A few weeks ago, news of merger talks between General Motors and Chrysler begun to make its way around industry publications. There have been bits and pieces of the discussions since then but today brings some updates. In an early morning story by Automotive News, the publication is reporting that “General Motors is postponing nearly all of its spending on product development in 2009 and 2010 — a cost-cutting move that could delay the introduction of key vehicles such as the Chevrolet Cruze.”

When merger talks were first mentioned, I was curious about the fate of the Chevy Volt. The vehicle is expected to be available as a model year 2011 vehicle alongside the Chevy Cruze. The Automotive News article goes on to say that the Chevy Volt as well as the new Chevy Camaro are not going to be included in these cutbacks – whew!

Fast forward to this afternoon and Reuters has released updated information on the GM/Chrysler deal; evidently, there were several key points that were holding up the GM buyout of Chrysler from Cerberus but those both parties have reached agreements on these few issues.

“General Motors Corp and Cerberus Capital Management have resolved the major issues in a proposed GM-Chrysler merger, but the final form of any deal would depend on the financing and government support available, sources familiar with the talks said on Wednesday.” (Source: Reuters)

Stay tuned to The Green Motorist for more information on the GM and Chrysler buyout/merger plan.

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Filed Under: Chrysler, gm

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