Pontiac News

General Motors Corp. said Monday it is ending its joint venture with Toyota Motor Corp.

As a smaller, sleeker General Motors Corp. awaits a judge's green light to exit bankruptcy, Al Koch, GM's chief restructuring officer, says it will take two or three years and about $1.25 billion for the so-called Old GM to settle claims and dispose of factories no longer needed by the government-controlled automaker.

Steven Orrence, a prep cook at Cafe Nola in downtown Frederick, will be driving cross country with a friend in August.

During about five hours of questioning in a hot, crowded Manhattan courthouse, General Motors Corp.

With General Motors now officially terminating its joint-venture at the New United Motor Manufacturing Inc.

The cost to wind down what remains of General Motors Corp. after an asset sale to a U.S. Treasury- backed buyer is rising, topping the $950 million set aside by GM and the government, executives for the automaker testified.

As reported by our colleagues over at GreenCarReports.com, the PT Cruiser has a somewhat 'irrational' following, especially given a car that was debuted in 1999.

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.

Ford Motor Co. of Canada Ltd. has claimed the top spot in Canadian vehicle sales in June for the first time in 50 years, the company reported Thursday.

The marriage of General Motors and Toyota in Fremont, affectionately known as NUMMI, ended Monday after some 25 years of what appears to have been a lopsided affair, where the love of profitable innovation was a one-way street.

General Motors Corp would be forced into liquidation if its proposed asset sale were not approved despite urging from dissident bondholders that another course be pursued, the companya s lead bankruptcy lawyer said Thursday.

Well, maybe it is, but since the PT Cruiser had been on the market since 1999 , it does seem reasonable that GM would want to get in on the retro wagon market after Chrysler had been in the market without competition for 6 years.

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

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

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.

U.S. car and truck sales showed signs of stabilizing in June after a year of sharp declines, but every major automaker except Honda Motor Co.

Greg Keenan Globe and Mail Update Last updated on Tuesday, Jun. 30, 2009 07:44PM EDT T he Magna International Inc.

U.S. car companies General Motors and Ford say they are suspending operations on their production lines in Russia because the economic crisis is squeezing consumers' demand for new cars.

General Motors Corp said on Wednesday that sales in China jumped 38 percent in the first half of this year, helped by strong demand for its minivans and other small vehicles.

General Motors CEO Fritz Henderson on Tuesday defended the automaker's plan to sell the bulk of its assets to a new company and quickly emerge from bankruptcy protection.