Two months ago President Obama stood with other Group of 20 nations' leaders in London and pledged not to introduce protectionist measures in the global economic crisis.
U.S. auto sales fell nearly 34 percent in May from a year earlier, but aggressive discounting helped steady results for the battered industry, according to monthly results released on Tuesday.
General Motors Corp said on Tuesday it reached a tentative deal to sell its Hummer brand to a privately held Chinese company, part of an effort to drop four unprofitable vehicle lines and leave bankruptcy as a leaner company.
U.S. auto sales fell nearly 34 percent in May from a year earlier, but aggressive discounting helped steady results for the battered industry, according to monthly results released on Tuesday.
General Motors filed the largest bankruptcy of any industrial company in US history this Monday, and alongside it, unveiled plans to close more dealerships, factories, and support services across the nation.
Ford Motor Co said on Tuesday that U.S. sales fell 24.2 percent in May for all of its brands as the only U.S. automaker not in bankruptcy reported its strongest domestic sales month since July 2008.
The U.S. Senate could vote as early as Tuesday on a proposal to spur auto sales by underwriting some of the cost to consumers of buying fuel-efficient cars.
A Chinese industrial machinery company has reached a preliminary agreement with General Motors Corp. to buy the American car maker’s Hummer automobile brand, according to reports.
General Motors Corp on Tuesday reported U.S. sales for May.
A late month surge in sales from Chrysler dealerships that are losing their franchises as part of the automaker's bankruptcy may have driven U.S. auto sales in May to levels above those seen in recent months.
General Motors Corp said it reached a tentative deal to sell its Hummer brand, part of an effort to drop four unprofitable vehicle lines and leave bankruptcy as a leaner company.
General Motors Corp said it reached a tentative deal to sell its Hummer brand, part of an effort to drop four unprofitable vehicle lines and leave bankruptcy as a leaner company.
General Motors Corp expects to have a 'very healthy' cash balance when it emerges from bankruptcy court protection in the next 60 to 90 days as a leaner company, its chief financial officer said on Tuesday.
General Motors Corp said it had reached a preliminary deal to sell its Hummer brand, part of its effort to shed half of its eight U.S. lines and leave bankruptcy court protection as a leaner company.
General Motors Corp is about to open the door on the biggest garage sale in U.S. industrial history.
General Motors Corp is about to open the door on the biggest garage sale in U.S. industrial history.
General Motors Corp said Tuesday it has found a buyer for its off-road brand Hummer just a day after it filed for bankruptcy protection as it seeks to quickly exit the court supervised process and emerge with less debt and only its strongest brands, Chevy, Cadillac, GMC and Buick.
At 8:15 a.m. ET on Monday, a General Motors executive gave hourly workers at its assembly plant here the news they feared most: the plant would close by October, robbing most of them of their jobs.
General Motors Corp filed for bankruptcy on Monday as the Obama administration took the first steps to try to revive a failed icon of American industry by extending unprecedented federal funding and oversight.
General Motors said on Tuesday that it had entered into a memorandum of understanding to sell its Hummer brand, but didn't name the buyer or say how much money it would get for the all-SUV line.
General Motors said on Tuesday that it had entered into a memorandum of understanding to sell its Hummer brand, but didn't name the buyer or say how much money it would get for the all-SUV line.
General Motors and Citigroup were kicked out of the closely watched Dow Jones industrial average on Monday, marking a historic fall from grace for two once venerable American corporations.
