Archive for the ‘Industry’ Category

The saga of GM's sale of HUMMER has finally come to a close. With the sudden collapse of the Penske-Saturn deal last week, many feared a similar fate would befall HUMMER, but today's announcement of the sale agreement between GM and China's Tengzhong puts those fears to rest, at least for the present. The deal must still secure final financing and pass regulatory approval.

Tengzhong, known formally as Sichuan Tengzhong Heavy Industrial Machinery Corp., is the Chinese firm that's been the front runner for the purchase of HUMMER for months now. GM's announcement this morning means that 3,000 U.S. jobs will be saved thanks to manufacturing...

Chrysler is scheduled to unveil a new five-year business plan November 4 at its Auburn Hills headquarters, most likely outlining how the company will operate under the guidance of new CEO Sergio Marchionne and as a part of the Fiat Group corporate umbrella.

The next couple of years are crucial for Chrysler as they will determine whether or not the company can remain viable. Part of the plan will also likely include details of new model launches, of which Chrysler is planning a handful.

Major introductions include the next-generation Chrysler 300 sedan and 2011 Jeep Grand Cherokee SUV as well as five other facelifted models to be released...

General Motors has named Susan Docherty its new vice president of U.S. sales, replacing Mark LaNeve immediately. LaNeve elected to leave GM from the 15th of this month to pursue another opportunity with a non-automotive company, with Docherty set to fill his shoes the day after.

Docherty will be leaving her post as head of the Buick- GMC line, a position she has held since June last year. Before this assignment she had been general manager for the company’s Western Region, taking the position in September 2006.

Other positions included marketing director and brand manager for the Cadillac Escalade, sales and service executive...