The German state of Thuringia is ready to consider a stake in carmaker General Motors' Opel unit if the German subsidiary is spun off, the eastern region's economy minister Juergen Reinholz told a newspaper.
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General Motors has no concrete plans to shut its German unit Opel's factories, Juergen Ruettgers, the state premier of North Rhine-Westphalia, said after meeting GM's head Rick Wagoner in Detroit.
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A group representing General Motors bondholders fears the company's latest restructuring fails to sufficiently address challenges facing the company, a person familiar with negotiations between the group and GM has said.
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Even if General Motors and Chrysler obtain billions more in government loans, the threat of bankruptcy remains high for both, analysts have said.
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Swedish car maker Saab Automobile - abandoned by General Motors is today taking steps to stave off bankruptcy.
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General Motors' loss-making Swedish carmaker Saab could decide to file for reorganization today, Swedish radio reported. A reorganization filing would be made with a Swedish court after which the viability of continuing operations is assessed.
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General Motors has no concrete plans to shut its German unit Opel's factories, Juergen Ruettgers, the prime minister of North Rhine-Westphalia, said after meeting GM CEO Rick Wagoner in Detroit.
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General Motors, focusing on mainstream products in a battle to survive, has scrapped a unit that produced high-performance vehicles.
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The Swedish government has said it is not prepared to take over Saab, General Motors' loss-making Swedish subsidiary.
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Opel and the other European operations of U.S. carmaker General Motors have signaled they will unveil a plan for their future next week, German Economy Minister Karl-Theodor zu Guttenberg said on Wednesday.
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The day after General Motors presented it restructuring plan, the American giant held an international press conference, broadcast over the Internet, to review the situation before the media's main financial analysts.
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General Motors, focusing on mainstream products in a battle to survive, has scrapped a unit that produced high-performance vehicles.
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General Motors, focusing on mainstream products in a battle to survive, has scrapped a unit that produced high-performance vehicles.
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More details emerged today on the UAW concessions made to the Detroit 3 in advance of yesterday's viability plan filings by General Motors and Chrysler LLC.
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General Motors and Chrysler LLC made reasonable requests for additional federal aid, dealers say, considering the macroeconomic conditions plaguing the auto industry.
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General Motors and Chrysler LLC made reasonable requests for additional federal aid, dealers say, considering the macroeconomic conditions plaguing the auto industry.
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Late Tuesday, General Motors and Chrysler submitted their recovery plans to the government.
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Two key Michigan lawmakers said today that the additional $21.6 billion in loans requested by General Motors and Chrysler LLC was prompted by deteriorating car sales and is still far less than the cost of bankruptcies. John Dingell, D-Mich.
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Two key lawmakers from Michigan said today that the additional $21.6 billion in loans requested by General Motors and Chrysler LLC was prompted by deteriorating car sales and is still far less than the cost of bankruptcies.
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The Swedish government has said it is not prepared to take over Saab, General Motors' loss-making Swedish subsidiary.
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