Tag Archives: general motors

Maven Gig Expands to San Francisco

By 2020, an estimated 43 % of the U.S. workforce will be made up of freelance workers. The nature of employment is changing, as corporations continue to shed middle class jobs. Maven Gig claims it is a “nimble platform that will grow and adapt with the shift.” Continue reading

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NYAS: Regal Returns as – What Else? – a Crossover

The former Detroit Big Three can’t give away a car, but are basking in the strong sales sunshine of pickup trucks (no Buick thus far?), SUVs and crossovers. The much Diminished Big Three – held 43.8% of the U.S. March vehicle market, down from 46% last month – despite an ongoing boom in light truck and crossover sales, slipping from 44.5% last March. Continue reading

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GM files SEC Paperwork to Ease Share Sales

GM said in a statement that is not currently aware of any specific plans regarding an offering by any selling shareholders. When selling shareholders make an offering during the next three years, the terms would be established at the time of offering and described in a prospectus supplement filed with the SEC. GM will not receive any of the proceeds of sales of common stock or warrants by the selling shareholders in the shelf registration statement. Continue reading

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General Motors U.S. Sales Up 6% in March, Outpacing Market

General Motors sold 245,950 vehicles in the United States in March, up 6% compared with a year ago. Retail sales increased 4%, fleet sales were up 12%, with the fleet mix at 27% of total sales. As a result, GM retained its position as the sales leader in the U.S. ahead of Ford Motor and Toyota Motor, respectively.Sales of GM crossovers were up 31%; trucks, which include pickups, vans and SUVs, were up 2%; and car sales were down 3% as high volume large pickup sales were up 6%. Continue reading

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General Motors U.S. Sales Slow in December as Market Picks Up

General Motors posted the company’s highest December sales in five years, as well as its best retail month during all 2012, with deliveries up 5% to 245,733 vehicles year-over-year. Nevertheless, it wasn’t enough to keep up with the rate of growth in the overall market of 9% as big months from Toyota (+9%) and Honda (+26%) skewed the data a bit. Some of the Japanese gains were explained by the recovery from the tsunami and earthquake disasters and ensuing production disruptions more than a year ago, but not all. “Not all” is the question that should be much on the minds of GM executive this year, which will see an ongoing jobless recovery and a battle royal in the marketplace. Continue reading

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French Government Backs €7 Billion in PSA Peugeot Citroën Debt

The French State will provide up to €7 billion in refinancing guarantees for new bond issues during the 2013-2015 period. It is the latest example of a taxpayer bailout of an ailing auto company facing increasingly limited credit options in the private capital markets, if they now exist at all. The subsidy is subject to EU approval by the Competition Commission in Brussels, and is vehemently opposed by the German state of Lower Saxony, the second largest owner of VW, the largest automaker in Europe by far. Continue reading

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Chevrolet Picks new JV for Global Advertising Agency

Chevrolet has selected Commonwealth as its new global advertising agency responsible for the development of creative campaigns for all types of Chevrolet ads. The latest marketing move at GM follows the announcement in January that the world’s largest automaker is consolidating all of its media buying under Carat, formerly its European agency of record in what was said to be a highly contested review of the $3 billion General Motors media account. Continue reading

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Anti Nuke Group Wants GM Peugeot to End Iran Business

If GM CEO Dan Akerson thought the Chevrolet Volt was a political football, one can only imagine what he thinks about Peugeot and the Iranian nuclear weapons controversy. GM only wants to share logistics, platforms and purchasing with the French company, but is now being told it is “unacceptable for GM to enter into a partnership with a company that so openly deals with a regime that is responsible for the deaths of U.S. and NATO servicemen and threatens U.S. and global security.” Continue reading

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Ex HP Exec to Head GM’s Global Information Technology

The latest senior executive change follows the appointment last week of insider Jon Lauckner, 54, as vice president and chief technology officer. Both appointments are crucial to GM’s ongoing recovery. Less obvious to automotive media, though, is the importance of IT in a global corporation of GM’s size and complexity. Continue reading

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Toyota Projects 20% 2012 Sales Rise. Ichiban Again?

Both General Motors Company and Volkswagen Group, at more than 8 million vehicles each, will outsell Toyota’s 2011 sales tally of fewer than 8 million in a record global market of 75 million vehicles. Continue reading

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GM Q3 Earnings of $1.7 Billion, Most from North America

Virtually all of the Q3 earnings came from North America – $2.2 billion, where Japanese competitors were largely out of the market during the period because of the Japan earthquake, which allowed GM to increase prices. GM Europe lost money; GM South America broke even; and International Operations – home of the booming China market – made $400 million. Continue reading

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Chevrolet and Nissan Succeed with Plug-in Hybrids and EVs as the Business of Plugging In Shows First Product Results

Success is the verdict about one year after the Chevrolet Volt plug-in hybrid and Nissan Leaf EV (electric vehicle) both went on sale, it was revealed last week at the third annual Business of Plugging In Conference in Michigan. And with Cadillac, Ford, Toyota about to introduce the their own plug-in hybrids, and a pure EV version of the tiny Chevrolet Spark coming in 2013, the small niche of electric cars has the chance to grow some more. Continue reading

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Chevrolet to Produce Spark EV All-Electric Vehicle

Chevrolet today announced it will produce an all-electric version of the Chevrolet Spark mini-car – the Spark EV. It will be sold in limited quantities in some U.S. and global markets starting in 2013 in California. The company needs to the CAFE credits from an EV in order to meet impending fuel economy requirements in the U.S. Continue reading

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Ford and General Motors Now Exploring Car Sharing Deals

The two major social benefits of car sharing are said to be fewer vehicles on the road and lower emissions. Frost & Sullivan estimates that, on average, each shared vehicle replaced 15 personally owned vehicles in 2009, and car sharing members drove 31% less than when they owned a personal vehicle. Continue reading

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S&P Raises General Motors to Highest Junk Grade – BB+

The upgrade came one day after the GM’s 49,500 UAW employees ratified a new four-year contract that will not raise GM’s labor costs, and will provide bonuses based on profitability instead of automatic pay raises. GM at this time appears to have the lowest labor costs among the Detroit Three since both Ford Motor and Chrysler UAW contracts are unresolved. It’s ironic that it took a Democratic President to curb the union – in essence breaking it – under the forced bankruptcy reorganization of GM, which included a no strike clause. Continue reading

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