Cars
Last September, during the Frankfurt Motor Show, General Motors executives were confident that their European operations were following the company’s restructuring plan to the letter and would break even.
- Ford's European Restructuring Plan Leads To The Closure Of Two Uk Facilities, Mondeo Delayed
After announcing plans to shut down its Genk factory in Belgium at the end of 2014, Ford came out today with new details about its European restructuring efforts that include the closure of two more plants, the allocation of production, the loss of up...
- Gm To Shut Down Antwerp Plant In Belgium, Announces More Cuts For Opel / Vauxhall
General Motors has turned its focus on its European division as a little after the announcement on its decision to wind down its Saab unit, the U.S. carmaker revealed that it intends to close Opel's manufacturing plant in Antwerp, Belgium, which...
- Gm Decides To Keep Opel After All, Cancels Sale With Magna
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- Gm Records $6 Billion Net Loss In First Quarter, Burns $10.2 Billion In Cash
The first quarter numbers are in for General Motors and things aren't looking bright for the largest U.S. automaker as the Obama administration's June 1st bankruptcy deadline nears its end. General Motors recorded a net loss of $6.0 billion in...
- Gm Posts $15.5 Billion Loss In Q2 2008
General Motors today announced its financial results for the second quarter of 2008, which saw the largest U.S. automaker report a loss of $15.5 billion mainly due to plunging sales in its core North American market and the dramatic shift in consumer...
Cars
GM wants to Make Opel Profitable Despite European Crisis and Sales Drop
Last September, during the Frankfurt Motor Show, General Motors executives were confident that their European operations were following the company’s restructuring plan to the letter and would break even.
Less than two months later, real-world results proved them wrong. In the first nine months of 2011, GM's European operations lost US$580 million before interest and taxes. Breaking even went down the drain.
In addition, restructuring, closing the Antwerp plant and cutting 5,800 jobs through September 2011, cost the company US$900 million. And that’s not all: its European division has cost GM more than US$2.34 billion since 2009, when it called off its plans for selling the company, and a staggering US$13 billion since 1999.
Read more »- Ford's European Restructuring Plan Leads To The Closure Of Two Uk Facilities, Mondeo Delayed
After announcing plans to shut down its Genk factory in Belgium at the end of 2014, Ford came out today with new details about its European restructuring efforts that include the closure of two more plants, the allocation of production, the loss of up...
- Gm To Shut Down Antwerp Plant In Belgium, Announces More Cuts For Opel / Vauxhall
General Motors has turned its focus on its European division as a little after the announcement on its decision to wind down its Saab unit, the U.S. carmaker revealed that it intends to close Opel's manufacturing plant in Antwerp, Belgium, which...
- Gm Decides To Keep Opel After All, Cancels Sale With Magna
...
- Gm Records $6 Billion Net Loss In First Quarter, Burns $10.2 Billion In Cash
The first quarter numbers are in for General Motors and things aren't looking bright for the largest U.S. automaker as the Obama administration's June 1st bankruptcy deadline nears its end. General Motors recorded a net loss of $6.0 billion in...
- Gm Posts $15.5 Billion Loss In Q2 2008
General Motors today announced its financial results for the second quarter of 2008, which saw the largest U.S. automaker report a loss of $15.5 billion mainly due to plunging sales in its core North American market and the dramatic shift in consumer...