GM IPO moves to reduce U.S. gov't stake

General Motors Co. filed paperwork Wednesday to hold an initial public stock offering, a landmark step toward selling shares to the public again and ending the government's majority ownership of the automaker....More

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Spyker finalises purchase of Saab from GM

STOCKHOLM (AFP) – After months of negotiations and setbacks that left Saab's fate in limbo, Dutch sportscar maker Spyker said Tuesday it had finalised the purchase of the iconic Swedish brand from General Motors.
Spyker's CEO Victor Muller told reporters in Stockholm it was hard to imagine that the process his company, a minnow in the car industry, had started three months ago to acquire Saab was finally over.....More

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GM to add third shift at Ohio plant

General Motors Co. is expected to announce today that it is adding a third shift of production at its Lordstown assembly plant in Ohio to produce the new compact Chevrolet Cruze, according to a source familiar with the plan....More

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GM China sales nearly doubled in January

General Motors Co., which has long looked to China as a growth market, nearly doubled its sales there in January, a record for the month...More

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Shanghai GM Sales Way Up

SHANGHAI, China — General Motors' Shanghai GM Chinese venture reported that its sales more than doubled in January over the same period in 2009, with 90,202 units sold.

GM's flagship venture attributed the robust sales in part to its new generation of mid-to-high-class sedans, the Buick LaCrosse and Regal, which had combined sales of 17,011 units.

The venture also sold about 17,030 Chevrolet Cruze models in January and 20,585 Buick Excelle cars. Shanghai GM launched a new Chevrolet Sail and Buick Excelle XT in January as it aims to boost full-year sales to 850,000 units, General Manager Ding Lei said.....More

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GM, Spyker deal to keep Saab alive

A small Dutch luxury automaker rescued the Saab brand from the automotive scrap heap Tuesday in a last-minute deal that will preserve jobs and dealerships but potentially create a competitor for seller General Motors CoMore

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GM to pay senior aide $1.1M

Wall Street veteran Steve Girsky will be paid $1.1 million for sitting on the General Motors Co. board of directors and being senior adviser to Chairman and CEO Edward Whitacre Jr.---...More

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Ram sends GM back to the Drawing Board

After The 2010 Dodge Ram has won the Motor Trend Truck of The Year, GM goes back to the drawing board.

The new Dodge Ram out performs both GM and Ford Trucks, has better styling and an excellent interior.

Redesigned Chevrolet Silverado and GMC Sierra pickups will feature new exteriors and interiors, as well as better aerodynamics and fuel efficiency. Read more

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GM CEO Whitacre doesn't want job long-term

General Motors Co. Chairman and CEO Ed Whitacre said he does not want to be the CEO long-term and said federal pay restrictions are making the job search difficult.---...More

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GM says it will downsize RenCen workforce

Detroit -- General Motors Co. has trimmed the number of workers it vows to keep at its Renaissance Center headquarters to 2,000 from 2,500---...More

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GM in talks with Dutch, Chinese over Saab

Dutch carmaker Spyker Cars NV emerged as a suitor Sunday to acquire Saab from General Motors Co., which struck a tentative accord with Beijing Automotive Industry Holding for the right to produce versions of the Swedish manufacturer's older models in China, according to people familiar with the talks----...More

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GM moves CFO to new post

Ray Young, whose department has come under intense criticism from the White House, was named vice president of international operations this morning.---...More

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Whitacre shakes up GM brass

Edward Whitacre Jr. seized the reins at General Motors Co. three days into his tenure as CEO and reshuffled the automakers management team, giving more responsibility to younger executives and women and emphasizing accountability as a core GM value.---...More

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GM to make Volt announcement, show off Cruze at L.A. auto show

General Motors Co. will announce a list of initial retail markets for the Chevrolet Volt extended-range electric car at next months Los Angeles International Auto Show.---...More

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GM offered $2.6M tax break to stay at RenCen

The state Tuesday approved additional tax incentives to ensure General Motors Co. keeps its headquarters in Detroit and help several companies create jobs in a state stung by manufacturing cuts.---...More

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GM to put electric Cadillac Converj into production

General Motors Co. will expand its electric vehicle lineup by building the Cadillac Converj, a luxury car some feared would never move beyond the concept stage because of GMs financial troubles.--...More

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GM hourly workers face permanent layoffs

Detroit -- While General Motors Co. does not plan any deep job cuts, the automaker still has too many hourly workers and could permanently eliminate some of the 6,000 to 7,000 workers currently on layoff---...More

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Europe's politics hold up GM's Opel sale

The Germans aren't the only ones hoping to hurdle European Union objections to General Motors Co.'s plans to sell a majority stake in its Adam Opel GmbH unit.

GM is pushing to close "open issues" in a binding deal, perhaps as early as this week, that would convey 55 percent of GM's German automaker to Magna International Inc. of Canada and Sberbank, a Russian financial player with close ties to Vladimir Putin's Kremlin and the automaker GAZ.

GM's board, which vetted proposals for Opel at meetings in late August and September, is not expected to reconsider the transactions unless emerging EU questions force a reappraisal. GM management, I'm told, is using the holdup simultaneously to reassess the logic of its complex Opel deal and to press to get it done, politics or not....More

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GM OKs Hummer deal

General Motors Co. has reached a sales agreement for its Hummer brand with a Chinese company that plans to keep the rugged auto company's headquarters in the Detroit area.--...More

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GM, dealers begin the end to Saturn

A day after a Saturn deal with Roger Penske fell through, General Motors Co. proceeded with plans to shutter 350 dealerships and there was little indication a deal could be salvaged or another suitor found.--...More

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