General Motors to the now defunct Saturn line: It's over.

General Motors has sold its Hummer brand of SUVs to Chinese company Sichuan Tengzhong Heavy Industrial Machinery for an estimated sum of $100 million.

General Motors, the largest auto company in the U.S., has filed for bankruptcy and will receive $50 billion in federal aid. President Obama said taxpayers will be "reluctant shareholders" in GM, later adding that the company's demise would have been "devastating" to the American economy.

General Motors has announced it will discontinue its Pontiac brand of cars so it can focus on its "more important" brands: Chevrolet, Buick, Cadillac and GMC trucks.

President Obama has rejected the restructuring plans submitted by GM and Chrysler. Both companies may enter bankruptcy forcing the federal government to back future warranties.

Auditors for General Motors say the world's second largest car company may have to declare for bankruptcy despite having received
$13.4 billion in federal loans.

General Motors, Ford and Daimler Chrysler, the auto industry's "big three," asked Congress for a $25 billion "lifeline" to save them from collapsing.

The chief of staff for President-elect Barack Obama wants to provide financial aid to America's ailing auto industry. General Motors, once one of America's strongest companies, could be bankrupt within the year.

Auto giant General Motors is asking the U.S. government to bail it out to facilitate a merger with Chrysler.