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Magna board set to approve Opel plans: sources

Magna's board of directors is scheduled to approve on Tuesday a business plan for the acquisition of German carmaker Opel, two sources familiar with the matter said on Thursday.

Magna set to resolve Opel issues by July 7: sources

Magna expects to resolve the last few issues holding up its takeover of German carmaker Opel from former parent General Motors by Tuesday, two sources familiar with the matter said on Thursday.

Beijing Automotive plans Opel bid: report

Beijing Automotive Industry Holding Co plans to present a detailed bid for General Motors Corp's Opel unit in Europe within the next few days, The Wall Street Journal reported, citing a person familiar with the matter.

More job losses, China's net filter delay, California's IOU problem

Layoffs for the month of June exceeded the expectations, China on Tuesday delayed implementation of a controversial rule that requires all manufacturers to install Internet filtering software, California state resorts to issuing IOU's after the governor and lawmakers failed to reach a budget agreement.

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Lear to file for bankruptcy, obtains financing

Auto seating supplier Lear Corp said on Wednesday it would file for Chapter 11 bankruptcy protection in a reorganization supported by key secured lenders and bondholders and that it had obtained $500 million in bankruptcy financing.

June auto sales tumble, Ford takes share

U.S. auto sales tumbled in June as the economy remained a deep concern for consumers, but Ford Motor Co posted far better results than other large automakers and shot ahead of Detroit rivals passing through federally sponsored bankruptcies.

June auto sales show stability

Major automakers posted better U.S. auto sales for June than in recent months on Wednesday, led by Ford Motor Co as results pointed to signs of some stabilizing in the hard-hit industry.

GM seeks sale approval, official sees IPO in 2010

If General Motors wins court approval for its asset sale this week, a New GM could be ready to make an initial public offering in 2010, a U.S. Treasury official testified in U.S. bankruptcy court on Wednesday.

GM sees a record-breaking half-year sales in China

General Motors Corp (GM) sold a total of 814,442 units from January to June in China, a record for any half-year, the company said in a statement on Wednesday.

June auto sales show stability, led by Ford

Major automakers posted better U.S. auto sales for June than in recent months on Wednesday, led by Ford Motor Co as results pointed to signs of some stabilizing in the hard-hit industry.

U.S. to pull GM funding if sale not done by July 10

The only viable option to save General Motors Corp is a sale of its main assets to a New GM backed by the federal government, a U.S. Treasury official told a bankruptcy court on Wednesday as the automaker sought approval for the deal.

GM China sets Record Sales in China

General Motors said on Wednesday its China vehicles sales rose 38 percent in the first half of 2009 from a year earlier as China's stimulus policies boosted automobile demand.

GM back in court to seek approval for sale

The only viable option to save General Motors Corp is a sale of its main assets to a New GM, a U.S. Treasury official told a bankruptcy court on Wednesday as the automaker sought approval for the deal.

RHJ FY loss widens sharply, sparks Opel doubts

Holding company RHJ International posted a sharply wider full-year loss and a 43 percent fall in the value of its portfolio, sparking fresh doubts about its bid for General Motors' Opel unit.

Auto sales seen showing signs of stability

Major automakers are expected to report the highest sales rate of 2009 when they post results for June, as deep discounts limit industry-wide results to a 30-percent decline.

GM CEO makes case for bankruptcy asset sale

General Motors Corp's chief executive told a U.S. bankruptcy court on Tuesday that the sale of GM's main assets to government-backed New GM must win court approval in order for the automaker to survive.

US June auto sales seen showing signs of stability

Major automakers are expected to report the highest sales rate of 2009 when they post results for June, as deep discounts limit industry-wide results to a 30-percent decline.

GM sale hearing under way in U.S. bankruptcy court

A U.S. bankruptcy court judge opened a hearing on Tuesday morning on government-backed plans by General Motors Corp to seek approval to sell its main assets to a New GM.

GM sale hearing in recess in U.S. bankruptcy court

A General Motors Corp bankruptcy court hearing in which the company is seeking to sell its main assets to a New GM began on Tuesday but moved to a recess almost immediately as the judge dealt with communication issues.

GM cuts ties with Toyota in U.S. joint-venture

General Motors Corp cut operational ties on Monday to a northern California auto plant it had operated in a joint-venture with Toyota Motor Corp for a quarter of a century.

The Path to New GM

New GM. It has been the mantra General Motors Corp. has adopted since it officially determined that the once venerable American car company had to radically change its plans for the future.

General Motors to seek approval to sell itself

General Motors Corp is heading to bankruptcy court on Tuesday to seek approval to sell its assets to a New GM in a plan to reinvigorate the automaker under U.S. government ownership.

Bankruptcy court to rule on New GM plan

General Motors Corp is heading to bankruptcy court on Tuesday to seek approval to sell its assets to a New GM in a plan to reinvigorate the automaker under U.S. government ownership.

Magna-Opel deal in doubt

Efforts to save two leading European carmakers took a twist on Tuesday that could change the ownership of both crisis-hit General Motors Corp's Opel and German sportscar maker Porsche .

General Motors close to Opel deal with RHJ: report

Belgium-based RHJ International is close to a deal to buy a stake in Opel after talks between parent General Motors and preferred bidder Magna International hit snags, the Financial Times reported.