When General Motors reports fourth-quarter financial results today, investors will be looking for an update on its survival plan. What GM says about its remaining liquidity and options for U.S. government funding will be important, analysts say.
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When General Motors reports fourth-quarter financial results today, investors will be looking for an update on its survival plan. What GM says about its remaining liquidity and options for U.S. government funding will be important, analysts say.
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General Motors' Saab Automobile was forced to shut down production in Sweden today to iron out issues with a supplier and customs. Output is expected to resume Thursday, Saab Automobile spokesman Eric Geers said.
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General Motors has axed plans for a new engine plant and will instead spend about US$250m to build the 1.4-litre four-cylinder Family 0 engine for the Chevy Volt and Cruze in existing floor space in the company's Flint South engine plant located on Bristol Road.
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DETROIT -- General Motors has scrapped plans for a new engine plant in Flint, Mich., that would have built 1.4-liter engines for the Chevrolet Volt hybrid and Cruze compact.
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Daimler reaffirmed its position that the maker of luxury Mercedes-Benz cars has no interest in acquiring other brands such as General motors' Opel, which could immediately give it a sizable share of the small car market.
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The Swedish government can guarantee a European Investment Bank loan to General Motors unit Saab if a new owner that can cover half the necessary financing emerges, prime minister Fredrik Reinfeldt has said.
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The German government was set to give Opel credit to survive the global slump and financial distress at parent General Motors, a press report said on Tuesday.
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General Motors' Canadian unit is on the right track as far as its restructuring plan is concerned, but serious discussions will still be required before the struggling automaker qualifies for emergency aid, Canada's industry minister has said.
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General Motors has said it would temporarily shut down its Mexican auto plants for stretches of several days in March and April as recession-stricken consumers in the United States buy fewer cars.
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A presidential task force on auto industry restructuring will meet with key stakeholders this week. General Motors CEO Rick Wagoner and President Fritz Henderson are among those expected to participate Thursday, according to published reports.
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The Obama administration has added Wall Street expertise to its team overseeing the restructuring of General Motors and Chrysler, naming Steven Rattner as adviser to treasury secretary Timothy Geithner.
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General Motors will survive the current auto industry downturn without having to file for bankruptcy, but the number of auto industry suppliers could be cut in half, the chief executive of manufacturing advisory firm BBK has said.
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General Motors and Chrysler should soon overcome a major hurdle in meeting the terms of emergency government loans, but analysts have warned the cash-strapped automakers remain at high risk for bankruptcy.
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Workers at General Motors' European brands have called a day of action on Thursday to protest the company's restructuring plans.
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Belgium's region of Flanders has secured a 60 million euro ($77 million) deal for a Ford Motor plant in Belgium and will speak on Tuesday with General Motors about the future of struggling Opel.
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Belgium's region of Flanders has secured a 60 million euro ($77 million) deal for a Ford Motor plant in Belgium and will speak on Tuesday with General Motors about the future of struggling Opel.
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The CEO of Navistar International Corp. said Monday that he remained open to the possibility of acquiring General Motors' medium-duty truck unit while showing no interest in the facility where those vehicles are made.
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The top executive of Navistar International Corp. said today that he remained open to the possibility of acquiring General Motors' medium-duty truck unit while showing no interest in the facility where those vehicles are made.
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The top executive of Navistar International Corp. said on Monday that he remained interested in the possibility of acquiring General Motors' medium-duty truck unit -- though he has no interest in the facility where those vehicles are made.
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