It seems that General Motors Corp. has recovered from its 50 years of lows in the U.S. stock market,  accounted earlier this month, as the automaker reported the global sales figures this week. Shares of General Motors on Wednesday had traded about $16 per share for the first time in more than a month.

Wednesday morning GM shares hit as high as $16.43 a share, up almost $1.75, before closing at $14.58 a share, up 1.82 percent in mid- afternoon. On July 15, the automaker’s stock hit as low as $8.81 a share. (more…)

The shift in the U.S. auto market has finally compelled General Motors Corp., the largest local car maker to take new actions to fight through the current economic challenges. The automaker is trying to deal with the shift in the U.S. market and will improve through 2009 by its new restructuring plan, GM said on Tuesday morning in a press conference.

The restructuring plan as announced by the officials, includes laying off some white-collar workers, reducing health care coverage for white-collar retirees, making more cuts in truck production, suspending dividends, eliminating executive bonuses. These changes are expected to raise GM cash by about $15 billion, by the end of 2009, the company said. (more…)

DETROIT -  Several reports are prompting out that General Motors is considering the sale of more than just one of their eight brands. But a GM spokesperson today denied all allegations explaining that apart from Hummer, no other brands are under any review.
 
"No other GM brand (besides Hummer) is under strategic review,” GM spokesman Tony Cervone said in an e-mail to Automotive News today.

Out of eight GM brands, most of them including Saturn, Buick and Saab are struggling to attract the buyers. So the company has already made up their mind to review their Hummer division for sale and the prospective buyers may include Mahindra & Mahindra.

David Healy, an auto analyst with Burnham Securities, said that “GM has enough money to make it through this year but may need more cash in 2009. The automaker, he said, has ways to raise money other than selling brands.” (more…)

After organizing its eight brands into four channels, General Motors has made some changes  in job responsibilities and titles of several of its channel leaders, eliminating a layer of management at the regional level.

The moves are part of an effort to manage the eight brands in a better way and to eliminate a layer of bureaucracy. In this regard, GM is moving some of its regional general managers to its headquarters in Detroit. (more…)

Keeping in mind the high oil price issue, Detroit-based automaker, General Motors will launch a new Television commercial later this month.

GM corporate marketing director, Katherine Benoit at the American Advertising Federation meeting said that the automaker is launching a corporate campaign this month that addresses the oil-price issue head-on. (more…)