General Motors Co. agreed Tuesday to deepen cooperation with its flagship Chinese partner on development of electric vehicle know-how amid pressure from Beijing to hand over proprietary technology. GM would not say how much it’s investing in the venture with Chinese state-owned partner Shanghai Automotive Industrial Corp., and gave few details of the deal. The [...] [...]
General Motors says its first-quarter net income more than tripled on strong car sales in the U.S. and China. The company’s first-quarter net income totaled $3.2 billion, or $1.77 per share, one of its best performances since the SUV boom in the early 2000s. It was GM’s fifth straight quarterly profit since late 2009, the [...] [...]
General Motors says its sales sputtered in September, a sign that Americans are nervous about taking on debt to buy big-ticket items. Sales for the biggest U.S. automaker fell about 6 percent from August but were up 10.5 percent over September of last year. However, it was easy for sales to improve from last September. [...] [...]
General Motors Co. said Thursday it made $1.33 billion in the second quarter, a sign it’s getting healthier as it prepares to sell stock to the public. It was the second straight quarterly profit for the Detroit automaker, which made $865 million in the first quarter, and sets the stage for GM to file paperwork [...] [...]
Governor signs bill that will give dealers the right to reopen franchises or demand them back Gov. Bill Ritter signed a bill into law this week that gives Chrysler and General Motors dealers who were closed during the automakers’ bankruptcies a right of first refusal if the companies reopen an area franchise, or a right [...] [...]
(A.P) – General Motors Corp. new Chevrolet Volt rechargeable electric car is expected to get 230 miles per gallon of gasoline in city driving, more than four times the mileage of the current champion, the Toyota Prius, according to GM executives. The Volt is powered by an electric motor and a battery pack with a [...] [...]
DETROIT (AP) – General Motors Corp. could be majority owned by the federal government and the United Auto Workers under a massive restructuring plan laid out Monday that will cut 21,000 U.S. factory jobs by next year and phase out the storied Pontiac brand.The plan, which includes an offer to swap roughly $27 billion in [...] [...]
DETROIT (AP) – General Motors Corp.’s new chief executive said Tuesday that more of the automaker’s plants could close and bankruptcy is “more probable” as GM works to meet new, tougher requirements for government aid.In his first news conference as CEO, Fritz Henderson said he expects the company would “need to take further measures” beyond [...] [...]
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