General Motors has started to notify 2,600 dealers of plans to eliminate them, and a dealers group is trying to block the effort by getting elected officials to intervene.
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General Motors has started to notify 2,600 dealers of plans to eliminate them, and a dealers group is trying to block the effort by getting elected officials to intervene.
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General Motors on Tuesday detailed plans to all but wipe out the holdings of remaining shareholders by issuing up to 60 billion new shares in a bid to pay off debt to the U.S. government, bondholders and the UAW.
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The death of the Saturn brand won't slow down the roll-out of General Motors' plug-in hybrid powertrain, Tom Stephens, vice president of GM's global product development said today.
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A looming General Motors bankruptcy won't deter bondholders from pressing ahead with demands for more favorable treatment in the automaker's restructuring, an adviser for the creditors said.
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The UAW is calling on the U.S. government to reject General Motors' latest restructuring plan, saying it would cut U.S. factory jobs and clear the way for increased imports from plants in Mexico, Korea and China.
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General Motors' up-for-sale Saturn brand could end up in the hands of the owner of the second-largest US auto retail chain, people familiar with the situation have said.
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Russia's Sberbank and GAZ Group are joining Magna in talks to buy a controlling stake in General Motors' Opel unit, Russian media reported on Tuesday.
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Magna International has confirmed it was in talks with General Motors and German government officials about possibly taking a minority stake in GM's Opel unit but stressed there was no assurance that any transaction would result from the talks.
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General Motors' sales in China rose 50% year on year last month.
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Global Vehicles U.S.A. Inc. has hired former General Motors marketing manager Larry Daniel as its senior vice president for sales and marketing, the company said Monday.
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Global Vehicles U.S.A. Inc., a fledgling importer of Indian-made vehicles to the United States, hired a former General Motors marketing manager to steer sales.
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Roger Penske is considering a bid for General Motors' Saturn brand, a source familiar with the auto entrepreneur's plans said today.
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Race team owner and automotive entrepreneur Roger Penske is a possible bidder for General Motors' Saturn brand, The Wall Street Journal reported this evening on its Web site, citing people familiar with the situation.
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Penske Automotive Group Inc., which is considering a bid for General Motors' Saturn brand, reported today that net income plunged by 50 percent in the first quarter as industry sales rates hit 30-year lows.
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Fiat is looking at taking over General Motors' operations in Latin America as well as those in Europe and discussions on a possible deal are under way, an industry source has said.
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The senior labor leader of General Motors' Opel unit, Klaus Franz, said Fiat's proposed takeover of GM's European business will lead to factory closures in England and Italy.
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The senior labor leader of General Motors' Opel unit, Klaus Franz, said Fiat's proposed takeover of GM's European business will lead to factory closures in England and Italy.
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The senior labor leader of General Motors' Opel unit, Klaus Franz, said Fiat's proposed takeover of GM's European business will lead to factory closures in England and Italy.
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Fiat chief Sergio Marchionne has outlined plans to merge Fiat, Chrysler and General Motors Europe into a new automotive group generating annual revenues of around EUR80bn and making 6-7m cars a year.
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