Thursday, July 16th, 2009...12:07 am

So where do the GM pieces fall?

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GM exited bankruptcy on July 10th, 2009 one of the quickest bankruptcy proceedings for a company of that size.  Now that GM is back, what pieces remain and where did the other pieces go.  Here’s a run down:

GM still owns these core brands; Chevy, Buick, Cadillac, and GMC.  The U.S. Governement will own 60.8% of the new company while the United Auto Workers will get 17.5%.  The Canadian governement gets 11.7% and the remaining 10% goes to the bond holders.

Hummer was sold to the privately owned Chinese company Sichuan Tengzhong Heavy Industrial Machinery Co. for between $150Million to $250Million.

Saturn was sold to racing legend Roger Penske and his Penske Automotive Group.

SAAB was sold to a Koenigsegg, a Swedish car company known for making supercars.

Pontiac brand has been abandoned by GM however recent news this monday is that GM will save the Pontiac G8 by releasing it as a Chevy Caprice.   I believe the Caprice moniker has a bad reputation and is not befitting of such a grand car as the G8.  Come on GM this is the car industry not Hollywood, we don’t have to reuse every name!

GM retains 35% of its European brand Opel while selling 20% to Canadian Auto parts supplier Magna and 35% to Sberbank from Russia.  The remaining 10% goes to the employees.

While we are at it, Ford has sold its Jaguar and Landrover lines to TaTa Motors.  You may remember that TaTa motors is the company that plans to sell a $2,700 car soon.

Ford also stated that they may let the Mercury line slip into extinction.

As far as I am aware Chrysler is keeping all of its core brands; Chrysler, Dodge, Jeep.

The GM numbers were pulled  from Forbes.com article

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