GM is recalling 38,197 2012 and 2013 model cars with eAssist hybrid powertrains, the Wall Street Journal reports.
The Treasury will begin another round of sales for General Motor stock acquired during the government’s bailout of the auto sector, the department said on Monday.
General Motors CEO Dan Akerson refused to comment on the failed lawsuit negotiations that could imperil the company’s future after a closed door meeting with lawmakers on Capitol Hill.
General Motors CEO Daniel Akerson will roll up to Capitol Hill in a flashy new Corvette Stingray to sell lawmakers on the company’s prosperity less than 24 hours after settlement talks fell apart in a lawsuit that could undo the bailout.
Taxpayers now own a little less of General Motors. The U.S. Treasury sold $489.9 million in GM shares in the month of February, the Treasury Department has reported to Congress.
General Motors has flooded financial markets with auto-backed securities in an effort to offload its risky subprime loans onto banks, which is a strategy that industry insiders say could produce a bubble.
Auto companies are expected to have sold 14.5 million new cars in 2012, a 13 percent increase from the previous year.
A French car manufacturer that is partially owned by the taxpayer-funded General Motors Company (GM) claims to have ceased its longtime business dealings with Iran, though experts have cast doubts on this claim.
A New York federal judge may rule imminently on a case that could reverse the General Motors (GM) bailout and send the company back into bankruptcy, according to sources close to the case.
General Motors (GM) last week started buying out Ally Bank’s auto lending operations in an effort to reverse months of lagging growth.