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GM puts on hold its Egypt operations

GM puts on hold its Egypt operations

General Motors has temporarily suspended its operations in Egypt due a currency crisis, a company source told Reuters. Import-dependent Egypt has been in economic crisis since the 2011 uprising and subsequent political turmoil drove foreign investors and tourists away. Dollar reserves have more than halved to 16.4 billion dollars since […]

GM posts record profit in 2015

GM posts record profit in 2015

General Motors reported record profits for last year, both for the fourth quarter and for the whole year, pushed by the strong US sales, as well as by China. General Motors announced a record 2015 net income of 9.7 billion dollars, or 5.91 dollars per share, up from 2.8 billion […]

GM sold used cars subject to recalls

GM sold used cars subject to recalls

General Motors and two car dealers settled US claims that they advertised numerous used vehicles without disclosing that certain cars offered for sale were subject to previously announced open recalls for safety issues. General Motors, Jim Koons Management and Lithia Motors Inc. have agreed to settle separate Federal Trade Commission […]

Lawyers leading the GM ignition cases asked to step aside

Lawyers leading the GM ignition cases asked to step aside

A motion for removal was filed against the leadership lawyers of litigation cases against General Motors over its faulty ignition switch, because of their failure in the first federal trial. Lance Cooper, who represents other plaintiffs ever GM’s defective ignition switches, asked a US judge to remove three lawyers from […]

First lawsuit over GM’s ignition switch dismissed

First lawsuit over GM’s ignition switch dismissed

Both sides involved in the first trial over General Motors’ massive ignition switch scandal said the case has been dismissed, after the company accused the plaintiff of false statements. The first federal trial over GM’s faulty ignition switches came to an early end after the plaintiff voluntarily dismissed his case, […]

[Video] GM launches the Maven car-sharing brand

[Video] GM launches the Maven car-sharing brand

By starting its own brand, General Motors is aiming to become an important player in car ride-sharing services and also to compete with Uber. General Motors has aimed its focus on the car-sharing business lately. After the 500-million-dollar investment in Lyft – an Uber rival -and the assets acquisition of […]

General Motors buys another ride-sharing company

General Motors buys another ride-sharing company

Following a 500-million-dollar investment in Lyft, General Motors has bought the assets of the recently defunct Sidecar Technologies ride-sharing company. Ride-sharing companies are seen as a threat in the eyes of the automakers, especially with Uber being so successful and profitable. Unable to compete in the business, Sidecar has been […]