DETROIT and SICHUAN, - General Motors (GM) and Sichuan Tengzhong Heavy Industrial Machinery Co., Ltd (Tengzhong), today announced that the companies have entered into a definitive agreement that will allow Tengzhong to acquire GM's premium all-terrain HUMMER brand.
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Korea Development Bank has asked General Motors to raise more money for South Korean unit GM Daewoo or face the calling back of maturing loans and foreign exchange forward contracts.
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General Motors has opened a science lab in Shanghai for automotive-related research and development.
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General Motors Thailand on Monday it had temporarily shut its manufacturing plant in the country due to a workers' strike.
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General Motors' Australian unit Holden will offer a Chevrolet Caprice Police Patrol Vehicle (PPV) derivative of its locally built long wheelbase line to law enforcement departments across North America.
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The chief executive of Motors Liquidation, the old shell of General Motors that remains in bankruptcy court, is hoping that the company will get court approval for a plan of liquidation by the middle of next year, he said.
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General Motors will now "move quickly" to wind down the Saturn brand after a proposed deal to sell the brand to dealer chain owner Penske Automotive Group fell through earlier this week.
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US congressional leaders have pressured General Motors and Chrysler to resolve complaints about dealer franchise terminations the two Detroit-based automakers pushed through during their brief government-funded Chapter 11 bankruptcies.
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Toyota and Ford are likely to outsell General Motors in the US market by 2015 when industry sales will finally return to levels last seen in 2000, according to IHS Global Insight.
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General Motors is on schedule to sign a contract next week selling a majority stake in Opel to the Magna International-led consortium with Sberbank, a media report said.
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Saab, currently being sold by General Motors, might not get the full SKR4.3bn (US$612m) loan it has requested from the European Investment Bank (EIB), a local paper Dagens Industri said, citing an anonymous source.
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Today we learned that Penske Automotive Group (PAG) has decided to terminate discussions with General Motors to acquire Saturn. This is very disappointing news and comes after months of hard work by hundreds of dedicated employees and Saturn retailers who tried to make the new Saturn a reality.
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Today we learned that Penske Automotive Group (PAG) has decided to terminate discussions with General Motors to acquire Saturn. This is very disappointing news and comes after months of hard work by hundreds of dedicated employees and Saturn retailers who tried to make the new Saturn a reality.
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A General Motors venture to sell cars online through eBay has proven short-lived and will end this week, a person familiar with the situation told Dow Jones Newswires on Tuesday.
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China has approved General Motors' plan to buy back part of former parts unit Delphi following an anti-monopoly probe, Chinese state media said on Tuesday.
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Detroit-based businessman and national dealer chain owner Roger Penske is expected to close a deal to buy General Motors' Saturn division tomorrow (30 September), a local paper reported, adding that an official announcement could be made on Thursday.
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The Spanish government wants European Union regulators to intervene in the proposed sale by General Motors of a majority stake in its Opel unit to a Magna International-led consortium.
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The Korea Development Bank (KDB) and General Motors expect to complete negotiations over whether to provide a new emergency loan for GM's struggling Korean unit in mid-October when the automaker's CEO Fritz Henderson is scheduled to visit Korea, industry sources have said.
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