Canada Unsatisfied with Chrysler's Viability Plan Details
23 Feb 2009, 16:31 UTC · By: Bogdan Popa / Even though Chrysler initially believed that sending the viability plan to the Canadian government would be enough to receive the money it needs, it is actually not as country's officials recen...
Saab Will Get Aid if It Finds a New Owner
23 Feb 2009, 15:07 UTC · By: Daniel Patrascu / The Swedish government is considering offering support to the struggling Saab manufacturer provided that the company finds an investor to back up the loan, Reuters reports. With GM backing away slow...
Saturn Asks Dealers 60 Days of Patience
23 Feb 2009, 08:10 UTC · By: Daniel Patrascu / Saturn, the collateral victim of GM's plan for survival, has asked its dealers not to close for 60 days while a GM-Saturn joint task force together with outside consultants determine whether a ...
GM Sends Life-Saving Plan to Canada
22 Feb 2009, 09:36 UTC · By: Bogdan Popa / GM Canada today announced that it submitted the viability plan to the Canadian and Ontario Governments, with the United States-based automaker expressing its confidence that together with the state ...
Saab and Opel Could Sink Without Aid
22 Feb 2009, 09:15 UTC · By: Daniel Patrascu / GM’s financial problems are, as expected, influencing all its assets, local and foreign alike. This is the case with the US based mother company, the European branch could also face collapse i...
Opel Says It Needs 2.6 Billion Euros in Govt. Funds
20 Feb 2009, 16:43 UTC · By: Bogdan Popa / As part of a broader campaign to finance a 3.3 billion euro ($4.15 billion) liquidity gap through 2011, Opel today said it needs approximately 2.6 billion euros from the German government. The rema...
Saturn Sends Encouraging Letter to Owners
20 Feb 2009, 14:45 UTC · By: Daniel Patrascu / The viability survival plan GM presented to the US Government on Tuesday contained, as we already reported, a large numbers of measures the company is going to take in order to survive the crisis an...
Saab Officially Files for Reorganization
20 Feb 2009, 10:01 UTC · By: Bogdan Popa / General Motors has just announced that its Swedish brand Saab will file for reorganization under a Swedish court process in order to become an independent company suitable for investment. In essence...
GM Wants Saturn Independent by 2011
20 Feb 2009, 08:24 UTC · By: Bogdan Popa / As part of the broader attempt to return to profitability in two years, General Motors started a massive cost-cutting plan, including closing, discontinuing or selling some of the brands it owns in ...
Chrysler CEO Nardelli Gets $1 a Month. Or Does He?
19 Feb 2009, 10:50 UTC · By: Daniel Patrascu / The struggling American automotive industry has made all of the executives' decisions, plans, and even their salaries, become subject of public debate. After GM and Ford had their leaders...
Sweden Disappointed with GM's Saab Plans
19 Feb 2009, 08:51 UTC · By: Bogdan Popa / Following General Motors' statement that Saab may file for bankruptcy by the end of the month, Swedish officials expressed their disappointment regarding the parent company’s plans, point...
GM's Plan for Europe
18 Feb 2009, 09:26 UTC · By: Daniel Patrascu / GM's need for money does not restrict itself to the US market. The company's European division is waiting to find out the overseas events that will affect its operations. GM‘s Europ...
GM, Chrysler Submit Survival Plans
18 Feb 2009, 08:05 UTC · By: Daniel Patrascu / As we reported throughout the past few weeks, both GM and Chrysler were due yesterday to submit their survival plans as they are looking for additional financial aid to get through the economic cris...
GM Will Get $4 Billion Aid...
17 Feb 2009, 15:05 UTC · By: Daniel Patrascu / ...or at least this is what a White House aide said today, as reported by Reuters. The news, or should we say pat on the back, comes only hours away from the deadline set for the company to present ...
GM Europe to Cut Costs, Fire Thousands
17 Feb 2009, 08:08 UTC · By: Bogdan Popa / Following yesterday's announcement that the American automaker may close the doors of about 3 production facilities in the near future, General Motors today said the restructuring plan might co...
Three GM Europe Plants Risk Closure
16 Feb 2009, 11:32 UTC · By: Daniel Patrascu / The rush for cash the American company is involved in could result in the closing of three or more plants in Europe. The measure could be taken as part of the company's goal to reach 1.6 billio...
GM Executives Meet Merkel to Discuss about Opel
13 Feb 2009, 14:24 UTC · By: Madalina Iancu / Opel's future is still in doubt as GM has not yet decided what to do with the brand. Today's meeting, however, might make some light in the whole insecure situation. According to Autone...
GM's Daewoo Calls for Financial Aid
12 Feb 2009, 15:31 UTC · By: Bogdan Popa / With the recession still making victims among global automakers, more and more companies decide to ask for support from their local governments, explaining that financial aid is absolutely mandatory...
China Beats US at Car Sales
11 Feb 2009, 13:59 UTC · By: Madalina Iancu / Although many doubted the potential of the world's biggest continent to beat US when it comes to car sales, it seems that the impossible turned into possible and China vehicle sales managed to ...
Lutz: "You're Not Rid of Me Yet"
10 Feb 2009, 11:05 UTC · By: Daniel Patrascu / As we reported yesterday, GM's Vice Chairman-Global Products Development will step down in April and take a more passive role in the company until his retirement at the end of 2009. Bob Lutz de...