GM is making strides towards becoming the “New GM.”

GM’s president and CEO Fritz Henderson posted information about GM’s sale on its blog, GM FastLane.  According to Henderson, GM received court approval for a sale of a large portion of GM’s assets to the U.S. Department of Treasury.  The sale is expected to close soon after the appeal process.

With the “New GM” emerging, many changes and decisions have been made.

“We have, in effect, been fixing our bike while we ride it.  Now the repair work is almost done, and we’re steering the company back onto a path to viability and success,” Henderson commented in the blog.

The “New GM” is set to include four core brands: Chevrolet, Buick, GMC and Cadillac.  These brands will continue to produce new cars for dealerships, both TW dealerships among them.

For more information on GM’s progress, check out: http://fastlane.gmblogs.com