provide bridging loans for General Motors' Opel/Vauxhall unit to help the carmaker maintain liquidity through the third quarter of this year, giving it more time to complete negotiations with potential new owners.
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General Motors has received three bids for its Opel division, Bloomberg said today, citing a GM spokesman. GM would not name the bidders but reports suggested they are Fiat S.p.A.
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Fiat S.p.A confirmed it has submitted an offer for General Motors' Opel/Vauxhall brands as the German government extended a deadline for potential investors to bid. German press reports said Canadian auto-parts supplier Magna International Inc.
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Fiat S.p.A confirmed it has submitted an offer for General Motors' Opel/Vauxhall brands as the German government extended a deadline for potential investors to submit bids.
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Former Chrysler LLC President Tom LaSorda has joined Penske Automotive Group to advise the retailer on a possible bid for General Motors' Saturn brand.
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The German government has agreed with a group of banks on a way to provide bridge financing for General Motors' unit Opel in case it is needed, the European Investment Bank (EIB) said.
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Former Chrysler LLC President Tom LaSorda has joined Penske Automotive Group to advise the retailer on a possible bid for General Motors' Saturn brand.
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Former Chrysler LLC President Tom LaSorda has joined Penske Automotive Group to advise the retailer on a possible bid for General Motors' Saturn brand.
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General Motors says it doesn't expect to reach debt-reduction agreements with the UAW and bondholders by a May 26 expiration date.
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General Motors and the Canadian Auto Workers must reach a cost-savings deal by May 31 to qualify for a government rescue package, the Industry Minister Tony Clement said Tuesday, days after the two sides failed to meet an earlier target date.
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General Motors and the Canadian Auto Workers must reach a cost-savings deal by May 31 to qualify for a government rescue package, the industry minister said Tuesday, days after the two sides failed to meet an earlier target date.
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The German government has agreed with a group of banks on a way to provide bridge financing for General Motors' unit Opel in case it is needed, the European Investment Bank (EIB) said.
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German public banks have agreed with the German government to extend temporary financing to General Motors' European unit, Opel, during efforts to shift it to new ownership, Berlin sources said Tuesday.
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Saab has selected three suitors for continued talks as it searches for a new owner, the money-losing General Motors unit said in a court filing on Tuesday.
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Saab has selected three suitors for continued talks as it searches for a new owner, the loss-making General Motors unit said in a court filing on Tuesday.
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Swedish carmaker Saab has selected three suitors for continued talks as it searches for a new owner, the loss-making General Motors unit said in a court filing on Tuesday.
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Fiat CEO Sergio Marchionne and leaders of Germany's IG Metall union, including head Berthold Huber, are scheduled to meet today (19 May) as Marchionne attempts to win the union's support for his bid to buy a majority stake in Opel from General Motors.
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