Opel's German factories would keep operating and the General Motors subsidiary would not be burdened with Fiat's large debt if the rival European automakers form a partnership, the online version of German news magazine Der Spiegel reported...
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Opel's German factories would keep operating and the General Motors subsidiary would not be burdened with Fiat's large debt if the rival European automakers form a partnership, the online version of German news magazine Der Spiegel reported...
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General Motors' profitable Chinese unit, and the Buick brand it relies on, would be protected if the automaker files for bankruptcy, a senior executive says.
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Cautious lenders have raised the stakes for dealers if General Motors or Chrysler LLC files for bankruptcy: At risk are the personal assets of many dealers. Lenders that provide inventory credit lines have required more than half of U.S.
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A nine-week summer shutdown at most of General Motors' North American plants could bankrupt as many as 10 percent of GM's top 300 parts makers, says a source familiar with GM's thinking.
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At a press conference held this morning in Detroit, General Motors announced that it will kill the Pontiac brand and reduce its US dealership network by half. An updated Viability Plan presented explains how GM "will accelerates the timeline for a number of important actions and makes deeper cuts in several key areas of it's operations."
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At a press conference held this morning in Detroit, General Motors announced that it will kill the Pontiac brand and reduce its US dealership network by half. An updated Viability Plan presented explains how GM "will accelerates the timeline for a number of important actions and makes deeper cuts in several key areas of it's operations."
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General Motors of Canada will follow the lead of the US branch by reducing the number of dealerships across the country by 42 percent as several nameplates will be tossed aside. The announcement came earlier this morning.
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General Motors is set to announce on Monday an accelerated restructuring that would close additional plants and pave the way for a debt exchange by the struggling automaker, sources briefed on the plan said today.
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German Economy Minister Karl-Theodor zu Guttenberg said on Saturday that Austrian-Canadian auto parts supplier Magna International is a potential investor in General Motors' struggling German unit Opel.
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General Motors is preparing to announce early next week that the Pontiac brand will be eliminated, said a source familiar with the company's plans.
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General Motors is preparing to announce early next week that the Pontiac brand will be eliminated, said a source familiar with the company's plans. The announcement will be made as part of an updated viability plan to the U.S.
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General Motors is preparing to announce early next week that the Pontiac brand will be eliminated, said a source familiar with the company's plans. The announcement will be made as part of an updated viability plan to the U.S.
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The U.S. Treasury has given General Motors another $2 billion loan for working capital but has not provided new working capital funds to Chrysler LLC, a transaction report for the Treasury's Troubled Asset Relief Program showed today.
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The U.S. Treasury has given General Motors another $2 billion loan for working capital but has not provided new working capital funds to Chrysler LLC, a transaction report for the Treasury's Troubled Asset Relief Program showed today.
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This week's news highlights can be easily summarised: Q1 results (including Ford's better than expected numbers out today), Chrysler, Fiat, Marchionne, General Motors, Opel, Chapter 11 and Shanghai.
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Fiat is not commenting on German media reports that it wants a controlling stake in General Motors' Opel/Vauxhall unit but one thing is clear: the Italian automaker will not be giving GM any cash.
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Fiat is not commenting on German media reports that it wants a controlling stake in General Motors' Opel/Vauxhall unit but one thing is clear: the Italian automaker will not be giving GM any cash.
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General Motors last night confirmed it is scheduling "multiple down weeks" at 13 assembly plants in North America, taking out about 190,000 vehicles from its production schedule in the second and early third quarter of this year.
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Magna International would be welcome as an investor in General Motors' Opel unit, a senior labor leader who sits on Opel's supervisory board told German television, reiterating that Opel labor opposed the idea of letting Fiat take control.
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