The president of General Motors Europe, Carl Peter Forster, plans to resign in the wake of GM's decision this week not to sell its European wing, a source told CNN on Friday.
Thousands of Opel workers went on strike in Germany on Thursday in protest at the decision by U.S. parent General Motors to abandon the sale of the automaker.
GM has abandoned its planned sale of Opel to Canada's Magna and Russia's Sberbank . The surprise move will be an embarrassment for the German government which has expended a lot of political capital on the controversial deal.
Electric carmaker Fisker Automotive said Tuesday it is buying an old General Motors plant in Wilmington, Del., and plans on making up to 100,000 vehicles a year at the recently shuttered facility.
Stocks surged Thursday, with the major gauges ending at the highest point in nearly a year, having responded strongly to a debt auction and Procter & Gamble's improved forecast.
General Motors has agreed to sell a major portion of its European Opel division to a consortium led by the Canadian auto supplier Magna, the automaker announced Thursday.
General Motors is looking at shelving a German-backed bail-out of its Opel European car arm amid growing fears that long-running talks on the deal will end in failure.
The president of General Motors Europe, Carl Peter Forster, plans to resign in the wake of GM's decision this week not to sell its European wing, a source told CNN on Friday.
Thousands of Opel workers went on strike in Germany on Thursday in protest at the decision by U.S. parent General Motors to abandon the sale of the automaker.
GM has abandoned its planned sale of Opel to Canada's Magna and Russia's Sberbank . The surprise move will be an embarrassment for the German government which has expended a lot of political capital on the controversial deal.
Electric carmaker Fisker Automotive said Tuesday it is buying an old General Motors plant in Wilmington, Del., and plans on making up to 100,000 vehicles a year at the recently shuttered facility.
Stocks surged Thursday, with the major gauges ending at the highest point in nearly a year, having responded strongly to a debt auction and Procter & Gamble's improved forecast.
General Motors has agreed to sell a major portion of its European Opel division to a consortium led by the Canadian auto supplier Magna, the automaker announced Thursday.
General Motors is looking at shelving a German-backed bail-out of its Opel European car arm amid growing fears that long-running talks on the deal will end in failure.
The future of thousands of car industry jobs in Europe remained uncertain Monday as General Motors filed for bankruptcy after reaching a deal to sell off its European operations, including German automaker Opel, UK-based Vauxhall and Saab.
A Canadian auto parts supplier has come to the rescue of German carmaker Opel, negotiating a deal with the German government that will save the company from insolvency.
A Canadian auto parts supplier has come to the rescue of German carmaker Opel, negotiating a deal with the German government that will save the company from insolvency.
A bankruptcy filing for General Motors could come in the next few days, now that GM bondholders have rejected a proposed swap of $27 billion in unsecured company debt for 10% of GM's stock.
Fiat is looking to become the world's second biggest automaker after Toyota through deals with troubled U.S. carmakers Chrysler and General Motors. CNN's Jim Boulden explains how Fiat's fortunes rose while its U.S. rivals crashed.
As Chrysler struggles to emerge from bankruptcy, its guardian angel has been Fiat's Sergio Marchionne, ready to put his reputation on the line as the CEO of the reorganized company.
The German government is studying a proposal from Opel and its parent company, General Motors, to save the struggling carmaker with a huge cash injection and a cost-cutting plan.
General Motors' European division announced Friday that its German subsidiary, Opel cars, will become a separate company. GM will keep a stake in the new company.
With the 2008 model year now upon us, its a good time to look back at the first nine months of calendar 2007 to see who the champs and chumps are. The names may not surprise you but the amount of movement might.
When former General Motors chairman Roger Smith dreamed up Saturn in the 1980s, he envisioned a stand-alone small car company remote from the problems of bureaucratic GM that would sell 500,000 cars a year. But Smith retired in 1990 and his successors didn't see it that way. They took away Saturn's independence and starved it of new models.
A bomb ripped through a market in Baghdad's Sadr City on Thursday, another day of carnage in a city under siege by insurgents and people bent on sectarian revenge.
If you take a look at the car's being unveiled at the Geneva Motor Show in Switzerland, which opens to the public Thursday, you'll see some vehicles that look strangely familiar. But then, somehow, not quite.
Like a lot of men, Charlie Mack pines for a dream car that always seems to be tantalizingly out of reach. In his case, it's a boxy sea-green sedan, the 1966 Opel Diplomat. A rare few are being offe...
Auto manufacturers are lining up for the start of a new race for the European sports-car market. GM's Opel is quick off the mark this fall with its sporty, affordable Tigra. BMW has two two-seaters...
HOW DO YOU improve on success? That's the task Louis Hughes, 44, the vibrant president of General Motors Europe, attacks these days. GM is already the most efficient and profitable of Europe's auto...
VANS Michael Jordan might be pretty cool, but do you really want to drop $130 for a pair of sneakers? Doesn't $40 sound more like it? That's the psychology that analyst Alice Ruth of Montgomery Sec...
The soft-spoken mayor of Stedtfeld, a small town (pop. 600) in the former East Germany, has found that protecting the community's environment is as tough under the new capitalist system as it was u...
Want a high-growth stock selling at a modest price/earnings multiple? Try Commodore International, the $1-billion-a-year maker of personal computers. Its shares have been held back by dismal quarte...
Last year's currency unification sent shoppers in the former East Germany after brand-name goods like Sharp televisions. But now the economic crunch and high unemployment have converted the would-b...
DIVIDED GERMANY was a vast laboratory for the 20th century's momentous experiment to prove whether centrally planned communism or democratic market capitalism could better deliver prosperity and gr...
As the two Germanies unite, an American with a lot to sing about is General Motors' Louis R. Hughes, 41, chairman of the company's Adam Opel AG subsidiary in Russelsheim, West Germany. His home mar...
ITS MOST CELEBRATED executive is an American (Chrysler's Lee A. Iacocca), its most prestigious brand is European (Mercedes-Benz), and its most feared competitors are the Japanese (many of them). On...
WHILE A STUDENT in high school, Robert C. Stempel worked after hours and summers at an automobile garage in his hometown of Bloomfield, New Jersey. Like most teenagers he had his own ideas about ho...
General Motors' operations in Europe were sagging until the company centralized like Ford; with its West German subsidiary, Adam Opel, controlling its European car business, GM has spent a lot -- a...
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