Yesterday, General Motors announced the launch of a new Satisfaction Guarantee program to eligible buyers of new Chevrolet, Buick, GMC and Cadillac vehicles. This new incentive is part of the larger "May the Best Car Win" marketing campaign that aims to demonstrate that GM has total confidence in its product line-up when compared to the most competitive vehicles in each segment.
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General Motors will sell Chinese joint venture partner Shanghai GM complete vehicles, vehicle kits, machinery and equipment worth US$607m.
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General Motors' chief financial officer Ray Young is to leave soon, according to media reports.
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General Motors today appeared to have bowed to strong German regional and federal political pressure as it ended months of speculation by announcing its board "supports" a bid from the Magna International consortium with Sberbank to buy a majority 55% stake in its European Opel/Vauxhall operations.
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General Motors today appeared to have bowed to strong German regional and federal political pressure as it ended months of speculation by announcing its board "supports" a bid from the Magna International consortium with Sberbank to buy a majority 55% stake in its European Opel/Vauxhall operations.
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General Motors's board of directors bowed to German government pressure and recommended Magna International to buy Opel, a person "familiar with the decision" has said. The wording of an Opel Trust invitation to a press conference and breaking media reports all appear to confirm that.
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General Motors is expected finally today to announce the fate of Opel and there is increasing speculation it will this afternoon say it is keeping the European unit.
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General Motors today announced that its Board of Directors supports a bid from the consortium of Magna International Inc. and Sberbank to buy a majority stake in its European Opel/Vauxhall operations.
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Germany has yet to decide whether it could offer financial aid for Opel if the company remains with its US parent General Motors, German finance minister Peer Steinbrueck said on Wednesday.
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Day Two of General Motors' board meeting is dawning with no real signs of that Opel Decision and even the possibility it would be deferred again.
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Swedish newspaper Dagens Nyheter reported that First Auto Works is the Chinese carmaker set to help finance luxury sportscar maker Koenigsegg's planned purchase of Saab Automobile from General Motors.
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Luxury sportscar maker Koenigsegg Automotive has presented the Swedish government with a new plan for financing its purchase of Saab Automobile from General Motors, backed by an unnamed Chinese investor.
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The latest speculation swirling around General Motors' possible sale is that the board does not favour the Magna consortium because that would mean handing over intellectual property to Russia - consortium partners Sberbank and GAZ.
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According to Brent Dewar, vice president of Chevrolet Global, General Motors is not planning to add new Sprint Cup partners for the upcoming 2010 season.
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German finance minister Peer Steinbrueck told US treasury secretary Timothy Geithner at the weekend that Germany still wants the Magna International consortium to buy Opel but noted General Motors' economic situation might have changed since it originally said it would seek a buyer for the European unit.
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German economy minister Karl-Theodor zu Guttenberg said on a Friday TV broadcast the government expected the General Motors board to make a "fundamental decision" on the future of Opel next week.
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US antitrust officials have approved General Motors' plans to acquire some assets from bankrupt Delphi.
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General Motors expects the governments of Spain, UK and Poland to provide about EUR1bn (US$1.4bn) in aid to help restructure Opel-Vauxhall operations, a person familiar with the matter has told Dow Jones.
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DETROIT - General Motors Company today announced that Michael J. Robinson will become vice president, environment, energy and safety policy. Robinson will replace Beth Lowery, who has elected to retire effective October 1.
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General Motors sales in China in the first eight months of 2009 rose 49.6% year on year to 1,111,401 units.
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