Wednesday, March 18th, 2009
Auto workers for the remaining 3 American car makers will soon be paid about the same as Toyota workers in the United States do. The wage parity is a result of the re-negotiated UAW contracts that were required as part of the government bailout of the domestic auto industry. ...
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Saturday, March 14th, 2009
General Motors recently announced a recall on 276,729 new cars and light trucks. The company says that a glitch in the transmission could enable the vehicle to roll away when placed in park.
GM said that the shift lever and transmission gear's position may not match up, causing the vehicle ...
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Wednesday, March 11th, 2009
The UAW has agreed to concessions demanded by General Motors. The deal was similar in some ways to a recent agreement with Ford Motor Company.
Terms of GM's $13.4-billion federal loan require the automaker to push the union to accept half the money owed to the fund in company stock ...
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Sunday, March 8th, 2009
General Motors (NYSE:GM) and The Canadian Auto Workers have reached a tentative settlement.
The labor union said they'll announce details of the new accord at a press conference scheduled for Noon Eastern Standard Time in Toronto.
The CAW represents approximately 10,000 workers who will vote on the agreement Tuesday and ...
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Thursday, February 12th, 2009
You could hardly blame GM Ceo Rick Wagoner for being downbeat these days, what with all the bad economic news and all. Surprisingly, Wagoner isn't feeling blue. Instead he says GM has seen the worst of it and he expects a rebound.
Wagoner spoke with USA Today. ...
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Saturday, January 3rd, 2009
General Motors is finishing up what can only be described as a lousy year. The company just received over $9 billion in federal bailout funds and they're expected to post their worst sales numbers since 1992. If GM needed a slogan for 2008 it would be "Ouch."
Sales dropped ...
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Tuesday, December 16th, 2008
General Motors and Ford shares were up slightly on news that the companies may end up being bailed out by the US government. The proposed bailout had already been shot down by the Senate, but the White House indicated they'd do something to keep the struggling auto makers alive.
"An ...
Posted in Auto Industry News | No Comments »
Friday, October 3rd, 2008
GM plans on debuting new fuel-efficient Chevrolets at the 2008 Paris Auto Show. General Motors is anxious to show case the new Volt and Cruze lines because the company thinks those two lines should sell well in Europe.
The Chevrolet Cruze will be going on sale in Paris in Spring ...
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Thursday, October 2nd, 2008
General Motors is building a new plant in Flint to produce new, high tech 4 cylinder engines which will be used in their fuel efficient vehicles, the Chevrolet Cruz and the Chevrolet Volt.
The plant in Flint is scheduled to open in two years.
The Cruze, about the ...
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Monday, September 29th, 2008
GM wants to make sure they have enough money to continue operations, despite the ongoing credit crisis.
The company announced they've drawn down the rest of a $4.5 billion credit line they established with bankers two years ago.
The collateral for the credit consists of North American accounts receivable and inventory of ...
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