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GM signs deal to sell Hummer to Chinese company
Fri, 09 Oct 2009General Motors Co. has inked a deal to sell its premium off-road brand Hummer to a Chinese industrial company. GM said on Friday that it has a definitive agreement with Sichuan Tengzhong Heavy Industrial Machinery Co.
GM sells Suzuki shares to raise emergency funds
Mon, 17 Nov 2008By Tim Pollard Motor Industry 17 November 2008 15:24 GM is flogging its entire stake in Suzuki to pump cash into its survival funds. The General owns a 3% holding in Suzuki Motor Corporation and will sell 16,413,000 shares on the open market tomorrow. Based on today’s values, GM will raise an estimated £154 million through the sale, although Suzuki will exercise an option to buy back an equivalent number of its own shares in treasury stock.
Toyota: Fixes are working on recalled vehicles
Tue, 09 Mar 2010Toyota maintains that the fixes being made to correct unintended acceleration in millions of recalled vehicles are sufficient. But at a press event Monday, company officials said they are willing to bring in as many independent researchers as needed to resolve the issue once and for all. “We don't think there is a ghost issue out there,” said Kristen Tabar, general manager of electronic systems at the Toyota Technical Center in Ann Arbor, Mich.