News Tag: GM
March 3, 2010
Ford Motor company overtook its rivals last month by announcing sales surged 43% - outperforming its major rival, General Motors (GM).
It also accelerated past Toyota, which has been suffering amid major recalls. Toyota has now recalled over 8 million cars over concerns about accelerator pedals and brake systems.
Ford said US sales rose 43% to 142,285 vehicles, while GM sold 141,951 ...
Ford monthly sales soar 43%
by Kay Murchie
November 5, 2009
The announcement that US car giant General Motors (GM) abandoned plans to sell a majority stake in its European car business Opel, including its UK brand Vauxhall, has led to a protest by thousands of the 25,000 workers at Opel's four factories.
In March, GM announced plans to offload Vauxhall and sister company, Germany-based Opel, and finally agreed to ...
Thousands of Opel workers in protest after GM u-turn
by Kay Murchie
November 4, 2009
US car giant General Motors (GM) has abandoned plans to sell a majority stake in its European car business Opel, including its UK brand Vauxhall.
GM had agreed to sell Opel and Vauxhall to Magna, a Canadian car parts supplier, to raise funds after facing collapse earlier this year.
The shock decision comes after talks were at the advanced ...
General Motors abandons advanced talks to sell Opel
by Kay Murchie
September 2, 2009
The US Government’s Car Allowance Rebate System (CARS), branded the “cash for clunkers” scheme has boosted car sales with Ford reporting a 17% rise in sales in August compared with July.
General Motors (GM) said sales had soared by 30% from July this year but did report a 20% drop in year-on-year sales.
Overall, total industry sales rose ...
Popular US Cash for Clunkers scheme comes to an end
by Kay Murchie
August 4, 2009
It seems that the US Government's Car Allowance Rebate System (CARS), branded the "cash for clunkers" scheme is proving successful after July has been the best month for sales in almost a year.
While both Chrysler and General Motors (GM) posted a fall in sales, Ford reported that sales were up 2.3% from a year ago.
Chrysler reported a fall in sales of ...
US vehicle sales improve in July
by Kay Murchie
June 1, 2009
US car giant General Motors (GM) has today declared itself bankrupt, symbolising the largest collapse of an industrial company in US history.
The move, which has the support of the US Government, was widely expected in the wake of plummeting car sales.
According to the Obama Administration, the US Government will take a 60% stake in the car maker, but according to ...
General Motors files for bankruptcy protection
by Kay Murchie
May 31, 2009
Many reports over the weekend have speculated that General Motors (GM) is expected to file for Chapter 11 bankruptcy tomorrow.
The century-old car maker, which was once the biggest company in the world, reaches its deadline tomorrow of restructuring the business in order to achieve a multi-billion dollar loan from the Government to avoid bankruptcy protection.
So far, the company ...
General Motors expected to file for Chapter 11
by Kay Murchie
May 28, 2009
It emerged earlier today that Vauxhall’s UK plants were at risk of closure after struggling US car maker General Motors (GM) moved to sell off its European arm, which includes Vauxhall and Germany’s Opel.
However, Business Secretary, Lord Peter Mandelson, has told Sky News that “there is no danger of Vauxhall's UK plants closing”. However, Lord Mandelson did warn that some ...
Vauxhall’s UK plans won’t close says Mandelson
by Kay Murchie
May 15, 2009
In an attempt to slash costs and fight off bankruptcy, struggling US carmaker General Motors (GM) has announced plans to close 1,100 of its dealerships.
It is also severing ties with another 470 Saturn, Hummer and Saab dealers, according to the BBC.
The news comes just 24 hours after fellow US carmaker, Chrysler, announced it would close 789 US dealerships as part ...
GM to close more than 1,000 dealerships
by Kay Murchie
May 3, 2009
The global economic downturn has resulted in a slump in demand for big-ticket items, such as cars and this is still the case for US carmakers after Chrysler reported a 48% decline in April sales compared with April 2008.
Sales at Ford were down nearly 32% while General Motors (GM) sales were down 34%.
The latter, along with Chrysler, have been instructed by ...
US car sales plummet in April
by Kay Murchie
April 27, 2009
Struggling US carmaker General Motors (GM) has announced further job cuts to its workforce with 21,000 US jobs to be axed.
GM, which is the world’s largest carmaker, has a deadline of 1 June to restructure the business in order to achieve a multi-billion dollar loan from the Government to avoid bankruptcy protection.
So far, GM has received $15.4 billion in ...
GM embark on further brutal job cuts
by Kay Murchie
April 8, 2009
According to a report in the Daily Mail, the world’s largest carmaker General Motors (GM) is preparing for bankruptcy.
While the company is hoping to win concessions from its creditors, the threat of going bust puts 5,000 jobs at risk at Vauxhall in Ellesmere Port, Cheshire and Luton as well as 60,000 supply jobs.
GM wants its creditors to ...
UK jobs under threat as GM prepares for bankruptcy
by Kay Murchie
March 31, 2009
After continued fear of the threat of the global economic downturn spreading to Asia, as well as the car industry across the world, has pushed oil prices below $50.
Energy analysts have not found a reason to suggest that oil prices will rebound like they did at the end of last month, from $40 per barrel to above $50.
At ...
Oil prices have fallen amid fears of car industry
by Peter Charalambous
March 30, 2009
Rick Wagoner, chief executive of US beleaguered car giant, General Motors (GM), has been ordered to resign by US President Barack Obama.
56-year-old Wagoner has been at the helm of GM for eight years but has been with the company since leaving Harvard University with an MBA more than 30 years ago. He received the order in return for ...
Obama calls for GM chief to step down
by Kay Murchie
