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The purchase of Hummer by Sichuan Tengzhong Heavy Industrial Machinery Co. Ltd. may turn out to be OK with Chinese regulators. And then on the other hand, it may not.That's our take on a Wednesday Reuters story with the optimistic headline "Chinese agencies back Tengzhong-Hummer deal."As you'll recall, General Motors...
Posted on July 15, 2009 9:56 AM
With General Motors Co. having emerged from bankruptcy with a much lower cost structure -- and in a mere 40 days -- vice chairman Bob Lutz is feeling his oats. Check out what he told Public Radio's "The Takeaway" Monday morning about industry overcapacity and how it affects GM and...
Posted on July 13, 2009 4:48 PM
What's going on behind the scenes in the auction of General Motors Co.'s Adam Opel GmbH we can only guess. But it's probably safe to say that the sellers are both busy and encouraged. Because what's going on in public is that the potential buyers are speaking up about their...
Posted on July 13, 2009 9:30 AM
Government assistance has helped first Chrysler Group LLC and soon General Motors Corp. through quick-rinse bankruptcies. But these companies that have received so much aid from the White House now face a threat from another branch of government, with legislation working its way through Congress that would force the automakers...
Posted on July 9, 2009 1:27 PM
The deadline is July 10. The Feds won't fund bankrupt General Motors Corp. past then, we learned Wednesday, so unless the court approves a 363 sale and the creation of the new GM by, let's see, a week from Friday, we're looking at liquidation. This and much more about what...
Posted on July 2, 2009 10:43 AM
General Motors Corp.'s decision to drop out of a California joint venture has created a difficult decision for partner Toyota Motor Corp.Bankrupt GM said Monday that its 50% stake in the New United Motor Manufacturing Inc., or Nummi, facility in Freemont would not be part of the revitalized company that...
Posted on June 30, 2009 5:04 PM
The U.S. auto industry might be suffering, but at least the initial quality of what they are building is improving. So says J.D. Power and Associates, which as part of its 2009 Initial Quality Study says that new vehicles sold by Chrysler Group LLC, Ford Motor Co. (NYSE:F) and General...
Posted on June 22, 2009 2:27 PM
The battle for Adam Opel GmbH might not be over yet.General Motors Corp., despite striking a tentative deal to sell a majority stake in Opel to Magna International Inc. (NYSE:MGA) last month, continues to hold discussions with rival suitor Ripplewood Holdings LLC, according to a report on the London Times'...
Posted on June 19, 2009 5:00 PM
Will the much-lamented insular culture at General Motors Corp. finally change? Possibly, says Marina Whitman, a professor the University of Michigan's Ross School of Business and a former chief economist at GM. Here's her reasoning, from a Q&A posted by the school:Even the much-maligned Roger Smith did a number of...
Posted on June 18, 2009 1:37 PM
Russian automaker GAZ continued its makeover on Monday, announcing it has retained former General Motors Corp. executive Bo Andersson as a consultant with an eye toward eventually becoming chairman of the company's board.The announcement clears up any confusion caused by Andersson's surprise resignation from GM on Friday. And it also...
Posted on June 15, 2009 4:25 PM
The Obama administration says it has intervened in the auto sector only out of dire necessity, and looks forward to a businesslike restructuring and getting out as soon as possible. But as the bankruptcies and bailouts of Chrysler LLC and General Motors Corp. move along, we are reminded daily of...
Posted on June 10, 2009 1:05 PM
It will be some time before conclusions can be drawn as to the success of the restructuring of General Motors Corp. But a war of words between the political parties over how we got to where we are is already well underway. And while not directly related, the Supreme Court's...
Posted on June 9, 2009 10:21 AM
Ford Motor Co. (NYSE:F), the nation's last major auto company operating outside of bankruptcy, showed continuing signs of momentum in May while newly insolvent General Motors Corp. provided at least a glimmer of hope.Ford U.S. sales for the month, though down 24% compared to May 2008, were the highest...
Posted on June 2, 2009 3:04 PM
One of the big problems that has hobbled General Motors Corp. in recent decades has been a shortage of executive talent. As its fortunes waned and glamor and growth receded across the whole U.S. auto industry, ambitious young business people headed for Silicon Valley and Wall Street instead of GM...
Posted on June 1, 2009 10:54 AM
With General Motors Corp. having joined Chrysler LLC in government-orchestrated and -financed bankruptcy, one question stands out: Can the restructurings proceed without major political meddling in what ought to be business decisions?Even the optimists have to be worried on this front. Meanwhile, the answer to a related question -- whether...
Posted on June 1, 2009 9:47 AM
With billions of dollars and thousands of jobs at stake, it's no surprise that the restructuring of Chrysler LLC has turned into a heated affair. Even so, the rhetoric on both sides has gotten a little wild. How wild? Try a full-throated invocation of 9/11 on cable news and a...
Posted on May 29, 2009 8:45 AM
Canadian auto parts giant Magna International Inc. (NYSE:MGA) is reportedly considering throwing its hat into the auction to buy the Saturn brand of General Motors Corp. (NYSE:GM).Aurora, Ontario-based Magna, which is one of two finalists along with Fiat SpA to acquire a majority stake in GM's Opel operation in Europe,...
Posted on May 19, 2009 4:00 PM
The White House is expected on Tuesday to announce new emissions standards that would cut greenhouse gas emissions from new cars and trucks by 30% by 2016. That's bad news and good news for domestic automakers already scrambling to restructure their operations and restore profitability. Automakers have long fought tougher...
Posted on May 18, 2009 3:50 PM
A dustup now underway in Britain could be the shape of things to come in the rapidly reconfiguring and economically challenged global auto industry.As Dealscape notes, India's Tata Group Ltd. is seeking about £500 million ($754 million) of U.K. state assistance for carmaker Jaguar Land Rover. But talks have broken...
Posted on May 7, 2009 9:51 AM
Automakers reported another dismal month of sales in April, though the U.S. companies all reported reason for hope that the worst might be behind them.Chrysler LLC, which filed for Chapter 11 protection on Thursday, saw sales fall 48% from April 2008, with crosstown rivals General Motors Corp. (NYSE:GM) and Ford...
Posted on May 1, 2009 3:51 PM
What do you do when you lose the Vibe?That's the question facing New United Motor Manufacturing Inc., the 50-50 joint venture between Toyota Motor Corp. and General Motors Corp. (NYSE:GM). The two companies started manufacturing vehicles together at the former GM plant in Fremont, Calif., in 1984. GM has been...
Posted on April 28, 2009 10:53 AM
In the lead article in Thursday's New York Times, Keith Bradsher describes China's top-down push for its young car industry to take the global lead in hybrid and all-electric cars. He's pretty impressed with their prospects.Writing for The Business Insider Green Sheet, Jay Yarow responds with "Why China won't clobber...
Posted on April 2, 2009 1:24 PM
At the G20 summit in London Wednesday, German Chancellor Angela Merkel will disagree with President Obama on the need for more European fiscal stimulus. But she may want to thank him for giving General Motors Corp. (NYSE:GM) 60 days to come up with a new viability plan Monday.Tuesday Merkel spoke...
Posted on March 31, 2009 12:03 PM
Steven Rattner, leader of President Obama's auto industry task force, does not sound like a man about to push his charges into bankruptcy.On Tuesday he said bankruptcy is not a "desirable outcome."Friday, in an interview with Bloomberg TV (written up here), Rattner acknowledged that the automakers could need considerably more...
Posted on March 20, 2009 1:05 PM
When the U.S. Treasury announced financial aid for auto suppliers Thursday morning, it noted that General Motors Corp. (NYSE:GM) and Chrysler LLC had agreed to participate. Suppliers that ship to those companies will thus be guaranteed payment, regardless of what happens to the companies.But why isn't Ford Motor Co. (NYSE:F) ...
Posted on March 19, 2009 3:37 PM
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