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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Here are reactions to the General Motors and Chrysler LLC restructuring plans submitted Tuesday to the U.S. Treasury Department:
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Canadian prime minister Stephen Harper has said he is not concerned about the possibility of General Motors moving out of Canada as the Detroit-based company restructures its operations.
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The White House has said "more will be required" to ensure the viability of General Motors and Chrysler after the companies submitted restructuring plans.
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Saturn dealers are planning to spin off from General Motors into a new company that will seek to sell third-party vehicles under the Saturn brand, according to an Arizona dealer.
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The European element of General Motors' restructuring plan is a "work in progress", a spokesman said on Wednesday.
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General Motors' latest restructuring plan, submitted to the US government last night, dooms about 46,000 jobs (20,000 in the US), five additional factories, the Saab, Hummer and Saturn brands, over 2,100 US dealers and could require up to another US$16.6bn in federal loans plus "funding support" from Canada, Germany, the UK, Sweden and Thailand.
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General Motors is accelerating its restructuring plans for Europe and is considering "several" plant closures or spin offs. The company also says its Saab unit could file for reorganization as early as this month.
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General Motors is accelerating its restructuring plans for Europe and is considering "several" plant closures or spin offs. The company also says its Saab unit could file for reorganization as early as this month.
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General Motors is accelerating its restructuring plans for Europe and is considering "several" plant closures or spin offs. The company also says its Saab unit could file for reorganization as early as this month.
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The Canadian Auto Workers union said on Tuesday it would find cost cutting measures to remain competitive with the U.S. arms of General Motors and Chrysler LLC after the companies reached agreements in principal with the UAW.
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The Canadian Auto Workers union said on Tuesday it would find cost cutting measures to remain competitive with the U.S. arms of General Motors and Chrysler LLC after the companies reached agreements in principal with the UAW.
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General Motors and Chrysler LLC included bankruptcy scenarios in the viability plans they submitted to the federal government on Tuesday -- but both companies continue to reject the option.
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Yesterday was 'go time' for Chrysler and General Motors- two of the 'Big Three' automakers who have asked Uncle Sam for bailout funds to ensure their continued operation.
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General Motors and Chrysler LLC included bankruptcy scenarios in the viability plans they submitted to the federal government today -- but both companies continue to reject the option.
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General Motors is accelerating its restructuring plans for Europe and is considering "several" plant closures or spin offs. The company also says its Saab unit could file for reorganization as early as this month.
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The souring U.S. auto industry has claimed another victim: Product Action International LLC. The Indianapolis consulting firm that helps such clients as General Motors, Chrysler LLC and Toyota Motor Engineering and Manufacturing North America Inc.
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U.S. Sen. Carl Levin said today that General Motors might need federal assistance beyond the $13.4 billion in loans already approved if vehicle sales stay at depressed levels.
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Renault said it is looking for partners to share engine development costs. Renault already has partnerships with General Motors and Suzuki, which both buy Renault diesel engines.
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General Motors and the United Auto Workers union were reported to have made progress in concession talks while bondholders were offered proposals to slash GM's debt on Monday, a day ahead of the automaker's submission of a new survival plan to the US government.
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