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Old 28th April 2009, 06:58   #166
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Just heard it on FOX news. Pontiac is indeed being discontinued.

Source:
Pontiac Shut Down
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Old 28th April 2009, 07:09   #167
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so what will happen to GM india.
i think this will affect future launches in india
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Old 28th April 2009, 08:35   #168
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GM doesn't have Pontiac here. I don't think they were planning to launch cars with 6.2L V8s in our "mileage kitna hai" country :P
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Old 28th April 2009, 08:51   #169
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saw a news that FIAT is going to take over GM Europe operations ?? Does that mean it can happen in India too ? Can we see FIAT Aveo, FIAT Optra running on our roads !!!! ?
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Old 28th April 2009, 10:11   #170
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Saw in a news report that Fiat is eying Opel. Actually, not a bad idea I guess. GP already shares platform with the new Opel Corsa. Lot of engine options are also the same.
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Old 12th May 2009, 19:13   #171
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Quote:
He said it was "more probable that we would need to resort to a bankruptcy process, but there's still an opportunity and still a chance for it to be done outside of a court process."
Quote:
Henderson added that the company was looking at its operations "country-by-country" to determine where it may need bankruptcy protection.

Bankcruptcy looking more probable: GM CEO

Last edited by amit : 12th May 2009 at 19:14.
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Old 12th May 2009, 19:30   #172
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This is really sad news,Did the daewoo demon catch the GM.Daewoo had the news running arround in the same fassion.And we all hoped that daewoo India would be an independent company etc etc and atlast fate had its own route.GM took over the daewoo and the demon has caught it almost 10 yrs after the take over of daewoo.
Anyways its not good news for the company that such news are spreading.
ram
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Old 19th May 2009, 19:56   #173
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I guess this is the latest GM bankruptcy seen as all but inevitable- International Business-News-The Economic Times

Quote:
Originally Posted by Economic times - extract
"I almost think it is inevitable," independent auto industry analyst Erich Merkle said. "I don't know how they are going to escape it."

The battery of problems to have hit GM range from plunging sales and declining share to a line-up that has seen more misses than hits over the past decade and that trails engineering leaders like Toyota Motor Corp and Honda Motor Co in hybrid technology.

But GM's debt-laden balance sheet is the source of its immediate crisis and the reason restructuring experts, analysts and auto executives do not see a way forward that avoids what could be a complicated and contentious bankruptcy.

Last edited by SLK : 19th May 2009 at 20:00.
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Old 25th May 2009, 10:13   #174
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What now??

GM borrows $4 bln more, prepares for bankruptcy - Yahoo! India News
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Old 30th May 2009, 02:02   #175
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GM To File Bankruptcy On Monday - Treasury Department Plans To Pay $50 Billion Bill

General Motors Corp., the world’s largest automaker until its 77-year reign ended in 2008, plans to file for bankruptcy protection on June 1 and sell most of its assets to a new company, people familiar with the matter said.

GM’s path will be smoothed by an accord today giving some of its biggest bondholders an equity stake in the reorganized automaker. The U.S. Treasury is requiring that an unspecified percentage of debt holders accept the terms by 5 p.m. New York time on May 30, Detroit-based GM said in a regulatory filing.
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Old 1st June 2009, 20:06   #176
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The inevitable has finally happened. It will be interesting to see how GM restructures itself over the next few months. Apparently, US government now owns 60% of GM. Canadian government will pick up another 12.5% stake which means 72% of GM is now government owned!

Source: CTV, Canada.
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Old 1st June 2009, 20:24   #177
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It is official -

GM runs out of gas, files for bankruptcy- International Business-News-The Economic Times

Time to retitle the thread - "End of GM - files for bankruptcy"
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Old 1st June 2009, 21:17   #178
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Quote:
Originally Posted by BaCkSeAtDrIVeR View Post
It is official -

GM runs out of gas, files for bankruptcy- International Business-News-The Economic Times

Time to retitle the thread - "End of GM - files for bankruptcy"
NO! its not the end. Just the last chance.
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Old 1st June 2009, 22:28   #179
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GM enters bankruptcy protection

Car giant General Motors (GM) has filed for bankruptcy protection, marking the biggest failure of an industrial company in US history. The widely expected move comes after GM had seen its losses widen following a steep fall in sales in recent years. The move into bankruptcy protection has been backed by the US government, which is now expected to take a 60% stake in the company. The White House is also going to put another $30bn (18.5bn) into GM. Its main European business, Opel, and its UK brand Vauxhall, will not be affected by the bankruptcy protection move. This is because their ownership has been transferred to a trust fund ahead of their sale, GM Europe confirmed in a statement. Even as its American parent General Motors (GM) has filed a bankruptcy petition, its Indian subsidiary GM India announced Monday that it remains unaffected. GM has filed a bankruptcy petition under Chapter 11 of the United States Bankruptcy Code. According to GM India, the Indian operations do not form part of the bankruptcy proceedings filed in the US which is expected to be completed in two months' time. GM, once the largest company in the world, has been losing market share since the early 1980s. It has been driven to bankruptcy by high production costs and the collapse in credit markets and consumer spending. It made losses of $30bn last year. GM was also slow to move away from producing gas-guzzling SUVs when consumers were looking for more fuel-efficient vehicles. Toyota sold more vehicles than GM in 2008, putting an end to the US company's 77-year reign as the world's biggest carmaker. (Courtesy: BBC and IBN Live)

Last edited by gaddiwale : 1st June 2009 at 22:30.
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Old 1st June 2009, 22:34   #180
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Default GM files for bankruptcy & FIAT spa led group to buy Chrysler

how the tides have turned !!!!

how many posts here in the past putting a date on FIAT's imminient closure ??

Now a group led by FIAT spa will apparently take over all of Chrysler's assets.

and oh...GM is officially bust.

GM files for bankruptcy, Chrysler sale cleared - Yahoo! News
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