Posted tagged ‘Saab’

GM To Cut More Than 1100 US Dealers

May 15, 2009

General Motors notified 1,100 of its 6,000 dealerships today that it is terminating their contracts with the struggling automaker.

From CNN:

GM spokeswoman Susan Garontakos said that the dealers receiving notice Friday are being told that their contracts will not be renewed in October 2010. Many of them are expected to close shop this year.

The company has told the Obama administration that it plans to cut its network down to 3,600 dealers by next year.

Much of the rest of the cuts will come from GM’s plans to sell or close four brands – Saturn, Hummer, Saab and Pontiac.

Those four brands have about 600 dealerships that do not include other GM brands. But most Pontiac and Hummer dealers will stay in the GM family because they have one of the four remaining GM brands as part of their operation.

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Ford Motor Company Considers Selling Volvo

December 1, 2008

Ford Motor Company is considering selling Volvo Car Corp. as the struggling U.S. automaker seeks to raise cash and weather a global automotive sales crisis.

From the Associated Press:

Ford said Monday it expects its strategic review of the Swedish luxury automaker will take several months. The move is one of several actions Ford is taking to strengthen its balance sheet amid what it called “severe economic instability worldwide.”

“Given the unprecedented external challenges facing Ford and the entire industry, it is prudent for Ford to evaluate options for Volvo as we implement our One Ford plan,” said company president and CEO Alan Mulally in written statement, referring to a plan the standardize the company globally.

Ford officials would not speculate on how a potential sale would affect the companies. Spinning off Volvo into a separate may be a possibility, as both companies have already taken steps to allow Volvo to operate on a more standalone basis. That effort began in 2007, after a previous strategic review of Volvo.