Category Archives: financial results

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

he 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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General Motors Posts Record 2016 Results

General Motors (NYSE: GM) today announced record full-year 2016 results from strong retail demand for full-size trucks and SUVs in the United States, continued industry growth in China and what it termed as “effective cost performance across the globe.” I Continue reading

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Ford Motor Says 2017 Profit Will be Lower Than 2016

The bad news is that the ongoing increase of incentives, longer loan terms, growing sub-prime lending – including on trucks – and the fact Ford can’t give away a car in the U.S. is potentially troubling. Helped by incentives of more than $8,000 at year end, the Ford F-Series pickup retained its title as the best-selling vehicle in the land at 820,799. Predicting lower performance for 2017 is a warning that won’t help Ford’s weak share price. Continue reading

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2017: General Motors Bullish – More Stock Buybacks

GM’s 2017 outlook is based on – what else – an expected strong performance in North America and China, growth of GM Financial, continued cost efficiencies, improvement in South America and an ongoing vehicle launch cadence. Continue reading

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Ghosn Defends Mitsubishi Bailout in Face of Criticism

Call it a “one barrel of a two-barrel shotgun wedding.” This is a giant roll of the dice with Carlos Ghosn betting on numerous “come” lines. Continue reading

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General Motors President Daniel Ammann Sells 10,000 Shares

While GM execs have been trying to talk up the stock price, the trading record is much less optimistic. The range of share prices peaked at more than $40 per share in December of 2013, but has been languishing in the $35 range recently. Continue reading

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