GM is months away from bankruptcy. EDIT : Files for Chapter 11

[amarprusty]

M&M should buy GM that will be the last nail in the coffin to US-UK supremacy in automobiles.

Japanese & EU would be the only other worthwhile competitors leaving aside the cheap low quality chinese cars

With UK's Jaguar-Land Rover with Tatas and GM with M&M Indian Auto companies will be a force to reckon with Globally

[mjothi]

Have been to the service camp organised by GM. I appreciate their initiative. Especailly during current situation. They are keen on building a strong GM in India. We were discussing about new launches and it clearly shows that they are commited to get market. Some known launches are the Cruze & 2 lac mini car.

Many GM employees from purchase, safety etc were present getting feedbacks from the owners.

Lets see, how this turns out to be.

[Lukeskywalker]

From what we heard from the GM guys, they are far from shutting shop, they sounded pretty optimistic about the future, but then that's the whole big reason they were there, to sell us that.

[jagan0677]

I am worried that as much importance is given to GM is not being given to the dealer network or the supplier base. That area could throw up lots of surprises for the industry as a whole. Smart Managements @ Car Companies globally would do well to get into worthwhile deals / agreements with suppliers at this time. That should serve them two ways. One is they can start building a long term profitable relationship. The other, more critical, is they could avoid some of their critical suppliers going bust. The Auto sector could possibly take the biggest hit after the banks in this recession.

Or am I too pessimistic ?

[Bumblebee86]

[mjothi]

Some positive lights for GM or NGMCO

Late Sunday a bankruptcy court judge ruled that General Motors Corp. can sell the bulk of its assets to a new company, potentially clearing the way for the automaker to emerge from bankruptcy protection. The new company will be called "General Motors Co." The government will own about 61 percent, the United Auto Workers union 17.5 percent, the Canadian government 11.7 percent and the rest owned by unsecured bondholders.

More here

Bankruptcy judge OKs GM sale plan, appeal looms - Examiner.com

GM and Chrysler's bankruptcy cases at a glance - Examiner.com

[jagan0677]

Originally Posted by amarprusty

M&M should buy GM that will be the last nail in the coffin to US-UK supremacy in automobiles.

Japanese & EU would be the only other worthwhile competitors leaving aside the cheap low quality chinese cars

With UK's Jaguar-Land Rover with Tatas and GM with M&M Indian Auto companies will be a force to reckon with Globally

Just wondering at that statement. Getting into an ego tussle doesnt make much business sense for M and M. Especially when GM is the equation .

[anjan_c2007]

GM has backtracked on its board decision to hive off Opel and Vauxhall to Magna, the Canadian auto parts maker and the Russian bank Sberbank. The duo viz. Magna Sberbank were expected to axe many mainly German autoworker jobs.
The U turn by GM gave a new hope to the auto workers who had expected job cuts and plant closures. GM had said that it was willing to keep Opel and Vauxhall, two very old brands but restructure them and intending to restart from zero. Yesterday GM announced a job cut of about 10,000 mostly in Opel, Germany and plant closures.It has said that its plan is similar to that of Magna -Sberbank.
Thousands from the 25000 workers of GM, Germany's (Opel) operations gathered outside the Ruesselsheim factory to protest against GM's refusal to sell its European operations.