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The Chinese heavy machinery maker that agreed to buy General Motors' Hummer brand may find the biggest stumbling blocks to the deal in its home country. Following last week's surprise announcement that Sichuan Tengzhong Heavy Industrial Machin...
He’s been a racing driver, is a race team owner who just won the Indy 500 for the 15th time, a highly successful and very wealthy businessman, and now Roger Penske is also the proud owner of the not quite so proud General Motors brand Saturn.
General Motors Corporation has revealed it has reached a tentative deal to sell its Hummer brand to a privately held Chinese company, part of an effort to drop four unprofitable vehicle lines and leave bankruptcy as a leaner company. GM, a day...
Update: Sichuan Tengzhong Heavy Industrial Machinery Co named as buyer. Revised story coming. Following General Motors declaring bankruptcy earlier today, the company has now announced it has entered into a Memorandum of Understanding (MoU) with a...
In a significant move GM Holden, the Australian subsidiary of General Motors, has been quick to assure that the dramatic moves in the United States will not have a direct impact on Australian workers or the Australian car industry. The Cha...
General Motors Corporation has said it will drop about 1600 US dealers as it struggles to slash billions of dollars in operating costs and debt ahead of an anticipated bankruptcy filing by the end of this month. Taken together with a similar a...
General Motors has decided to abandon one of its most revered nameplates, that of Pontiac, as part of its desperate measures to save itself from Chapter 11 bankruptcy in the United States. At a press conference in Detroit a short while ago the...
General Motors seems certain to pull its Cadillac brand from more than half its current European markets following the collapse of its regional distributor. It’s reported that the US carmaker will focus on markets such as Russia, Britain and...
They say a picture tells a thousand words. Here are just three powerful pictorial examples of the credit crunch closing in, in the United States. San Rafael Chevrolet Saab Hummer Hyundai closed its doors recently, leaving dozens of employe...
It’s been talked about a lot in recent months but now it seems that General Motors headquarters in Detroit is seriously considering a Chapter 11 bankruptcy filing ahead of a deadline tomorrow for a plan to deal with the company’s current financia...