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On February 18, 2009, General Motors and Chrysler again approached the U.S. government, in regard to obtaining a second bridging loan of $21.6 billion (£15.2 billion). $16.6 billion of this would go to General Motors, while Chrysler would take $5 billion. General Motors agreed to shed 47,000 jobs, close five plants, and axe 12 car models.
Chrysler filed for chapter 11 bankruptcy protection on May 1, 2009 [94] followed by General Motors a month later. [95] On June 2, General Motors announced the sale of the Hummer brand of off-road vehicles to Sichuan Tengzhong Heavy Industrial Machinery Company Ltd., a machinery company in western China, a deal which later fell through.
Plant 5 fronted Franklin Road north of Plant 3. In 1943, GM acquired the remaining interest in Yellow Truck & Coach Manufacturing Company and renamed it GMC Truck & Coach Division. [6] Around 1981, Plant 1 was demolished. Plants 3 and 5 were demolished around 2005, and Plant 4 in 2008.
General Motors is recalling nearly 820,000 pickup trucks over a potential safety issue involving tailgates.. The automaker says that the electronic latch mechanism used to open the gate of some ...
Due to a long-lasting downturn in sales of full-size trucks and SUVs in the United States (by as much as 30% through the first nine months of 2008), General Motors cancelled the next-generation full-size truck program in May 2008, including the replacements for the Chevrolet Tahoe and Suburban and their siblings at GMC and Cadillac. [4]
The poor performance of General Motors' Chinese joint ventures is forcing the company to write down assets and take a restructuring charge totaling more than $5 billion in the fourth quarter of ...