GM Buying and Selling?

[dgl24087]

Picked up the Nov. 2007 issue of Diesel World magazine today. It reports the following GM news:

GM is planning to purchase a 50% stake in Italian diesel engine manufacturer VM Motori S.P.A., currently owned by Penske Corp. This move is expected to aid GM in increasing diesel engine capacity worldwide, as well as assisting in the development of smaller diesel engines. The deal is currently waiting approval from the European regulators regarding Penske purchasing Daimler AG's 49% share of the company.

GM is also supposed to be examining it's options regarding medium duty trucks. Navistar is reported to be the likely buyer.

GM has sold the Allison Transmission unit to private investment firms Carlyle Group and Onex Corporation for $5.6 billion. GM will retain 1 of 7 plants, the one located in Baltinore, MD, that produces conventional and hybrid transmissions for GM's light duty truck and SUV lines.

 

[Builder]

Yup, saw that a few months ago. Too bad that we will be losing another player in the medium duty market.

Sad to see what GM & Ford have been reduced to in terms of trucks. Just 10-15 years ago, they were players in the HD market, too.

 

[dgl24087]

I just read an update in Diesel World magazine regarding the sale of the GM medium duty truck line to Navistar. Seems GM is backing out and Isuzu is rumored to be the new buyer.