The New General Motors Company Launches Today - COMPLETE PRESS CONFERENCE VIDEO
Jul 10, 2009
New GM to Focus on Customers, Cars and Culture GM gets back to the business of building great cars and trucks, serving customer needs New company created from GM's strongest assets Four core brands backed by the nation's largest and strongest dealer network Streamlined organization on a global basis for faster decision ... Continue reading
"New GM" Out of Bankruptcy Sans "Bad" Assets
Jul 10, 2009
DETROIT July 10, 2009; Kevin Krolicki and David Bailey writing for Reuters reported that a new General Motors emerged from bankruptcy protection on Friday -- far more quickly than most industry-watchers had expected -- as a leaner automaker pledging to win back American consumers and pay back taxpayers. A whirlwind 40- ... Continue reading
Jul 10, 2009
Washington DC July 10, 2009; The AIADA newsletter reported that General Motors Co. completed the paperwork, and its good assets exited bankruptcy at 6:30 a.m. this morning. According to the Detroit News, the new company also announced a shake-up of its management team, eliminating its North American president position ... Continue reading
Jun 27, 2009
The 2007 New York Auto Show wasn't that long ago, in normal terms, but it was a lifetime ago in terms of what has happened in the auto industry since then. Interestingly, in The Auto Channel's coverage of General Motors at the 2007 Detroit Auto Show we posed the question, "Will GM even be in business in 2009?" In any e ... Continue reading
Jun 19, 2009
DETROIT - June 19, 2009: Although the U.S. Government has guaranteed the warranties of all General Motors vehicles during its reorganization period, some consumers are still worried about car servicing and resale value. However, despite dealership closings and brands disappearing, GM will still have the largest dealer ... Continue reading
GM's Saab Auto Secures Debt Writedown
Jun 17, 2009
VANERSBORG, Sweden June 17, 2009; Johan Ahlander writing for Reuters reported that Swedish carmaker Saab secured a key court ruling on Wednesday to cut billions of crowns in debt, paving the way for its proposed takeover by local sportscar maker Koenigsegg. The ruling came after owner General Motors, Saab's biggest cre ... Continue reading
Saab Ivestors Face Tough Road Ahead
Jun 17, 2009
DETROIT JUne 16, 2009; Tom Krisher and Louise Nordstrom writing for the AP reported that for the new owners of Saab Automobile to make money selling small numbers of cars across the globe, they have to return to the Swedish automaker's roots, industry analysts say. Somehow, a consortium of investors led by custom sport ... Continue reading
General Motors and Koenigsegg Group AB Reach Tentative Agreement on Saab - VIDEO ENHANCED
Jun 16, 2009
Zurich June 16, 2009; General Motors Corp. and Koenigsegg Group AB, a consortium led by Koenigsegg Automotive AB, today confirmed the details of a memorandum of understanding for the purchase of Saab Automobile AB that secures Saabâs future. The sale, expected to close by the end of the third quarter of this year, ... Continue reading
OJT: New GM Board Chair Vows to "Learn About Cars"
Jun 14, 2009
New York June 10, 2009; Amy Thomson and Katie Merx writing for Bloomberg reported that Edward E. Whitacre Jr. built AT&T Inc. into the biggest U.S. provider of telephone service over a 43-year-career. By his own admission, he becomes chairman of General Motors Corp. knowing nothing about the auto industry. The 6-foot-4 ... Continue reading
Sports Car Maker Koenigsegg Ready to Take over GM's Saab
Jun 13, 2009
OSLO, Jun 13, 2009; Aasa Christine Stoltz writing for Reuters reported that tiny carmaker Koenigsegg is ready to take over General Motor's (GMGMQ.PK) loss-making Saab unit, and says it has numerous good solutions to help get the company back on its feet, its major shareholder told daily Dagbladet. A source familiar wit ... Continue reading
The Fox is Now Guarding the GM Henhouse
Jun 12, 2009
By Marc J. Rauch Exec. Vice President/Co-Publisher THE AUTO CHANNEL General Motors is in need of a complete overhaulâ¦obviously. They need to get rid of the dead-weight in both product and personnel, which they appear to be trying to do if you donât count Buick and Pontiac. They have to regain the trust of inv ... Continue reading
Jun 11, 2009
DETROIT (AP) â According to Tom Krisher writing for AP, General Motors Corp. is nearing a deal to sell its Saab unit, but nothing has been finalized, a person briefed on the negotiations said Thursday. The news came as Swedish broadcaster SVT reported that Swedish luxury sports car maker Koenigsegg Automotive AB a ... Continue reading
China's Beijing Autos Waiting For Opportunity to Bid for Opel or Saab
Jun 10, 2009
SHANGHAI June 10, 2009; The AP reported that Beijing Automobile Industries Holding Co., China's fifth-largest carmaker, is maneuvering to acquire General Motors Corp.'s Opel or Saab units if other potential deals fall through, reports said Wednesday. A group of Beijing Autos executives is in Europe for talks on a possi ... Continue reading
Jun 9, 2009
The 2009 Saab 9-7X is a carryover model from the previous year. ... Continue reading
Beijing Auto May Bid for Saab After Opel Deal Fails
Jun 9, 2009
Beijing Auto may bid for Saab after Opel deal fails http://autonews.gasgoo.com/auto-news/1010816/Beijing-Auto-may-bid-for-S aab-a fter-Opel-deal-fails.html Shanghai, June 9 (Gasgoo.com) Beijing Automotive Industry Corp (BAIC), the local partner of Germany's Daimler in China, may bid for General Motors' Saab unit after ... Continue reading
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