U.S. carmaker General Motors could cut between 9,000 and 10,000 jobs as part of a restructuring of its European operations, Nick Reilly, interim head of GM's European business, said on Tuesday.
General Motors Co said on Monday it lost $1.2 billion in a bankruptcy-shortened third quarter, but it vowed a quick repayment of $8 billion owed to the United States and Canada.
General Motors Co posted a quarterly loss on Monday but said stabilizing sales since its bankruptcy would allow it to begin paying down $8.1 billion in debt to the United States and Canada next month.
Previous German pledges to provide state aid to carmaker Opel no longer apply now that General Motors has said it can restructure its European arm alone, German Economy Minister Rainer Bruederle said.
General Motors Co. will announce on Monday it plans to start repaying a $6.7 billion loan to the U.S. Treasury by year-end due to modest operating improvements, a source knowledgeable about the situation said.
General Motors Co posted a quarterly loss on Monday but said stabilizing sales since its bankruptcy would allow it to begin paying down $8.1 billion in debt to the United States and Canada next month.
General Motors Co. will announce on Monday it plans to start repaying a $6.7 billion loan to the U.S. Treasury by year-end due to modest operating improvements, a source knowledgeable about the situation said.
General Motors Co. will announce on Monday it plans to start repaying a $6.7 billion loan to the U.S. Treasury by year-end due to modest operating improvements, a source knowledgeable about the situation said.
Swedish carmaker Koenigsegg will terminate more than a third of U.S. Saab dealers when it completes its purchase of the premium brand from General Motors Co, GM said in a letter to dealers on Thursday.
General Motors reiterated on Friday it wanted state aid to help restructure European arm Opel after Germany's economics minister said the carmaker would not ask European taxpayers for help.
General Motors Co said on Wednesday it will hire 600 workers for three Brazilian plants in the state of Sao Paulo to boost output as demand for automobiles grows in Latin America's largest economy.
German Economy Minister Rainer Bruederle said after meeting General Motors executives on Wednesday that the U.S. carmaker needed 3.3 billion euros ($4.9 billion) for its plans to restructure its Opel unit.
General Motors Co Chairman Ed Whitacre on Tuesday urged the Obama administration to give the automaker less restrictive pay caps and said it was too early to discuss the timing for the automaker to become a public company again.
General Motors Co Chairman Ed Whitacre on Tuesday urged the Obama administration to give the automaker less restrictive pay caps and said it was too early to discuss the timing for the automaker to become a public company again.
The board of General Motors Co has approved a plan to produce a plug-in hybrid for the luxury Cadillac brand that will adapt technology developed for the upcoming Chevrolet Volt, according to people briefed on the decision.
General Motors named Nick Reilly, head of the U.S. carmaker's international operations, as interim head of its European business while it searches for a new chief executive for the Opel unit.
German Chancellor Merkel urged General Motors to quickly present a restructuring plan for its European unit Opel and said the U.S. automaker should not count on governments to shoulder most of the overhaul costs.
The state parent of Chongqing Changan Automobile Co has agreed to take over major auto assets from aircraft maker Aviation Industry Corp of China, heeding Beijing's calls to speed up restructuring in the fragmented auto industry.
General Motors Co said on Monday that it would invest C$90 million ($85.1 million) to expand a joint venture plant in Canada where it builds the Chevrolet Equinox and GMC Terrain crossovers.
German Economy Minister Rainer Bruederle said on Monday that U.S. automaker General Motors had not yet presented a plan for Opel and therefore the question of providing state aid was not being considered.
China's passenger cars sales in October surged 75.8 percent from a year earlier, official data showed, extending the explosive growth in recent months as government incentive policies continued to lure customers.
General Motors Co said on Monday its China vehicle sales in October more than doubled from a year earlier, continuing a string of monthly sales records since the start of the year due to Beijing's stimulus policies.
