The biggest U.S. automaker says it will eliminate another 1,500 jobs because of sagging demand for new cars. Other top U.S. automakers Ford and Chrysler also announce layoffs.

GM announces a price adjustment on most of its 2008 model year vehicles to partially recover increasing steel and commodity costs. The price increases, averaging about 1.5 percent, are effective with vehicles invoiced to dealers on and after December 19, 2007.

Transmission engineers at General Motors Corp. have given new meaning to the term "overdrive." By using high-tech computerized tools, they launched nine new fuel-saving six-speed transmission models - the industry's largest lineup - in just four short years. Furthermore, their use of this technology has shaved as much as six months and $15 million from the typical transmission development process.

General Motors is helping to fuel Dream Cruise fever with the production of a four-part video series profiling the Vinsetta Garage, which is located on Woodward Avenue in Berkley, Mich., and which has been a fixture on the Detroit automotive scene since 1919. Shot documentary-style, the video series introduces viewers to Vinsettta Garage owner, Jack Marwil, his staff and the inner workings of this Detroit-area landmark.

The Detroit automaker has lost a rather big American car market share and its sales decreased in June, statistics showed Tuesday. This will lead to low prices and available leasing deals during this summer.

General Motors Corporation announced on Thursday that it will sell its Allison Transmission commercial and military business for about $5.6 billion to the private equity firm The Carlyle Group and Canada's Onex Corp.