The US car manufacturer has been set a 1 June deadline to restructure its business by President Obama's administration, as it seeks multi-billion dollar public loans to avoid bankruptcy protection.
In the US, GM will move to a four-brand strategy focusing on Chevrolet, Cadillac, Buick and GMC. The manufacturer has set itself an end-of-year deadline to either sell or close the Hummer, Saturn and Saab marques. GM claims the changes will allow it to provide ‘a more competitive level of marketing support per brand'.
In Europe, GM is searching for an investor to help support its Opel and Vauxhall marques. Reports suggest the company is in discussions with Italian manufacturer Fiat, which itself is set to form an alliance with US firm Chrysler.