December 30, 2009 |
General Motors Co. is offering a $7,000 sales inducement to its dealers for every Saturn and Pontiac vehicle left in inventory as the automaker phases out the two brands. Assuming the cash is passed on to consumers, the move could result in savings for buyers looking to snap up one of the few remaining unsold Pontiacs and Saturns. But the savings might not be as much as one would think. To qualify for the incentive, dealers have to put the vehicles in their rental or service fleet before selling them to consumers.
December 19, 2009 |
General Motors Co.'s plans to save Saab by selling it have failed, and the storied Swedish brand will be the latest to hit the scrap pile. The troubled Detroit automaker said Friday that its last-minute negotiations to sell Saab to a Dutch supercar maker, Spyker Cars, fell through because of due diligence issues that could not be resolved. Those talks followed the collapse of a deal to sell Saab to another maker of high-performance cars, Sweden-based Koenigsegg, late last month.
December 16, 2009 |
Fourteen days after taking the helm as chief executive of General Motors, Edward E. Whitacre Jr. said the giant automaker, which went through a major bankruptcy restructuring this year, plans to repay loans from the U.S. and Canadian governments by the end of June. In one of his first face-to-face meetings with reporters at the company's headquarters in Detroit, Whitacre talked about a variety of topics, including his visit to an auto plant last week in Flint, Mich., shuffling top managers and the company's strategy of improving its vehicles, sales and brand image.
December 4, 2009 |
Three days after the ouster of Chief Executive Fritz Henderson, General Motors Chairman Edward E. Whitacre Jr. announced a deeper management shake-up at the automaker, naming new presidents for the company's North American, European and other international divisions. The moves come as GM attempts an ambitious comeback that began in Bankruptcy Court this spring. The government-owned company has dropped or sought to sell the Pontiac, Saturn, Saab and Hummer brands, closed hundreds of dealerships and laid off thousands of workers.
November 25, 2009 |
General Motors Co.'s plan to sell its Saab unit to a specialty Swedish automaker has collapsed, frustrating another attempt by GM to prune its roster of automotive brands and potentially spelling the end of the Saab brand. Koenigsegg Group said Tuesday that it had canceled the proposed acquisition of Saab because of risks created by delays in completing the deal. GM officials said they were "very disappointed" by Koenigsegg's decision. The Swedish carmaker, which makes so-called supercars that can top 200 miles per hour, had joined with Chinese automaker Beijing Automotive Industry Holding Co. on the deal.
October 28, 2009 |
Luxury automaker Fisker Automotive Inc. of Irvine has agreed to buy a closed General Motors assembly plant in Delaware to produce plug-in hybrid electric cars, the company said. Fisker has signed a letter of intent with Motors Liquidation Co., formerly known as General Motors Corp., to buy the Wilmington, Del., plant for $18 million.