General Motors is likely to follow Chrysler and make a quick sale of its best assets to a new operating company if it files for bankruptcy on 1 June, the automaker has said in a regulatory filing.
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General Motors said Thursday said that if it files for bankruptcy it would most likely pursue a quick sale of its best assets to a new operating company similar to the process now reshaping Chrysler LLC.
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Germany's hunt for a partner for General Motors' Opel unit has boiled down to two rival groups and the government wants both Fiat and Magna International to present a full plan within a week.
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Germany's hunt for a partner for General Motors' Opel unit has boiled down to two rival groups and the government wants both Fiat and Magna International to present a full plan within a week.
Full story...
Germany's hunt for a partner for General Motors' Opel unit has boiled down to two rival groups and the government wants both Fiat and Magna International to present a full plan within a week.
Full story...
U.S. lawmakers whose home districts include General Motors and Chrysler LLC operations in Michigan are weighing the possibility of legislation to help auto dealers being dropped by the two distressed companies.
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Staff at Fiat's Termini Imerese plant in Sicily stopped work and blocked a road on Thursday in protest at reports the factory would close if the automaker merged with Chrysler and General Motors Europe to create the world's second-biggest carmaker.
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Ford Motor Co. executives face stockholders today to detail the automaker's plans to complete a turnaround without resorting to U.S. government help and steer clear of the industry collapse now swallowing rivals General Motors and Chrysler LLC.
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General Motors and Chrysler collectively plan to axe up to 3,000 US dealers and are expected to begin sending notifications out as early as today (14 May), media reports said.
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Germany's hunt for a partner for General Motors' Opel unit has boiled down to two rival groups and the government wants both Fiat and Magna International to present a full plan within a week.
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Germany's hunt for a partner for General Motors' Opel unit has boiled down to two rival groups and the government wants both Fiat and Magna International to present a full plan within a week.
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Lear Corp. posted a $264.8 million net loss for the first quarter as the seating and electronics supplier was battered by plant closings at Chrysler LLC and General Motors and braces for more. Net sales dropped 44 percent to $2.17 billion.
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German government ministers will on Thursday discuss possible bridge financing for carmaker Opel until a partner for the General Motors' unit is found, government sources said.
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German government ministers will on Thursday discuss possible bridge financing for carmaker Opel until a partner for the General Motors' unit is found, government sources said.
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General Motors, which is preparing for a 40 percent cut in its dealer network by the end of 2010, this week will send warning letters to nearly 1,000 dealers, sources told Automotive News today.
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German government ministers will on Thursday discuss possible bridge financing for carmaker Opel until a partner for the General Motors' unit is found, government sources said.
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A cost-cutting deal between the Canadian Auto Workers and General Motors that was reached in March is no longer sufficient to ensure the viability of GM's Canadian operations and more cuts are needed, Industry Minister Tony Clement told Reuters...
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German government ministers will on Thursday discuss possible bridge financing for carmaker Opel until a partner for the General Motors' unit is found, government sources said.
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About 150 auto dealers from around the country fanned out across Capitol Hill today in a last-ditch effort to get lawmakers to try to slow planned cuts by General Motors and Chrysler LLC.
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Auto dealers lobbied Congress today to try and slow plans by General Motors and Chrysler LLC to cut their ranks. "A rapid cut of dealers is a bad idea," John McEleney, chairman of the National Automobile Dealers Association, said in statement.
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