Even as General Motors explores the sale of Opel, it will tap its European unit as a source for future Buick sedans.
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General Motors nailed down a key piece of its North American restructuring plan on Sunday (8 March), reaching a tentative agreement with the Canadian Auto Workers (CAW) that trims hourly labour costs at its Canadian operations and meets demands from governments in the country that have been asked to bail out the company.
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German Chancellor Angela Merkel said on Saturday that General Motors must improve the rescue plan for its German unit Opel if it wants government support for the struggling carmaker.
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General Motors factory workers in Canada will face a wage freeze through 2012, along with shorter vacations and higher contributions to benefit plans, under a tentative deal with GM Canada, the CAW said today.
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General Motors denied a weekend newspaper report its German unit Opel was preparing for insolvency. "This scenario is currently not on the agenda," a GM Europe spokesman told Reuters.
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General Motors has revealed to its parts suppliers a plan for rolling out a payment-assurance program that it hopes the federal auto task force will approve this month. GM would like to see up to $4.
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Even as General Motors explores the sale of Opel, it will tap its European unit as a source for future Buick sedans. For the past two years, GM has shared Opel vehicles and design with Saturn.
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General Motors factory workers in Canada will face a wage freeze through 2012, along with shorter vacations and higher contributions to benefit plans, under a tentative deal with GM Canada, the CAW said today.
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The CAW reached a tentative restructuring
agreement with General Motors early this morning, after days of round the
clock negotiations. CAW President Ken Lewenza said the tentative deal will
generate substantial cost savings for the company while protecting current
base wage rates and current pensions, and retaining the investment advantage
currently enjoyed by Canadian facilities compared to U.S. plants.
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German Chancellor Angela Merkel said today that General Motors must improve the rescue plan for Opel to win government support for the German subsidiary.
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German Chancellor Angela Merkel said on Saturday that General Motors must improve the rescue plan for its German unit Opel if it wants government support for the struggling carmaker.
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German Chancellor Angela Merkel said on Saturday that General Motors must improve the rescue plan for its German unit Opel if it wants government support for the struggling carmaker.
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Saturn is attracting interest from a "few" parties that might want to acquire the brand, a General Motors spokesman said Thursday.
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The EU's executive has called for a meeting between GM and EU member states affected by General Motors' financial problems amid growing concerns over GM's financial crisis.
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The EU's executive has called for a meeting between EU member states affected by General Motors' financial problems amid growing concerns over GM's financial crisis.
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Insolvency could be an option for Opel though it need not mean the General Motors' unit going bust, German Interior Minister Wolfgang Schaeuble said in a newspaper interview today.
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Insolvency could be an option for Opel though it need not mean the General Motors' unit going bust, German Interior Minister Wolfgang Schaeuble said in a newspaper interview on Friday.
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Insolvency could be an option for Opel though it need not mean the General Motors' unit going bust, German Interior Minister Wolfgang Schaeuble said in a newspaper interview on Friday.
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Saturn is attracting interest from a "few" parties that might want to acquire the brand, a General Motors spokesman said Thursday.
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