Perhaps trying to rival fellow troubled automaker Chrysler in terms of speed of exit from Ch.11, General Motors on Friday completed restructuring and exited bankruptcy protection.

When General Motors filed for Chapter 11 bankruptcy protection on June 1, 2009, it became popular to refer to the new GM as Government Motors. Indeed, the US government is going to own 60% of the new GM. And although President Obama said the government would refrain from playing a management role in all but the most critical areas, the government in fact has already decided what cars GM is going to build.

General Motors (GM) and Penske Automotive Group, a major auto dealer owned by former race car driver Roger Penske, have agreed to a deal involving GM's Saturn line, the two announced Friday. Financial details were not disclosed.

GM dealerships around the nation are awaiting the least of closing of the 1200 car dealerships across the country. GM dealer closing is not surprise, the company had in April announced the goal to reduce the size of it's dealerships.

While Fiat is already in the process of acquiring U.S. automaker Chrysler LLC, it acknowledged on Sunday that it is also looking to expand its reach to include GM's European operations.

Why is this good news? Because Ford's loss is less than expected.

As if the all problems that the U.S. auto industry had were not enough now there is 1.5 million GM recalls of cars due to fire risk. General Motors' 1.5 million units of recall due to a engine risk is a serious matter and cannot go unnoticed.

The White House first pushed out GM's Chairman and CEO Rick Wagoner, than said neither GM nor Chrysler have submitted acceptable plans to receive more bailout money, setting up what could be the end of the line for the two auto giants.

The chairman and chief executive of General Motors, Rick Wagoner, resigned Sunday as part of an agreement with the Obama administration to save the ailing auto giant, according to sources familiar with the situation.

Shanghai, March 25 (Gasgoo.com) The Opel brand under General Motors China will be absent from the upcoming 2009 Shanghai auto show on April 22-28, cheshi.com said today.

General Motors, which has already borrowed $13.4 billion from the federal government and is seeking billions more, announced on Thursday that its independent auditors have noted that the company's survival is in “substantial doubt.”