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Detroit’s automakers on Tuesday all posted strong sales increases in January compared to a year ago, led by General Motors Co.’s 18.3 percent gain — its best January in seven years, reported The Detroit News. Buyers took advantage of low gas prices, easy access to credit and stable feelings about the economy to buy vehicles, ... Read More »
Read More →The Jan. 31 deadline for claims to General Motors’ victim compensation fund spurred a flurry of 1,100 new filings, reported The Detroit Bureau. The rush brought the total number of filings to 4,180, including 455 death benefits: an increase from 338 the week prior. Claims for the most severe injuries rose to 278, up from ... Read More »
Read More →The number of approved death compensation claims related to a recall of a faulty General Motors ignition switch has risen to 50, reported MLive. The claims were approved by a fund set up by GM to compensate victims of a defective part in mid-to-late-2000s model cars that has led to a massive recall and a ... Read More »
Read More →A U.S. judge on Thursday refused to let plaintiffs’ lawyers suing General Motors Co access notes from lawyers the company hired to prepare an internal report on the automaker’s decade-long mishandling of a deadly ignition-switch flaw, reported Reuters. U.S. District Judge Jesse Furman in Manhattan said interview notes from the “Valukas report” – named for ... Read More »
Read More →General Motors’ ignition compensation fund said Monday it has approved 49 death claims, four more than the previous week, along with five new injury claims, reported The Detroit News. In total, GM compensation adviser Kenneth Feinberg has approved claims for 49 fatalities and 72 injury claims linked to defective ignition switches through Jan. 16, his ... Read More »
Read More →General Motors Co is open to working with Google Inc on developing self-driving car technology, the chief technology officer for the U.S. automaker said on Monday, reported Reuters. “I’m not in charge of deciding what we will and won’t do, but I’d say we’d certainly be open to having a discussion with them,” Jon Lauckner ... Read More »
Read More →DETROIT — Mary Barra says her first year as CEO of General Motors contained both disappointment and progress, as the company recalled a record number of cars and trucks but also improved its handling of safety problems, reported MLive. Barra became the first woman to lead a major automaker last January. Almost immediately GM faced ... Read More »
Read More →General Motors Co began the new year by announcing three new vehicle recalls on Thursday, as the ignition switch crisis continued to dog the automaker after millions of vehicles were recalled in 2014, reported Reuters. No crashes or injuries were reported in the latest round of recalls involving 83,572 sport-utility vehicles and pickup trucks. GM ... Read More »
Read More →DETROIT – General Motors Co. says it has completed the planned $3.9 billion purchase of 156.1 million shares of preferred stock, reported MLive. The Detroit-based automaker sold cheaper debt to pay for the purchase. GM spokesman Tom Henderson said Wednesday that the deal improves the company’s cost structure.GM has now redeemed all Series A preferred ... Read More »
Read More →WASHINGTON, D.C. — According to a report from the U.S. Treasury Department released Monday, the government lost a total of $9.26 billion on its bailout of the auto industry during the Great Recession. The program closed after the Treasury sold its final shares of Ally Financial on Dec. 19, The Detroit News reports. The Treasury ... Read More »
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