General Motors, Big Three | featured news

General Motors said that 90% of GM dealers are reporting profits, up from 40% at the end of 2009.

General Motors Co has withdrawn its application for $14 billion in subsidized loans from the U.S. Department of Energy, saying it has the financial strength to fund investment in more fuel-efficient and electric vehicles.

General Motors Co posted a 7.5 percent rise in December U.S. auto sales and said it expects the industry to report sales at a 13 million-vehicle annualized rate for last month -- far higher than many forecasts and what would be the highest rate of 2010.

Investor demand for General Motors stock has been so strong that the company will expand its initial public offering by 31 percent, to 478 million common shares, a person briefed on the sale said Tuesday.

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 and Chrysler are beginning to make some headway after getting a financial and operational overhaul compliments of the U.S. bankruptcy court.

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.