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General Motors

"What's good for the country is good for General Motors, and vice versa." -Oscar Wilde

Super-size Hummers, classic Cadillacs and environmentally-friendly Saturns have helped GM hold rank as the world's largest auto company in sales volume for 76 consecutive years. But with Toyota's 2007 sales hitting the 9.36 million vehicle mark, GM's estimated 9.26 million units may signal the end of its multi-decade reign.

Stories

Stories 41 - 60 of 108

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October 2008
- Bankruptcy Looms if GM, Chrysler Don't Get Cash
  
  Wall Street Journal | Oct 27, 08 8:12 AM CDT
  
  (Newser) - GM and Chrysler are both on track to run out of cash before the end of 2009 if a merger or major government intervention doesn’t occur, analysts tell the Wall Street Journal . With credit markets choked and rapidly diminishing reserves, experts say bankruptcy, which would carry massive consequences for the industry and economy as a whole, could be unavoidable. More »
- Congress' Big Auto Bailout Mired in Red Tape
  
  Washington Post | Oct 22, 08 9:59 AM CDT
  
  (Newser) - Detroit's $25 billion loan is sitting in Washington, the Washington Post reports, and may take more than a year to distribute, despite the auto industry's increasing desperation for the cash. The Energy Department, which was tasked with doling out the money, says various legal and administrative requirements will drag the process out 6-18 months. “Congress had the opportunity to waive these requirements,” said a department spokeswoman, but “has chosen not to.” More »
- Chrysler Flirts With Nissan- Renault as GM Seeks Credit
  
  Wall Street Journal | Oct 21, 08 10:21 AM CDT
  
  (Newser) - Chrysler is considering joining Nissan-Renault, adding a North American arm to the Japanese-French auto alliance that could rescue Chrysler’s operations, the Wall Street Journal reports. Cerberus, Chrysler’s majority owner, prefers a merger with General Motors, but overlap with a Detroit competitor would likely eliminate half of Chrysler’s 66,000 jobs. A deal with Nissan-Renault would leave Chrysler largely intact. More »
- Credit Woes Stall GM's Effort to Buy Chrysler
  
  Wall Street Journal | Oct 20, 08 6:59 AM CDT
  
  (Newser) - A tight credit market and wary investors are slowing GM’s attempts to buy rival Chrysler, and experts say the companies may turn to the US government, arguing that a deal between the two is needed to save the US auto industry, reports the Wall Street Journal. But sources told the Journal a deal between the automakers remains far from done and called talks “tenuous.” More »
- GM-Chrysler Talks Pick Up Speed as Auto Sales Stall
  
  Wall Street Journal | Oct 17, 08 8:58 AM CDT
  
  (Newser) - Talks of a General Motors-Chrysler merger are on the fast-track, the Wall Street Journal reports, with lenders pushing for a deal to be completed as soon as the end of the month. Amid a historically dismal month for US auto sales, GM is scrambling to shore up a bleeding balance sheet while banks see an opportunity to reduce exposure in the auto industry. More »
- Toyota Offers Interest-Free Car Loans
  
  Wall Street Journal | Oct 17, 08 4:01 AM CDT
  
  (Newser) - Toyota is moving aggressively to fight slowing sales with a $250-million advertising campaign that offers zero-percent financing on 11 vehicles. The Japanese auto giant is flush with billions of dollars in cash and plans to use it to boost its market share, just as Ford, GM and Chrysler are at their weakest, reports the Wall Street Journal. More »
- GM Calls for Help
  
  Reuters | Oct 14, 08 12:07 PM CDT
  
  (Newser) - General Motors is not thinking of filing for bankruptcy, Reuters reports. Instead, an exec said, "There is a strong need for coordinated federal action" to weather the economic crisis as US auto sales slide. Filing for bankruptcy "would not benefit our customers, our dealers, or our employees," she noted. More »
- Ford Put Brakes on GM Merger Talks
  
  Wall Street Journal | Oct 11, 08 5:34 PM CDT
  
  (Newser) - Ford rejected merger overtures from GM earlier this year and decided to ride out its financial issues alone, the Wall Street Journal reports. The GM-Ford talks were “very loose and preliminary, more exploratory in nature than anything else,” a source said. Both companies have denied bankruptcy rumors, but credit rating agencies and analysts have raised concerns about their high rate of spending. More »
- GM/Chrysler Merger 'Too Horrible to Contemplate'
  
  Detroit Free Press | Oct 11, 08 1:31 PM CDT
  
  (Newser) - GM and Chrysler are indeed seriously discussing a merger, sources tell Tom Walsh of the Detroit Free Press , which just proves “how desperately some people want to exit the automobile business.” Both companies are already too big—put them together and they’d be “way, way, way” too big, leading to a mass of layoffs and plant closings “too horrible to contemplate.” More »
- GM, Chrysler Deep Into Merger Talks
  
  New York Times | Oct 10, 08 9:55 PM CDT
  
  (Newser) - GM and Chrysler are quietly seeking a merger deal that would create the world's largest car maker and reshape the auto industry. Talks between GM and Cerebrus Capital Management, which owns Chrysler, have a 50% chance of succeeding, sources tell the New York Times . Other sources say the deal has stalled, but both sides are hungry to merge and would act quickly if markets stabilize, the Wall Street Journal reports. More »
- GM May Sell Detroit Home Base
  
  Detroit News | Oct 7, 08 4:46 PM CDT
  
  (Newser) - General Motors will ask to borrow $500 million from pension funds for Detroit city employees to refinance its headquarters, the Renaissance Center, the News reports. The firm will make a pitch to the police and fire retirement system Thursday; GM will consider selling the landmark and leasing office space inside if it can’t get the funds. No matter what, GM said, it will not leave Detroit. More »
September 2008
- Bush OKs $25B for Car Giants
  
  Wall Street Journal | Sep 30, 08 7:26 PM CDT
  
  (Newser) - President Bush today approved the $25 billion in low-interest loans aimed at helping US automakers in their transition to building more fuel-efficient vehicles, the Wall Street Journal reports. The industry long pushed for the package, estimating the total cost of the makeover at $100 billion. It’s now up the Energy Department to set eligibility guidelines, with lawmakers hoping funds can be available by mid-2009. More »
- House OKs $25B Detroit Rescue
  
  Detroit Free Press | Sep 25, 08 3:29 AM CDT
  
  (Newser) - The House has approved a $25 billion lifeline to Detroit's battered auto industry, the Detroit Free Press reports. The package of low-interest loans to help automakers switch to manufacturing more fuel-efficient vehicles is expected to be approved by the Senate today and signed by the president soon after. Michigan lawmakers cheered the news, saying it would save thousands of jobs. More »
- Auto Giants Press Congress for $25B Loan
  
  Detroit Free Press | Sep 18, 08 9:43 AM CDT
  
  (Newser) - The CEOs of US auto giants seem to have convinced some in Congress they, too, need billions in federal loans, the Detroit Free Press reports, though it’s uncertain if they’ll get the $25 billion they’re asking for. High oil and commodity prices and tightened credit threaten jobs in an already ailing industry, the heads of General Motors, Ford, and Chrysler told lawmakers yesterday. More »
- Volt's Looks Kill Some GM Buzz
  
  CNNMoney | Sep 16, 08 1:58 PM CDT
  
  (Newser) - GM offered its first official look today at the plug-in Chevrolet Volt, CNNMoney reports, the electric car slated to go on sale in 2010. Its tame appearance drew the ire of gearheads hoping it would look more like the futuristic concept version. "A lot of people are saying they're very disappointed and 'take me off the [waiting] list,' " said one blogger. More »
- GM Rolls Out Volt Tomorrow; Hopes for Game-Changer
  
  Wall Street Journal | Sep 15, 08 11:20 AM CDT