More in Restructuring

  • Newswire

    Opel Sees Parent GM as Key to Return to Profitability  

    Chief Executive Karl-Thomas Neumann says Opel and sister brand Vauxhall will focus on smaller cars sharing more components with other GM products in their drive to become Europe's No.2 passenger-car maker by 2022....More
  • Newswire

    Daimler Abandoning Car-Sharing Venture in U.K.  

    The German automaker says car2go failed to attract 10,000 U.K. customers since its December 2012 launch in London and was not sustainable....More
  • Newswire

    Saab's Chinese Owner Halts EV Production  

    National Electric Vehicle Sweden, the Chinese company developing an electric version of the Saab after buying the bankrupt Swedish automaker, blames the shutdown on a lack of cash to pay outstanding debt....More
  • Newswire

    Chrysler Reports Q1 Loss on Fiat Merger Costs  

    The Auburn Hills, Mi-based automaker, a unit of Fiat Chrysler Automobiles, reports a $504 million non-cash charge mainly accounted for its first-quarter loss of $690 million, but expects net 2014 revenues of $80 billion....More
  • Newswire

    UPDATE 2-Fiat Chrysler shares tumble on strategic plan doubts  

    * Shares briefly suspended after falling more than 9 pct * Q1 loss underscores challenges ahead for Fiat Chrysler * Analysts question funding, some see capital increase (Adds analyst comments, share suspension) By Stefano Rebaudo and Laurence Frost MILAN/PARIS, May 7 (Reuters) - Fiat Chrysler shares fell sharply on Wednesday as analysts questioned whether it could achieve the targets of Chief Executive Sergio Marchionne's new strategy for the carmaker - and how the plan would be funded....More
  • Newswire

    PSA Names New Peugeot, DS Brand Chiefs  

    Citroen's U.K. operating chief, Linda Jackson, replaces Frederic Banzet, a member of the automaker's founding Peugeot family, while PSA strategy director Yves Bonnefont will head the premium DS marque as it separates from Citroen....More
  • Newswire

    Visteon Selling Most of Auto-Interiors Segment to Cerberus  

    The automotive-interiors unit, which manufactures components such as instrument and door panels on three continents, contributed about $1 billion to the supplier's 2013 sales of $7.4 billion....More
  • Newswire

    GM Bailout Cost Taxpayers $11.2 Billion  

    A new Treasury Dept. report says the $11.2 billion the government lost on its bailout of the automaker was more than the $10.3 billion estimated when it shed the last of its GM shares in November....More
  • Apr 30, 2014
    blog

    Ford’s Fields the Right Man for Top Job

    Chief Operating Officer Mark Fields has been groomed his entire professional life to take the helm at Ford and has proved he is ready for the job....More
  • Newswire

    Daimler Employees to Protest O&O Dealership Revamping  

    Monday's protests by IG Metall members are a response to the automaker's plans to restructure its unprofitable company-owned and -operated retail outlets, which the union fears could cost jobs....More
  • Newswire

    Mazda Entering Talks With Ford to Shed Stake in Michigan JV  

    The Japanese automaker owns a 50% share of the AutoAlliance International but has not manufactured vehicles at the JV's Flat Rock, MI, plant since August 2012....More
  • Apr 24, 2014
    blog

    GM Profit Report Further Clouds Spotlight on CEO Mary Barra

    The chief executive caps her first 100 days on the job by reporting a razor-thin profit of $125 million, down 86% from year-ago, and bruised by the recall of 7 million vehicles....More
  • Newswire

    UPDATE 3-GM seeks U.S. court protection against ignition lawsuits  

    (Adds judge's order of conference date) April 22 (Reuters) - General Motors Co filed a motion in a U.S. court to enforce a bar on lawsuits stemming from ignition defects in cars sold before its 2009 bankruptcy as it fights proposed class action litigation that seeks to set aside the restriction. Plaintiffs suing the company also filed a proposed class action lawsuit in Manhattan bankruptcy court on Monday, seeking an order declaring that GM cannot use the bankruptcy protection to absolve itself from liabilities....More
  • Newswire

    GM to Ask Court to Freeze Lawsuits Over Ignition Defects  

    The automaker wants a federal court in California to suspend litigation related to actions involving the so-called Old GM, which produced the defective cars prior to its 2009 bankruptcy filing....More
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