General Motors Co.'s bid to find an outsider to replace its chief financial officer is being complicated by pay restrictions imposed on companies that got big U.S. government bailouts, The Wall Street Journal reported.
Economy Minister Karl-Theodor zu Guttenberg expressed confidence that Germany could address EU concerns about a sale of GM's Opel to Canada's Magna International Inc., saying they did not put the deal at risk.
The auto boom came fast to this harbor town on Lake Michigan where Ramblers first rolled off the line a century ago. But the bust has been just as dramatic and decades in the making. Nash gave way to AMC, then Chrysler, then bankruptcy.
Toyota Motor Corp. said it plans to resume a second shift at its San Antonio, Texas, plant in February for the first time since August 2008, adding production of Tundra full-size pickup trucks.
General Motors Co. will boost its retail U.S. market share in October on the strength of new vehicles and increased ad spending, Edmunds.com says. GM will claim 22.4 percent of sales to individual U.S. customers, up from 19.
A bill to make fuel-efficient three-wheeled vehicles eligible for federal funding now available to automakers and their suppliers has passed Congress and is headed to the White House for President Barack Obama's signature.
Declining costs for labor and auto parts will allow automakers to make money at lower U.S. sales volumes next year, a J.D. Power and Associates analyst said.
EU competition head Neelie Kroes told Germany on Friday that General Motors Co. should be allowed to reconsider the sale of Opel to Magna International Inc. and its Russian partner Sberbank.
General Motors Co. will sign a deal to sell a majority stake in Opel next Tuesday or Wednesday, Die Welt German newspaper reported. GM is selling 55 percent of Opel to Canadian supplier Magna International Inc.
