Category Archives: financial results

General Motors Closes Deal on Selling Opel/Vauxhall

This ends almost 100 years of GM in Europe, leaving only the slow expansion of the Cadillac brand, and the sale – it’s more like a hobby than a business – of niche vehicles, the Chevrolet Camaro and Corvette, both imports, as GM’s only presence in the world’s third largest vehicle market. GM’s Lyft and Maven will eventually appear in Europe, AutoInformed opines. Continue reading

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Autonomous Vehicles to Cut Auto Insurance Biz 71% By 2050

Autonomous vehicle and related driver assist technologies could upset the auto insurance market by 71%, roughly $137 billion by 2050, according to the latest research by KMPG. Continue reading

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GM Shareholders Reject Greenlight Overwhelmingly

Shareholders of General Motors Co. (NYSE: GM) have elected all 11 of GM’s Board nominees with preliminary results also showing that shareholders have rejected Greenlight’s proposal to create a dual-class common stock structure. Continue reading

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GM Rebuffs Pending Greenlight Director Nominations

“Greenlight’s candidates were nominated specifically to advance Greenlight’s dual-class stock plan, which GM’s Board views as high-risk and detrimental to the long-term best interests of GM and its shareholders. Continue reading

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GM Reports 2017 Q1 Net Income of $2.6 Billion – up +33.5%

During the first quarter, GM delivered globally 2,343,773 vehicles, -34,261 or -1.4%. In the U.S., it delivered 689,521 total vehicles, with a 16% increase in crossover deliveries and a 3% increase in truck deliveries. However, truck and SUVs are not resulting in incremental sales but rather hurting the sales of cars. Continue reading

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New Car Dealership Employment Sets Record in 2016

“Total dealership employment has consistently risen every year since the Great Recession,” said NADA Chief Economist Steven Szakaly. “In addition, hundreds of thousands of other local jobs are dependent on dealerships.” Continue reading

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Greenlight or Red Light – GM Proxy Fight Coming?

In the filing, Greenlight – a $10 billion investment firm – said in essence that GM lied when it asserted that a credit downgrade was possible if the stock were split into two classes. Greenlight also said it repeats its request that GM has denied on numerous occasions to consent for Greenlight to speak directly to the rating agencies about the Plan so that it can be accurately evaluated by a formal rating committee. Continue reading

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Daimler Group Q1 EBIT Significantly Better Than Expectations

Daimler Group AG (ticker: DAI) has achieved a Group EBIT* for Q1 of 2017 that is significantly above market expectations. Group EBIT of €4,008 million surpassed Q1 2016 at €2,148 million. All figures are preliminary and unaudited. Continue reading

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Trump on Track for Largest Deficits in U.S. History.

At 77 % of gross domestic product (GDP), federal debt held by the public is now at its highest level since the end of World War II. The Congressional Budget Office in an extremely detailed report concludes that despite considerable uncertainty of long-term projections, debt as a percentage of GDP would probably be greater – likely, much greater – than it is today if current laws remained generally unchanged. Continue reading

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GM Dismisses Greenlight Stock Split and Directors Plan

General Motors (NYSE: GM) said that its Board of Directors and management have “thoroughly analyzed and rejected” a non-binding stock split proposal that Greenlight Capital intends to submit for a vote at GM’s 2017 annual meeting of shareholders. The proposal … Continue reading

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SEAT Sets Profit Record of €143m in 2016

Worldwide sales were nearly 410,000 vehicles. SEAT is a member of the Volkswagen Group, the multinational has its headquarters in Martorell (Barcelona), exporting 81% of its vehicles in over 80 countries through a network of 1,700 dealerships. Continue reading

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Daimler at China Development Forum – Pure Money, Politics

In China, through its government-dictated cooperation with local partners, China continued to be the largest individual sales market globally for Mercedes-Benz Cars in 2016. Continue reading

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General Motors Sells Opel/Vauxhall to PSA Group for €2.2B

The deal includes all of Opel/Vauxhall’s automotive operations, comprising Opel and Vauxhall brands, six assembly and five component manufacturing facilities, one engineering center (Rüsselsheim, Deutschland) and approximately 40,000 employees. GM will retain the engineering center in Torino, Italy. Continue reading

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GM to Announce Sale of Opel/Vauxhall this Monday with Investors’ Call and a Press Conference

If the deal goes through, it would mean GM’s presence in Europe would be limited to niche sales of Cadillac, and Chevrolet Camaro and Corvette models – all of them exports. PSA is the third largest automaker in Europe behind Renault. Volkswagen Group leads in Europe PSA Group’s sales were 1,930,000 vehicles and increased by 3.6% in 2016. In 2016, global sales increased by 5.8%, to 3,146,000 units. Continue reading

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Win, Win? GM to Sell Opel to PSA

The combined volume of the groups could exceed current second-placed Renault-Nissan but would still be well short of market leader VW group. Continue reading

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