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Latest General Motors Corp. Stories

2009-05-15 07:19:43

U.S. auto giant General Motors Corp. was expected to sever ties with 1,000 car dealerships Friday, a day after Chrysler cut 789 dealers, observers said. CBS News said GM, restructuring itself in the midst of a prolonged sales slump, would notify about one-sixth of its dealerships that they were no longer a viable option for the company. They would have until October 2010 to close, CBS said. Analysts said the move could push GM into a legal corner that makes bankruptcy inevitable. Closing...

2009-05-13 10:00:00

Latest 3D technology brings emergency locations to life. DETROIT, May 13 /PRNewswire/ -- OnStar builds on its reputation for trailblazing emergency services by tapping technology from Microsoft Corp. to provide OnStar advisors with critical 3D details to more accurately guide first responders to hard-to-find or rural locations. Accurate location is the single most important factor in managing automotive emergency services, and OnStar will soon provide unparalleled location information to...

2009-05-13 11:35:41

U.S automobile dealers headed to Washington said a plan to eliminate dealerships would cost the country 180,000 jobs in the communities they serve. President Barack Obama's automotive task force has been pushing General Motors Corp. and Chrysler LLC to reduce dealerships as part of their long-range restructuring plans. By forcing the issue, it's going to have some real negative consequences in many communities, where dealers are the biggest private employers and are involved in the local...

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2009-05-12 20:16:08

The president of General Motors Corp. says GM has no plans to leave its world headquarters along the Detroit River just to save money but he didn't rule it out. The Detroit News reported Tuesday that the company could save millions of dollars in taxes by moving its headquarters to another city. The newspaper said the mayor of Warren, Mich., James Fouts, is trying to woo the automaker, touting his city's lack of an income tax. A move by GM would take about $6 million in annual property taxes...

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2009-05-11 10:04:44

General Motors Corp.'s chief executive officer said the odds of the largest U.S. automaker filing for bankruptcy have increased but are not yet a sure bet. In a Monday morning conference call with reporters, CEO Fritz Henderson said: Today it's more probable that we would need to resort to a bankruptcy process. But there's still a possibility and an opportunity for it to be done outside of a bankruptcy. To avoid bankruptcy, the task that we have in front of us is large, but we know that we...

2009-05-08 07:29:43

Toyota Motors Corp. of Japan, the world's largest automaker, said it lost $4.4 billion in the fiscal year ending in March, its first negative year since 1950. A year ago, the company posted a record profit of $17.3 billion, The New York Times reported Friday. Toyota had run just behind General Motors Corp. in annual sales volume in recent years, but finally took the No. 1 one position in 2008, ironically during a precipitous slump in worldwide automobile sales. The company's fiscal year ends...

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2009-05-07 08:33:06

General Motors Corp. said it lost $6 billion in the first quarter on a revenue drop of 47 percent as a slump in auto sales continued. The largest U.S. carmaker said it burned through $10.2 billion in cash in the first three months of the year, The Detroit News reported Thursday. The cash depletion was offset by $15.4 billion in government loans. By the end of the quarter, GM had $11.6 billion left in capital reserves, down from $14.2 billion at the end of the quarter a year ago, the newspaper...

2009-05-07 06:00:00

First quarter reported net loss of $6.0 billion Results reflect continuation of global economic downturn and lower industry-wide sales volume Losses partially offset by strong structural cost reduction due to aggressive restructuring efforts First Quarter 2009 2008 O/(U) 2008 Revenue (bils.): $22.4 $42.4 $(20.0) Reported automotive EBIT...

2009-05-05 17:53:32

Penske Automotive Group Inc. says it is looking at purchasing the Saturn brand from U.S. auto giant General Motors Corp. Penske was founded by Roger Penske, the former race car driver who owns Detroit Diesel Corp.,The Detroit News reported Tuesday. He is also a shrewd businessman and has proven himself time and again, auto analyst Aaron Bragman of HIS Global Insight told the News. In Detroit, he's a bit of a local hero, Bragman said. Tony Pordon, a spokesman for Penske Automotive Group,...

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2009-05-05 11:00:30

Italian automaker Fiat said it would continue to reach across borders as it pursues a deal to purchase General Motors Corp.'s European operations. Fiat's board of directors said in a statement it had given Chief Executive Officer Sergio Marchionne permission to pursue Opel in Germany and Vauxhall in Britain, both owned by GM. Marchionne is chasing a goal of building 5.5 million automobiles a year, The Washington Post reported Tuesday. Fiat currently makes 2.2 million cars a year. Marchionne...


Latest General Motors Corp. Reference Libraries

General Motors Headquarters, Detroit, Michigan
2014-04-13 09:20:18

General Motors Company (GM) is an American automobile manufacturer located in Detroit Michigan. They also control multinational manufacturers around the globe. They design, produce, market and distribute vehicles and parts, as well as selling financial services. GM has ten brands of vehicles produced in 37 countries. They include, Chevrolet, Buick, GMC, Cadillac, Opel, Holden, Vauxhall, Wuling, Baojun, Jie, Fang and UZDaewoo. GM does business with 157 different countries and employees...

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Word of the Day
malpais
  • The ragged surface of a lava-flow.
'Malpais' translates from Spanish as 'bad land.'