Cars
Following last Friday's announcement on the closure of 1,100 dealerships across the U.S. by fall 2010, General Motors is now telling approximately 42 percent of its Canadian dealers that they will lose their franchises next year. The U.S. automaker said that it has already started to notify some dealers sales and service agreements would not be renewed following expiry in October 2010. GM claimed in a prepared statement that the company's goal is to "accomplish this reduction in an orderly, cost-effective and customer-friendly way."
- New Gm Officially Exits From Bankruptcy Protection
On Thursday General Motors cleared the final hurdle for selling most of its assets to create the New GM which is primarily owned by the governments of the United States (60.8 percent), Canada and Ontario (11.7 percent), and by a trust fund providing medical...
- Gm Receives Approval To Sell Assets To U.s Department Of The Treasury
A New York judge approved the sale of most of General Motors Corporation's assets to NGMCO, Inc., an entity funded by the U.S. Department of the Treasury, on late Sunday, thus opening the way for a quick exit from Chapter 11 in less than 40 days after...
- Chrysler Llc Shutting Down 789 Dealerships Across The U.s. By June 9
The latest development in Chrysler's ongoing saga is the elimination of approximately a quarter of its 3,181 U.S. dealerships by early next month. In a motion filed with the U.S. bankruptcy court, the American automaker said that it would shut down...
- Ford, Gm And Chrysler Seek $6.8 Billion Government Loan From Canada
Having already appealed to the U.S. Congress for an emergency bailout, Detroit's Big Three are now stretching their hands across the border to Canada seeking billions of dollars in loans and credit lines. Ford Motor Company delivered its plan to the...
- Penske Not Buying Saturn, General Motors Kills Saturn
General Motors is killing off the Saturn brand. Prospective buyer Penske had all but acquired the relatively young brand but has backed out because of an "inability to source new products beyond what it had asked GM to build on contract". GM...
Cars
General Motors to Close Roughly Half of its Canadian Dealerships
Following last Friday's announcement on the closure of 1,100 dealerships across the U.S. by fall 2010, General Motors is now telling approximately 42 percent of its Canadian dealers that they will lose their franchises next year. The U.S. automaker said that it has already started to notify some dealers sales and service agreements would not be renewed following expiry in October 2010. GM claimed in a prepared statement that the company's goal is to "accomplish this reduction in an orderly, cost-effective and customer-friendly way.""Due to the unique aspects of our Canadian dealer network, we have focused our network rationalization efforts on key urban markets in an effort to achieve a viable network configuration all across Canada," GM said.
- New Gm Officially Exits From Bankruptcy Protection
On Thursday General Motors cleared the final hurdle for selling most of its assets to create the New GM which is primarily owned by the governments of the United States (60.8 percent), Canada and Ontario (11.7 percent), and by a trust fund providing medical...
- Gm Receives Approval To Sell Assets To U.s Department Of The Treasury
A New York judge approved the sale of most of General Motors Corporation's assets to NGMCO, Inc., an entity funded by the U.S. Department of the Treasury, on late Sunday, thus opening the way for a quick exit from Chapter 11 in less than 40 days after...
- Chrysler Llc Shutting Down 789 Dealerships Across The U.s. By June 9
The latest development in Chrysler's ongoing saga is the elimination of approximately a quarter of its 3,181 U.S. dealerships by early next month. In a motion filed with the U.S. bankruptcy court, the American automaker said that it would shut down...
- Ford, Gm And Chrysler Seek $6.8 Billion Government Loan From Canada
Having already appealed to the U.S. Congress for an emergency bailout, Detroit's Big Three are now stretching their hands across the border to Canada seeking billions of dollars in loans and credit lines. Ford Motor Company delivered its plan to the...
- Penske Not Buying Saturn, General Motors Kills Saturn
General Motors is killing off the Saturn brand. Prospective buyer Penske had all but acquired the relatively young brand but has backed out because of an "inability to source new products beyond what it had asked GM to build on contract". GM...