GMAC LLC today said that as part of its $6 billion federal bailout and decision to become a bank, it will no longer have the exclusive right to provide low-interest loans to borrowers who buy General Motors cars and trucks. In a U.S.
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Federal aid to avoid bankruptcy has forced GMAC to change finance offers to General Motors vehicle buyers.
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The US government has paid out the first US$4bn in emergency loans to support General Motors but a payment to Chrysler is on hold.
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General Motors India December sales fell 35.95% year on year to 4,041 units last month.
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General Motors on Wednesday received the first $4 billion in emergency loans that the federal government has promised the automaker. Both GM and Chrysler had been scheduled to receive on Monday, Dec. 29, $4 billion from a total of $17.
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General Motors on Wednesday received the first $4 billion in emergency loans that the federal government has promised the automaker. Both GM and Chrysler had been scheduled to receive on Monday, Dec. 29, $4 billion from a total of $17.
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GMAC, the General Motors financing affiliate that received a $6 billion infusion from the government, completed a multibillion dollar debt swap today designed to bolster its capital. The lender said holders of $21.
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Just hours after GMAC LLC accepted a $6 billion government bailout package designed to enable more consumer car loans, General Motors announced new incentives.
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General Motors has received 10,000 advance orders for its new Camaro sports car, which offers 300 horsepower on a V-6 engine in the base model. But there may be a little glitch.
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Just hours after GMAC LLC accepted a $6 billion government bailout package designed to enable more consumer car loans, General Motors announced new incentives. GM said today it is offering 0 percent financing through Monday, Jan.
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General Motors, Chrysler LLC and the government today were making final arrangements to transfer the first installments of federal emergency loans to the automakers.
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Shares of General Motors jumped today after its auto finance affiliate GMAC won access to government lending programs, while analysts estimated GMAC might be seeking loans of more than $6 billion.
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General Motors has filed a lawsuit against a bankrupt auto-parts supplier, saying it is holding necessary equipment "hostage" which could potentially interrupt the launch of its new Chevrolet Camaro car. In a lawsuit filed on Wednesday in U.S.
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GMAC LCC won Federal Reserve approval today to become a bank holding company, giving it access to government lending programs, after owners General Motors and Cerberus agreed to cut their stakes.
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Sprinkled in among the resto-mods, classic cars and a Ford Tri-Motor airplane that cross the block at the Barrett-Jackson auction in Scottsdale, Ariz., in January will be some pieces of General Motors history.
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At the last Consumer Electronics Show in Las Vegas, General Motors CEO Rick Wagoner gave a keynote address (Detroit Invades Las Vegas, AW, Jan. 21), following techno übergeek Bill Gates.
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General Motors expects no major changes in its investment plans for the Asia Pacific in the next few years although it is cutting back on non-essential projects, its Asia Pacific president said on Tuesday.
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General Motors's US sales chief has played down speculation the automaker will axe Saturn, saying instead a new business model for the 'no-haggle' brand would be developed.
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Sprinkled in among the resto-mods, classic cars and a Ford Tri-Motor airplane that cross the block at the Barrett-Jackson auction in Scottsdale, Ariz., in January will be some pieces of General Motors history.
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General Motors may finally be getting its loan from the federal government, but that doesn't mean it's going to resume its former marketing-spending levels.
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