President Barack Obama, on Monday said the healthcare system is “a ticking bomb” which could send the U.S. government down the same road as that of General Motors and go broke if the healthcare system is not reformed.
Ford Motor Co has found advantages in going without the federal emergency aid that supports its domestic rivals, although the long-term implications of the government intervention are unclear, Ford Chairman Bill Ford said on Monday.
Sichuan Tengzhong Heavy Industrial Machinery, the surprise bidder for General Motors Corp's Hummer brand, said on Sunday the deal should be concluded in the coming quarter.
Activist investor Carl Icahn is considering making another attempt to take over bankrupt auto parts supplier Delphi Corp, the New York Post reported on Saturday.
(Corrects paragraph 2 to make clear the judge did not block sale to Platinum Equity, and paragraph 6 to show that General Motors is providing funding to Delphi, not the U.S. Treasury)
Virtually all dealers asked to do business with the new General Motors Corp after bankruptcy have agreed to do so, while the automaker will work through the weekend to weigh appeals from those that are being cut loose, the company's chief executive said on Friday.
South Africa's National Union of Metal Workers (NUMSA) is taking the local arm of General Motors (GMSA) to court over job losses it says are linked to the parent company's financial woes, the union said on Thursday.
More than 95 percent of eligible dealers at bankrupt General Motors Corp have signed on or verbally agreed to participate in the new company, Chief Executive Fritz Henderson said on Friday.
The U.S. government spent $287 million to purchase a total 17,205 fuel efficient vehicles from Ford, Chrysler and General Motors as of June 1 and aims to order $15 million more worth of advanced technology buses and electric vehicles, the General Services Administration said this week.
Swedish luxury carmaker Koenigsegg and Norwegian investors have signed a preliminary deal to buy General Motors' unit Saab, a source familiar with the matter said on Thursday.
Swedish luxury carmaker Koenigsegg and Norwegian investors have signed a letter of intent with General Motors' Swedish unit Saab to take over the loss-making brand, Swedish television reported on Thursday, citing unnamed sources.
Beijing Automotive Industry Holding Corp is interested in buying Ford Motor Co's Volvo car unit, the Wall Street Journal reported, adding a new name to a list of potential Chinese bidders for the Swedish luxury car brand.
Fiat SpA closed its acquisition of Chrysler's strongest assets on Wednesday, a key step in the Italian carmaker's ambitious plan to create a global player to ride out the worldwide auto sales downturn.
Shares of U.S. auto suppliers rose sharply on Wednesday as news that Italian automaker Fiat SpA had completed the purchase of Chrysler LLC's strongest assets erased fears that the U.S. car maker could face liquidation if the deal did not go through.
The U.S. Supreme Court on Tuesday cleared the way for the sale of Chrysler LLC to Italy's Fiat, while General Motors began to revamp its widely criticized board by naming former AT&T Inc chief executive Ed Whitacre as chairman.
General Motors Corp on Tuesday took a step toward restructuring its widely criticized board by naming former AT&T Inc CEO Ed Whitacre to become chairman of the reorganized automaker when it emerges from bankruptcy under U.S. government oversight.
General Motors Corp said on Tuesday that former chairman and chief executive of AT&T Inc Edward Whitacre will become chairman of the restructured automaker later this summer.
General Motor's Vice Chairman Bob Lutz says conventional cars are still what most people in the U.S. want while also criticizing the mainstream media for portraying demand for hybrid vehicles as being higher than the reality.
General Motors officially opened an advanced battery laboratory in Michigan on Monday to speed up the development of cleaner and more energy efficient vehicles, the company said.
General Motors Corp , which filed for bankruptcy protection a week ago, said on Monday that it would cease production of medium-duty trucks by July 31 after attempts to sell the operation failed.
The U.S. automobile industry had quite a party during the recent credit-infused economic boom, but the hangover could last for years to come.
Penske Automotive Group, Inc – a U.S. auto retailer and franchiser - has reached a preliminary agreement to obtain the Saturn auto brand from bankrupt automaker General Motors Corp, the companies said Friday. Financial details were not disclosed.