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The new General Motors was named General Motors Company LLC, a separate and independent entity from the old corporation. The new company retained four of its major brands: Chevrolet, Cadillac, GMC, and Buick. It planned to keep 3,600 out of 6,000 of its US dealerships.
Consolidation of the automobile industry is an ongoing occurrence. Behind each automobile brand lies larger parent corporations.Auto mobile corporations, external corporations and private shareholders commonly own varying amounts of multiple auto mobile corporations, thus resulting analysis of relationships between auto mobile corporations becomes increasingly complicated.
General Motors Financial Company, Inc. is the financial services arm of General Motors.The company is a global provider of auto finance, with operations in the United States, Latin America, Canada, Europe (which was sold to PSA Groupe and BNP Paribas following the sale of GM's core area businesses Opel and Vauxhall in a $2.2 billion deal), and China.
On December 10, 2008, the House Financial Services Committee released a copy of the proposed financial bailout package [71] for GM, Ford, and Chrysler. The bill proposed the appointment of a ' car czar ' to oversee automakers' restructuring efforts, [ 72 ] and restrictions on executive bonuses, golden parachute packages and required automakers ...
General Motors Company (GM) [2] is an American multinational automotive manufacturing company headquartered in Detroit, Michigan, United States. [3] The company is most known for owning and manufacturing four automobile brands: Chevrolet, Buick, GMC, and Cadillac, each a separate division of GM.
Ally Financial Inc. (known as GMAC until 2010) is a bank holding company incorporated in Delaware and headquartered at Ally Detroit Center in Detroit, Michigan.The company provides financial services including car finance, online banking via a direct bank, corporate lending, vehicle insurance, mortgage loans, and other related financing services such as installment sale and lease agreements.
Renault announced a net profit for 2008 of 599 million euros for the 2008 financial year. This was a 78% drop in profits from the 2007 financial year. European sales fell 4% and worldwide sales 7%, forcing Renault to abandon their 2009 growth targets. [37] This however made Renault one of the few car makers to return a profit.
The group will pay GM $7.4 billion in cash at closing. GM will retain approximately $20 billion in automobile financing worth an estimated $4 billion over three years. GM sold its remaining 8% stake in Isuzu, which had peaked at 49% just a few years earlier, [34] on April 11, 2006, to raise an additional $300 million.