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Reports that General Motors will sell Opel dismissed as 'nonsense'
Thu, 09 Jun 2011German press reports that General Motors Co. is putting its European unit Opel/Vauxhall up for sale were dismissed as speculation by the division and as "nonsense" by a German state with an Opel factory. The magazines Auto Bild and Spiegel reported that GM is considering putting Opel up for sale as management is losing confidence that its European arm will return to profitability.
GM posts $7.6 billion profit for 2011
Thu, 16 Feb 2012General Motors on Thursday posted a $7.6 billion profit for 2011, while recording its smallest quarterly profit of the year in the fourth quarter. Net income for the October-through-December period fell 7 percent from the year-earlier period to $472 million, as a $562 million loss in Europe--the steepest of the year there--weighed on the automaker's bottom line. North American earnings nearly doubled.
Saab SOLD to National Electric Vehicle Sweden
Thu, 07 Jun 2012The Swedish press are reporting this morning that Saab administrators have agreed a deal to sell Saab to National Electric Vehicle Sweden. The Saab Saga has been going on so long it’s hard to think of it is a car maker any more. But that may be about to change.