Details are just now coming that General Motors CEO Fritz Henderson will step down from his post, and Ed Whitacre will act as interim President and CEO. Whitacre held a live press conference Tuesday afternoon and read a prepared statement with the news. According to officials at the Treasury Department …

Reducing the number of total brands offered was one of the key components in General Motors’ restructuring plan announced earlier this year. Pontiac was to be shut down, and Saturn, Saab, and HUMMER were to be sold or shut down. GM announced today that Saab would be shut down, leaving …

Bob Lutz stepped in to deliver GM’s keynote speech Wednesday from the LA Auto Show after the automaker ousted its CEO Fritz Henderson on Tuesday. After a lengthy intro, Lutz announced that he would not be taking any questions about the “real story” behind Henderson’s departure, and joked that everyone …

HUMMER’s self imposed goal of wrapping up the brand’s sale to Chinese company Tengzhong this week is unlikely to be fulfilled. In November, HUMMER CEO Jim Taylor said that approval process was expected to take four to six weeks, and the week of December 1st would mark week six. According …

General Motors CEO Fritz Henderson says that he’s “satisfied” with the definitive agreement they made with Sichuan Tengzhong to unload the HUMMER brand. China Daily asked Henderson what if he was pleased with the terms of the deal which had been rumored to be around $150 Million. This was his …

We now have official word that General Motors and China’s Tengzhong have signed definitive agreements to transfer ownership of the HUMMER brand (complete release below). “The investment from Tengzhong in Hummer will give the company the capital it needs to create new products and focus on the brand in a …

GM announced Tuesday that its top U.S. sales executive, Mark LaNeve would be stepping down in the coming weeks. About eight hours later came news that replacing LaNeve would be Susan Docherty, who was HUMMER’s General Manager during the launch of the H3. LaNeve has accepted a position outside the …

In a press conference Friday, GM CEO Fritz Henderson responded to questions about the sale of HUMMER to Sichuan Tengzhong. “The purchaser for Hummer is going through the approval processes in China,” Henderson said. “We’re cooperating with them. The purchaser is professional, well-advised and has done a huge amount of …

General Motors emerged from bankruptcy Friday morning, namely by separating itself into two companies. The ‘new GM’ is currently being called Vehicle Acquisition Company, but will later turn into General Motors Company and include four core brands: Cadillac, Buick, Chevy, and GMC. In addition to the core brands, the new …

After GM declared bankruptcy this morning, many are wondering what this will mean for HUMMER’s future as well as its current operations. The short answer: Not much. In his remarks Monday afternoon, CEO Fritz Henderson emphasized that GM is still open for business, and that all warranty, service, and customer …

General Motors officially filed for bankruptcy Monday morning giving the U.S. Government between a 60 and 70 percent share of the troubled automaker. President Obama will address the nation on the issue around 11:55 a.m. eastern time, immediately followed by GM’s press conference with President and CEO Fritz Henderson. New …