General Motors is now notorious for reaching deep into the pockets of taxpayers to bail itself out of a bad situation. In 2008, under the Troubled Asset Relief Program, or TARP, President Bush doled out the first round of what eventually became a $50 billion bailout of the Detroit automaker. With that, the United States government became a majority owner in the company. (more)
With over nine million cars sold, General Motors has once again become the world’s largest automaker. (more)
DETROIT (AP) — General Motors is advising Volt owners to return their electric cars to dealers for repairs that will lower the risk of battery fires. (more)
General Motors Co. (GM) has hired management consultant Hackett Group (HCKT) to help identify areas to cut an undetermined number of white-collar jobs, said two people familiar with the matter. (more)
The autopsies for the Saab car company are rolling in. Forbes’ Joann Muller writes that the head of Spyker Cars, which bought the company from General Motors, “learned, as so many before him . . . that it takes an enormous amount of capital to operate an automotive company. And this industry already has too many brands, and too many factories for all to be profitable.” Forbes’ Patrick Hanlon adds that “Saab was never a brand at all. . . . And because the car held no real meaning for consumers, and no reason for being, it ceased to be.” (more)
General Motors predicted it would sell 10,000 Chevrolet Volt automobiles by the end of the year, but it is only on track to sell roughly 7,000 of these plug-in hybrids before 2012. (more)
Taxpayers will lose about $14 billion on the $82 billion investment to restructure General Motors, Chrysler and Ally Financial, former auto czar Steven Rattner said Thursday. (more)
Today, the National Legal and Policy Center submitted a Freedom of Information Act (FOIA) request to the National Highway Traffic Safety Administration (NHTSA) for all communications with General Motors (GM) regarding the Chevrolet Volt. (more)
DETROIT (AP) — The liquid solution that cools the Chevrolet Volt’s batteries is the likely cause of fires that broke out inside the electric car after government crash tests, a person briefed on the matter said. (more)
Ohio Republican Rep. Michael Turner is pushing for a congressional investigation into what he considers Treasury Secretary Timothy Geithner’s “conflicts of interest” during and after the government bailout of General Motors. (more)
The White House’s green technology revolution is sitting in an auto lot in Butler, Pa., and nobody is buying. (more)
President Obama glowingly defended the $85 billion auto industry bailout during a speech to Detroit auto workers Friday, saying “the investment was worth it.” (more)
In radio ads and literature, “OnStar” is portrayed by its parent company, General Motors, as a benign service, the only purpose of which is to enable elderly folks, mothers with children and lost drivers in general to quickly access emergency and locator services by communicating with friendly voices that are always willing and able to help. There is, however, a darker side to OnStar, as recently altered GM policies revealed. (more)
DETROIT — A new four-year contract deal between the United Auto Workers and General Motors Co. will add or keep 6,400 jobs in the U.S. with a $2.5 billion investment, the union said Tuesday. (more)
General Motors agreed in Shanghai today to develop an electric vehicle with long-time Chinese partner SAIC. (more)
DETROIT (AP) — After years of big discounts, GM is finally getting a good price for its cars and trucks, and it’s helping the company’s bottom line. (more)
TheDC’s Matthew Boyle talked with Neil Cavuto on Fox Business about his story on the Obama administration’s role in directing operations at General Motors as the company was receiving federal bailout money. (more)
New emails obtained by The Daily Caller contradict claims by the Obama administration that the Treasury Department would avoid “intervening in the day-to-day management” of General Motors post-auto bailout. (more)
It’s a perennial debate around Detroit: Who’s better — GM or Ford? (more)
General Motors Co. CEO Dan Akerson wants the federal gas tax boosted as much as $1 a gallon to nudge consumers toward more fuel-efficient cars, and he’s confident the government will soon shed its remaining 26 percent stake in the once-bankrupt automaker. (more)
