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On May 27, 2009, the U.S. Treasury advanced a secured loan of US$360.6 million to GM, and GM issued a note to the Treasury for US$360.6 million, plus $24.1 million USD as additional compensation for the warranty advance, pursuant to the terms of the Warranty Agreement dated December 31, 2008, between GM and the U.S. Treasury. The loan funded a ...
GM would continue to supply architecture and powertrain technology for an unspecified amount of time. [17] It also becomes the last brand/subsidiary from GM to be sold (Hummer was first, followed by Saturn). The deal failed on November 24, 2009. [18] GM, however, requested Spyker Cars to acquire Saab from MLC a few weeks later. But however, MLC ...
Buyers can take a new GM car off the lot and drive it for up to 60 days. If they don't like it, they can return the car without penalty between the 31st and 60th GM's money-back guarantee
GM plans to launch predominately fuel-efficient cars and crossovers over the next four years, investing $2.9 billion in fuel-efficient technologies and alternative fuels during that time period. By 2012, GM will offer 15 hybrid models, and more than half of its fleet will be flex-fuel vehicles, able to run on either gasoline or ethanol-rich E85 ...
GM is potentially facing a large warranty issue as the National Highway Traffic Safety Administration (NHTSA) opened a preliminary investigation into engine failure affecting 877,710 GM SUVs and ...
The Detroit Free Press has learned more details on when GM and the UAW will start the first phase of the $50,000 retirement buyout program.
Delphi, which was spun off from GM in 1999, filed for Chapter 11 bankruptcy after the UAW refused to cut their wages and GM is expected to be liable for a $7 billion shortfall. [74] [75] [76] In order to improve profits, the Detroit automakers made agreements with unions to reduce wages while making pension and health care commitments.
The GM tentative agreement mirrors much of what is in the agreements with ... 2018 — the day GM announced it would close the facility — to apply to return to the area and work at the Ultium ...