According to General Motors, the introduction of the small car will boost the company's percentage of U.S.-built cars and trucks sold in the States from about 67 percent today, to beyond 70 percent by 2013.
"Small cars represent one of the fastest growing segments in both the U.S. and around the world," said Fritz Henderson, General Motors President and CEO. "We believe this car will be a winner with our current and future customers in the U.S."
"I would like to personally thank the UAW for agreeing to work with us to ensure our overall manufacturing competitiveness in the United States. It takes a special effort by everyone to bring a domestically produced small car to market in a cost-competitive and profitable way - but that is what we are going to do together," Henderson added.
General Motors is planning to spend $5 billion over the next several years to develop a new range of small cars based on a common architecture. The technology-rich vehicles will be built and sold as Chevrolets in China, Brazil, India, Mexico and other...
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...
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...
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Just hours after filing for bankruptcy Monday morning, General Motors announced that it will close or idle 14 plants and three Service and Parts Operations in the United States. Michigan is hit the hardest as it will see five plants being closed while...