GM: H1 sales hit historical high in China

  BEIJING, July 1 (Xinhua) -- The U.S. automaker General Motors Corp. said here Wednesday that its auto sales in China in the first half of 2009 rose 38 percent from the same period last year to a record high of 841,442 units, spurred by the government stimulus package.

  "Thanks to government stimulus measures on the auto industry and the rising demand in subordinate cities and rural areas, China's auto market had seen a strong growth and GM's products had been very popular," said Kevin Wale, president and managing director of GM China Group. 

GM to sell Saab to Koenigsegg

National flags of the United States flutter in front of the logo of Saab at a car dealership in New York, the United States, April 7, 2009. Saab Automobile, the troubled Swedish unit of Genral Motors Corp, has been contacted by 20 potential buyers, with a sale planned in June, the carmaker's lawyer said on Monday. The lawyer also said a sale of the company is a "crucial prerequisite for a successful reconstruction." (Xinhua/Liu Xin)
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CHICAGO, June 16 (Xinhua) -- U.S. automaker General Motors Corp.(GM) agreed Tuesday to sell Saab automobile, its struggling Swedish unit known for its family cars, to a consortium led by Swedish Koenigsegg Automotive AB, a tiny luxury carmaker, reports reaching here said.

GM, which filed Chapter 11 bankruptcy on June 1, said in a memorandum of understanding that the sale would include an expected 600-million-U.S.-dollar funding commitment from the European Investment Bank, guaranteed by the Swedish government. 

Ford calls for government transparency in dealing with GM, Chysler

  CHICAGO, June 15 （Xinhua）-- U.S. Ford Motor Co. Executive Chairman Bill Ford said Monday that government intervention has taken the automobile industry into uncharted territory and called for "transparency" from the government, the Detroit News reported.

  "There are issues that we just don't have answers to yet in terms of government ownership in our industry and what that's going to mean," he told reporters in Detroit.