20:45:24 EDT Fri 19 Apr 2024
Enter Symbol
or Name
USA
CA



General Motors Company
Symbol GMM
Shares Issued 1,610,000,584
Close 2015-01-28 U$ 33.31
Market Cap U$ 53,629,119,453
Recent Sedar Documents

FP says GM's future in Canada is as uncertain as ever

2015-01-29 07:08 ET - In the News

The Financial Post reports in its Thursday edition that six years after the federal and Ontario governments contributed $10.85-billion to the bailout of General Motors, the company's future in Canada is as uncertain as ever. The Post's Kristine Owram writes that GM Canada president Stephen Carlisle says no major investment decisions will be made at the Oshawa, Ont., plant until "well into 2016." Ms. Owram notes that by then the production commitments made by GM in 2009 will be close to expiring. She says GM will then have more flexibility to close plants or lay off workers if it decides that is the best course of action. GM is already planning to shift production of the Chevrolet Camaro from Oshawa to Lansing, Mich., later this year -- a move that will cost approximately 1,000 jobs. The consolidated line in Oshawa, which produces the Impala sedan and the Equinox crossover, is scheduled to close in 2016, following on the heels of the Oshawa truck plant that closed in 2009. So far, no product announcements have been made to replace those losses. Mr. Carlisle says, "We are doubling down on efforts to find efficiencies and we will be working with all our partners to address issues and build on our strengths."

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