General Motors CEO Ed Whitacre is expected to announce today that the automaker has already paid off all of its $6.7 billion in loans to the U.S. and Canadian governments. Back in November, GM announced it would begin paying back the loans and today Whitacre is scheduled to make the announcement that the remaining $5.8...
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Some say he dated Princess Leia, that he once punched Neil Armstrong in a bar fight, and he’s deathly afraid of the Canadarm. All we know is that he’s called Robonaut 2. This 300 lb. robot, developed by NASA and General Motors, will blast into space as part of mission STS-133 aboard the space shuttle...
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General Motors has announced it will expand the use of a brake override system to all eligible cars, just as the National Highway Traffic Safety Administration (NHTSA) has reportedly opened an investigation into brake issues on GM products that could see a recall of up to 6.2 million vehicles. The “enhanced smart pedal” technology will...
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In an effort to provide better customer support and head off problems before they get out of control, General Motors has created a new “task force” aimed at monitoring social media sites for complaints about GM vehicles and looking to find solutions. A report in the Detroit Free Press highlights the story of one woman,...
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You knew it would only take time before General Motors took on Ford and its EcoBoost engine, and that time has just about come reports GMInsideNews. According to GMI’s sources inside General Motors, the automaker is currently in development of a 3.0-liter V6 with twin-turbochargers. There’s no word on actual output, but the same sources...
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Just a day after announcing the successful sale of Saab, General Motors today announced that a deal to sell its Hummer unit of SUVs has fallen through. GM has been negotiating with Sichuan Tengzhong Heavy Industrial Machines Co., Ltd., but today announced in a statement that the Chinese heavy machinery maker was, “unable to complete...
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General Motors has just announced that the sale of its Swedish Saab unit to Dutch exotic car maker Spyker has been completed. The new company, called Saab Spyker Automobiles, will now begin a new era for Saab, saving thousands of jobs in Sweden and at dealerships in the United States. Saab Spyker will begin to...
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General Motors has just announced it has reached an agreement to sell its loss-making Saab division to Dutch exotic car maker Spyker Cars NV. Saab and Spyker will form a new company, Saab Spyker Automobiles and the deal is expected to be finalized in February pending approval by several regulatory bodies and the Swedish government....
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Spyker Cars is expected to announced later today that a deal has been reached to purchase Swedish automaker Saab from General Motors. According to Automotive News, a person close to the ongoing talks between GM and Dutch exotic car maker Spyker has leaked the information. Recently investment company Genii Capital, backed by Formula One boss...
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General Motors’ vice chairman of global product operations is so strong a believer in his company’s product he’s willing to prove it in a tug-of-war between the GMC Heavy Duty and the Ford F-Series Super Duty. Vice Chairman Tom Stephens made the bold statement in an interview with PickupTrucks.com about the new Duramax engines powering...
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What’s Swedish automaker Saab worth? According to some reports, just $1. Recent rumors have suggested that a partnership between Genii Capital, Formula One boss Bernie Ecclestone and Swedish businessman Lars Carlstrom will offer General Motors one hundred shinny pennies or the loss-making Swedish automaker, saving GM the cost of shutting it down. GM has already...
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General Motors is asking Tiger Woods for its cars back, after an agreement with the golf star ended two weeks ago. A contract between Woods and GM’s Buick brand expired in 2008, but the controversial golfer was allowed access to GM products, including the Cadillac Escalade SUV that he so famously crashed in his Florida...
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It’s been said several times before, but GM Chairman and CEO Ed Whitacre today told reporters that the company is shutting down its Swedish Saab unit. “We’re closing down Saab,” he said. “We’re winding it down.” Recently GM hired on wind-down firm AlixPartners, but continued to say that it was evaluating proposals from several interested...
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The future of Saab just became a little more certain today. Or did it? General Motors has released in a statement that it has hired on AlixPartners to oversea the wind-down of its loss-making Saab unit. In other words, GM is planning to close the doors on the Swedish automaker, sending the company into liquidation...
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General Motors has reportedly delayed a board meeting that was to decide the fate of its loss-making Saab unit today, as a new bidder has emerged onto the scene. GM had already postponed Saab’s fate by dropping a self-imposed December 31st deadline in favor of a January 7th one. Now it is giving Spyker, as...
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Later this week General Motors is expected to pronounce on the fate of its loss-making Swedish unit, with a potential purchase by Dutch exotic car maker Spyker still a possibility. In an interview with AOL Autos, Spyker CEO Victor Muller discussed many of his plans to rejuvenate Saab, as well as another plan to sell...
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With General Motors announcing recently that it would drop Saab’s December 31st deadline and continue to search for a capable buyer for the Swedish brand, enthusiasts of the Swedish brand are banding together in an effort to save Saab. In a post on enthusiast site SaabHistory, a blog post urges owners to join in a...
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There are almost too many stories and rumors about Swedish automaker Saab to keep up with, as the latest reports suggest not one but two Dutch billionaires are involved in a new deal that would see Spyker purchase the loss-making division from General Motors. Dutch business daily Het Financieele Dagblad suggests Dutch media tycoon John...
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Those digging the grave for Saab might want to put their shovels down after Spyker Cars has submitted a new proposal to purchase the Swedish automaker from General Motors. On Friday GM announced that a deal could not be reached and said it would begin an orderly wind down for Saab. According to Spyker CEO...
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General Motors has announced it will close down Saab after discussions to sell the brand fell through. “Despite the best efforts of all involved, it has become very clear that the due diligence required to complete this complex transaction could not be executed in a reasonable time,” said Nick Reilly, president of GM Europe. “In...
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***See AutoGuide’s LIVE 2010 Detroit Auto Show Coverage Here*** The short list for North American Car & Truck of the Year just got a lot shorter and the list of finalists includes one GM product and one Ford product in each category. The three finalists for 2010 North American Car of the Year include the...
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Dutch exotic car maker Spyker is likely to become the new owner of Swedish automaker Saab after GM Chairman and CEO Ed Whitacre confirmed there are no other bidders. Earlier this week GM reached a deal with Beijing Auto to sell off old Saab assets so the Chinese company could produce previous generation Saab models...
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General Motors has reached an agreement to sell off part of its struggling Saab division to China’s Beijing Auto (BAIC). The deal would see BAIC take control of Saab’s rights assets and tooling assets of the past 9-5 and 9-3 models in order to build those vehicles in China. Saab’s future has been uncertain for...
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The Swedish government is putting the pressure on General Motors, saying that it must make a decision this week on the sale of Saab if the deal is to go through by the end of the year. “They must at least have chosen one of the interested parties this week, otherwise it will be tough...
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