President Barack Obama has delayed in
selecting a "car czar" to oversee the restructuring of bailed out automakers General Motors Corp. and Chrysler LLC. And now five U.S. Senate Democrats are asking Obama to appoint a group of advisers instead of a single person to
oversee the restructuring. Of course, Obama may have to select bankruptcy advisers if GM and Chrysler can't turn things around outside of the Chapter 11 process, which
seems likely to industry observers.
Amidst all this, GM is working on some deals. Right now, it's in talks with China FAW Group Corp. to set up a light commercial vehicle
joint venture.
China is a bright spot for GM. A commercial vehicle JV GM has there reported sales were up almost
20% in January compared to the previous year's period.
Elsewhere, GM has reportedly
stepped up talks to finally sell its medium-duty truck business to Isuzu Motors Ltd. As for its restructuring plans, GM surprised car enthusiasts by unveiling three
energy efficient vehicles at the Detroit Auto Show. -
Baz Hiralal
Join Corporate Dealmaker's LinkedIn forum
Juergen Lasowski
And the winners are...
