Big Three, Gm | featured news

General Motors Co. said Monday it will recall 1.3 million Chevrolet and Pontiac compact cars sold in the U.S., Canada and Mexico to fix power steering motors that can fail.

GM is looking at two offers for its Hummer brand after a deal to sell the line of sport utility vehicles to a Chinese manufacturer collapsed this week.

The automaker says it's unable to complete a deal to sell its SUV brand to a Chinese industrial company. It plans to wind down Hummer operations, which would affect about 3,000 workers.

General Motors chairman and chief executive, Ed Whitacre, Jr. will receive a compensation package worth $9 million, the automaker said Friday.

US auto sales rose in January but were tempered by Toyota Motor Corp. (TM), which suffered a sales slide late in the month from a recall that led the auto maker to halt sales of more than half its vehicles.

GM's Swedish brand remains hopeful a sale can be agreed to keep it alive, even though it is still preparing to wind down operations.

GM said Monday it had hired Chris Liddell, the chief financial officer of Microsoft, as its new finance chief, filling a key position with the automaker's highest-profile hire since its July bankruptcy.

With a narrow, though loyal, customer base, Saab has proved too small to lure the world’s big automakers.

Automaker will repay $6.7B in taxpayer-funded loans by end of June, new chief executive says.

Edward E. Whitacre Jr., G.M.’s new chief executive, assigned numerous executives to new roles as he looked to strengthen the carmaker’s revival effort.