Auto News 5

India's Motherson Sumi Systems plans to complete the purchase of troubled rearview mirror maker Visiocorp by the end of the month. Formerly called Schefenacker, Visiocorp is a key supplier to Ford Motor, General Motors, Volkswagen and Daimler. Full story...

Opel and Vauxhall will collapse within two years if they remain part of General Motors, workers' leaders have warned. Union leaders say GM's revival plan - due to be presented to the U.S. Full story...

Most US auto eyes will be on Washington DC this afternoon (GMT) when General Motors and Chrysler submit final restructuring/viability plans to the US treasury as part of the conditions of a first tranche of bailout loans at the turn of the year, and more help expected to be made available today. But nervous eyes will be watching from this side of the Atlantic, too as GM's European brands brace for the effects of the parent company's survival plan. Full story...

The U.S. government will release $4 billion in additional aid to General Motors today as planned, a White House aide said, ahead of the deadline for the automaker to submit a new survival plan. Full story...

The U.S. government will release $4 billion in additional aid to General Motors today as planned, a White House aide said, ahead of the deadline for the automaker to submit a new survival plan. Full story...

General Motors is to present a survival plan to the U.S. government today, showing officials how it plans to cut costs and pay back billions of dollars of bailout loans. Full story...

Sichuan Auto Industry Group Co, a tiny automaker in southwest China, has no interest in buying General Motors' Hummer unit, a senior company executive said. Full story...

Sichuan Auto Industry Group Co, a tiny automaker in southwest China, has no interest in buying General Motors' Hummer unit, a senior company executive said. Full story...

General Motors is expected to identify more than $1 billion in savings from additional plant closings and factory work-rule changes when it files a viability plan with the U.S. Full story...

General Motors is expected to identify more than $1 billion in savings from additional plant closings and factory work-rule changes when it files a viability plan with the U.S. Full story...

General Motors said today that it could take "unconventional and aggressive steps" to cut costs in Europe. Full story...

The German government will definitely give General Motors unit Adam Opel a requested financial guarantee but may be waiting US decisions on the parent company, a top Opel manager has said. Full story...

Sweden's government at the weekend dismissed a local television report that negotiations between General Motors and Sweden over carmaker Saab had broken down. Full story...

General Motors has said it could take "unconventional and aggressive steps" to cut costs in Europe, ahead of its deadline tomorrow (17 February) to present a recovery plan to the US government in return for federal loans. Full story...

New US president Obama won't appoint a single, powerful "car czar" to oversee the revamping of General Motors and Chrysler, as originally thought, and will instead keep the politically delicate task in the hands of his most senior economic advisers, US reports at the weekend said. Full story...

Automotive Lease Guide is slashing projected residual values of 2009 models sold by all of Chrysler LLC's brands and half of General Motors' brands. The cuts reflect the brands' uncertain futures, the guide company says. Full story...

Bob Lutz says General Motors' struggling Saturn brand probably won't survive. "My personal favorite would be to see Saturn survive and prosper," GM's vice chairman told Automotive News. Full story...

Bob Lutz has some pithy advice for his successor, Tom Stephens: Don't return to the bad old days at General Motors, when budget-conscious accountants would "cut two inches off the tailpipe" to save $100. Full story...

General Motors is restructuring its sales, marketing and aftersales operations in Europe to give its Opel, Chevrolet Europe and Saab brands more autonomy. Full story...

General Motors could close three or more European car plants this year as the cash-starved automaker desperately seeks to align its production with collapsing car sales. Full story...