Tag Archives: GM

GM Ups Ante Calls Out Other Automakers on EVs?

The 2017 Chevrolet Bolt EV has an EPA-estimated range of 238 miles (383 kM) from its 60-kWh battery pack that is made in Korea. What the future holds depends energy prices, and EV prices – roughly $40,000 or more with options for a Tesla Model 3 or Bolt mid-size car. Continue reading

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U.S. Leads Powertrain Aftermarket but Trails in Trends

Mexico’s hot climate contributes to vehicle overheating and powertrain component damage along with poor road conditions in many areas, increasing powertrain wear and tear. How this differs from U.S. conditions was not clear. As was the silence on where the U.S. sold parts were built. Continue reading

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Maven Launches City Car Sharing in Atlanta

The growth is impressive and part of a growing trend that threatens the traditional auto industry business model Continue reading

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GM Invests in Orion Assembly Plant Again

The 2011 UAW-GM National Agreement is up for renewal by this September, with the two-tier wage system a major potential point of contention between the Detroit Three and the UAW. Continue reading

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56 Dead from GM Ignition Switches

However, 1,388 more cases are under review, and 1,198 were submitted without documentation to back the claim, according Feinberg’s latest update on his website. Continue reading

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GM Probe on Deadly Cobalt Ignition Switches Clears Top Management as 15 Engineering, Legal, Policy Heads Roll

GM CEO Mary Barra said the Valukas findings were “extremely thorough, brutally tough, and deeply troubling. Overall the report found that, from start to finish, the Cobalt saga was riddled with failures which led to tragic results for many.” Continue reading

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Jim DeLuca to Head GM Global Manufacturing

DeLuca is currently Vice President of Manufacturing for GM International Operations. During 2013, GM launched more than 40 vehicles and more than 20 powertrains around the world, but the automaker is still struggling with commonality and the loss of scale that the overly complex GM lineup causes. Continue reading

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Chuck Stevens Named GM CFO

General Motors today named Chuck Stevens as executive vice president and chief financial officer Continue reading

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See the USA in a Chevrolet, but Not Europe

Cadillac is finalizing plans for expanding in the European market to expand its distribution network during the next three years as it prepares for numerous product introductions. It sounds like the same strategy as the old Chevrolet one, but the difference is GM will not be competing against itself. Cadillac “only” has to compete against Audi, BMW, Lexus and Mercedes-Benz… Continue reading

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GM Sells Peugeot Shares. Claims Strategic Alliance Lives

As GM was issuing its statement, PSA shares in Paris were sinking after the automaker said more write-downs are coming with perhaps the need to raise more capital. GM has already written of part of its investment in PSA and it is clearly cutting its losses, with another write-down likely to follow in its Q4 results. Peugeot is trading at $15 a share, down from $30 in 2012. Continue reading

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Mary Barra to become GM CEO when Dan Akerson Retires

There’s the sound of breaking glass in Detroit this morning as General Motors says that Dan Akerson steps down as chairman and CEO on 15 January 2014 with Mary Barra, 51, currently executive vice president, Global Product Development is elected by the Board of Directors to become the next CEO.
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Chrysler Group Up, General Motors Down in Q3 Earnings

Both results were significantly less than Ford Motor Company’s Q3 profit of $2.6 billion, which was based largely on sales and financing in North America with some contributions from other regions, the same pattern at Chrysler an GM. Continue reading

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Peugeot Q3 Sales, Revenues Down. GM JV Scaled Back

The Peugeot Group this morning in Paris posted Q3 revenues of €12.1 billion, down -3.7%. Automotive revenues were €8 billion, down -5.8%. Continue reading

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GM Declares Dividend on Series B Preferred Stock

General Motors (NYSE: GM) will pay a quarterly dividend of $0.59375 per share on its Series B mandatory convertible junior preferred stock on 2 December 2013 to Series B holders of record as of 15 November. Continue reading

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GM to Buy Back UAW Held Stock. Dividends to Follow?

The VEBA currently holds 260 million shares of Preferred Stock, and Canada GEN Investment Corporation holds another 16 million shares. Until the ownership of these shares transfer back to GM or other independent buyers, the slur “Government Motors” still applies since the shares where part of a controversial but effective bankruptcy reorganization that Canadian and U.S.> taxpayers subsidized in 2009. Continue reading

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