general motors europe
Italian Government Targets Tax Evading Luxury Car Owners
As the indebted Eurozone nation Italy struggles to stay afloat, the country finds many of its wealthier citizens evading taxes and refusing to do their part. As a result, Italy’s Polizia launched a major operation across Milan in late January, setting roadblocks to halt high-end luxury vehicle drivers. When drivers hand over license and registration,…
Cadillac CTS Coupe Voted AWD Car of the Year In Germany
Out of field of some impressive hardware, including the Alfa Romeo Brera Q4; Bentley Continental GT; Lamborghini Gallardo and Nissan GT-R; the readers selected the Cadillac CTS AWD coupe as the overall winner.
GM Withdraws European Loan Applications, Opts to Fund Opel/Vauxhall Programs Itself
However with the German government seeking to enter new negotiations, GM has pulled the plug on external fundling.
Report: General Motors Considering Keeping European Opel Unit
After announcing earlier this week that it has not reached a deal to sell Opel, General Motors is now apparently exploring options to keep the European unit. This news comes as a surprise considering selling off Opel is a part of the company’s viability plan as submitted to the U.S. government in order to receive…
Report: GM Signs Over Saab to Koenigsegg
General Motors has signed an agreement to sell off its Swedish Saab unit to the Koenigsegg Group. Led by supercar maker Koenigsegg, the group includes several additional investors. The deal will see the Koenigsegg Group take a 100 percent stake in Saab. In a statement Koenigsegg Group CEO Christian von Koenigsegg said that the group…
Magna Bid to Buy Opel May Fall Through as GM Poised to Sign Agreement With Rival Bidder
After continued rumors that General Motors was still shopping-around its European Opel operations, it appears as though a new buyer has been found. RHJ International, a Belgian company has been cited as the latest bidder and apparently a tentative deal could be signed by the end of the week. Initially Opel was slated to be…
GM Announces Official Yet Tentative Deal to Sell Saab to Koenigsegg
General Motors has officially announced it has reached a tentative deal to sell its Swedish Saab brand to a group of companies lead by Swedish supercar-maker Koenigsegg. The deal will see the Koenigsegg group receive $600 million in funding from the European Investment Bank, which has been guaranteed by the Swedish government. GM will provide…
