Saturday, January 9th, 2010
Everyone knows that Saab is being offered by General Motors to another company and while transactions are ongoing, it looks like Saab is set to wind down. GM has selected Alix Partner to supervise the wind down of Saab and is currently requesting approval from the proper authorities in Sweden.
This may take months to consummate but will ensure employees, dealers and suppliers adequate protection. Warranties will continue to be honored and spare parts available. Give GM credit for the professional approach as they await a feasible proposal for Saab to continue its reign.
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Posted in Business, GM, Saab | Comments
Friday, May 8th, 2009
Rumors of an impending GM bankruptcy has put the car world in a state of frenzy, circulating fears that purchased cars from GM may no longer provide warranties should such an unfortunate event happen. But thanks to the assurance of the US government, motorists who have or are planning to get a GM car need not worry. General Motors Corp. says the U.S. government is guaranteeing the warranties of its cars and trucks sold in Mexico.
The government announced it would guarantee warranties of vehicles sold in the U.S. starting March 30. The move was designed to stimulate sales by easing fears GM might go into bankruptcy and wouldn’t be able to back its warranties.
GM says it will pay part of the warranty guarantee costs and will borrow the rest from the U.S. government. The guarantees cover GM vehicles sold in the U.S. and Mexico during the company’s restructuring period.
(Source) KESQ
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Posted in Business, GM, Industry | Comments