General Motors is engaged in due diligence on about 10 bidders for Saab, after the first round of bids for the Swedish brand attracted Chinese automakers, European investor groups and private equity firms, a media report said.
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General Motors Europe lost $2 billion (1.5 billion euros) in its first three months of 2009 after its revenues almost halved, the company said today. GM Europe's revenues fell to $5.3 billion from $9.
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General Motors is very concerned about potential lost sales if the automaker files for bankruptcy and wants a very quick process if it goes that route, CFO Ray Young said.
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General Motors will choose two to three preferred bidders for its Saab brand this week, industry sources tell Automotive News Europe. The sources would not say which bidders have the best chance to make it to the next round of talks.
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General Motors will choose two to three preferred bidders for its Saab brand this week, industry sources tell Automotive News Europe. The sources would not say which bidders have the best chance to make it to the next round of talks.
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General Motors will choose two to three preferred bidders for its Saab brand this week, industry sources tell Automotive News Europe. The sources would not say which bidders have the best chance to make it to the next round of talks.
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The strong early demand for the Chevrolet Camaro has General Motors looking to crank more units out of the Oshawa, Ontario, assembly plant.
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Fiat could shut plants in Austria, Britain, Germany and Italy as part of its plans to take over General Motors' European operations, German newspaper Handelsblatt said on Thursday.
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General Motors, facing a June 1 U.S. restructuring deadline to avoid bankruptcy, posted a $6 billion net loss in the first quarter and burned through $10.2 billion in cash as global auto sales plunged.
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General Motors is considering exchanging its Latin American and European operations for a stake in Fiat, a US newspaper said on Thursday.
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General Motors has reported a first quarter net loss of $6.0bn - its seventh quarterly loss in a row - saying the results "reflect continuation of the global economic downturn and lower industry-wide sales volume".
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General Motors, facing a June 1 U.S. restructuring deadline to avoid bankruptcy, posted its seventh straight quarterly loss in the first quarter as its global auto sales fell 28 percent. The company said it burned through $10.
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General Motors posted a $6 billion net loss and burned through $10.2 billion in the first quarter as it relied on a federal bailout to ride out a decline in global sales that overwhelmed cost-cutting efforts.
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Magna International has so far presented a more concrete proposal on General Motors unit Opel to the German carmaker than Fiat, Opel Supervisory Board member Armin Schild told Reuters.
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General Motors is eyeing a stake in Italian peer Fiat S.p.A. in exchange for the U.S. automaker's European and Latin American operations, the New York Times reported on its Web site.
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U.S. carmaker General Motors Corp is eyeing a stake in Italian peer Fiat S.p.A. in exchange for the U.S. automaker's European and Latin American operations, the New York Times reported on its Web site.
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General Motors could take a stake in the company that would be created by merging its European car business with Fiat SpA's auto unit, a source close to the situation said on Thursday.
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The proposal for General Motors' European assets that Fiat S.p.A. presented to the German government on Monday includes plans to shrink plants across Europe, a German newspaper reported Thursday.
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The proposal for General Motors' European assets that Fiat S.p.A. presented to the German government on Monday includes plans to shrink plants across Europe, a German newspaper reported Thursday.
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General Motors could take a stake in the company that would be created by merging its European car business with Fiat SpA's auto unit, a source close to the situation said on Thursday.
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