General Motors, Gm | featured news

General Motors says it made $2 billion in the third quarter, a strong showing that helps the company's pitch to investors who may buy stock in an initial public offering.

General Motors on Wednesday finalized terms for a stock offering of about $13 billion to repay a controversial taxpayer-funded bailout and reduce the Treasury to a minority shareholder.

General Motors will shrink the government’s ownership stake to less than 50 percent in a $10.6 billion initial public offering, people briefed on the matter said.

The most problem-free cars and trucks are made by Honda and Toyota, but Ford is closing in fast and General Motors is making big quality improvements, according to Consumer Reports magazine's 2010 reliability rankings.

General Motors is recalling more than 300,000 Chevrolet Impala sedans because the seat belts may fail to restrain people in the front seats during a crash.

The upcoming initial public offering of General Motors Co will be open to the widest possible range of investors, including both overseas funds and U.S. retail buyers, the U.S. Treasury said on Friday.

How long it takes for the government to divest its holdings in General Motors will, in part, be determined by the company’s success, G.M.’s chief executive said.

The annual package includes $1.7 million in salary and a mix of stock, some part of a long-term incentive plan.

But Chrysler Group said its August sales rose 7 percent thanks to the Jeep Grand Cherokee.

General Motors Co is unlikely to file for its initial public offering on Tuesday, three people familiar with the situation said.