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12GM to divest 7% stake in PSA Peugeot Citro├źn, sells equity in Ally Financial

In terms of being a major newsmaker, the last seven days have probably been the biggest for General Motors since its 2009 bankruptcy. Aside from announcing that Mary Barra will be succeeding Dan Akerson as its CEO next year, the automaker also appears to be streamlining its global operations by pulling Chevrolet from Europe in 2016 and winding down its Holden manufacturing operations in Australia by the end of 2017. Now, as was originally speculated about in October, GM has confirmed that it is

18GM, PSA scrap large car program, move forward with small engine development

The partnership between General Motors and PSA Peugeot-Citroën isn't expected to produce any results until 2016, but it has created plenty of news (and speculation) since it was formed back in February. Now, GM is laying out some of the specifics of the deal while Automotive News Europe is reporting plans have been scrapped to produce a shared platform for a midsize sedan.

12GM, Peugeot alliance won't include electric-drive secrets

We're close, but we're not that close.

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