Category Archives: financial results

GM Q1 Underwhelms with $1.7 Billion Revenue Drop

Posted on 23 April 2015 by Ken Zino

North America and GM Financial were the only divisions with solid operating results. Continue reading →

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General Motors Financial Net Income Up slightly in Q1

Posted on 23 April 2015 by Ken Zino

GM has now rebuilt its former GMAC Financial empire as a separate business after GMAC (aka Ally) one that went bankrupt over demonstrably and fraudulently bad home loans during the Great Recession. Continue reading →

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Huge Bonus declared for Porsche employees

Posted on 25 March 2015 by Ken Zino

During 2014 the launch of the Porsche Macan as the second SUV in the model range from what was once a sports car maker increased deliveries by 17% to ~190,000 vehicles compared to 2013. This earned owner Volkswagen Group roughly $23,000 per Porsche peddled. Continue reading →

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GM Dumps Most Manufacturing in Russia for Imports Only

Posted on 18 March 2015 by Ken Zino

GM in Russia will now try to sell in the premium segment of market with Cadillac – perhaps some built in China – and U.S.-built Chevrolet products such as the Corvette, Camaro and Tahoe. Continue reading →

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US Subprime Loan Quality Weakens

Posted on 16 March 2015 by Ken Zino

U.S. auto lenders are likely to see subprime loan asset quality weaken in 2015, with annualized net losses (ANLs) above their historical averages of 6.24% recently reaching 8% before dropping to 7.26% as of the end of February. The level remains below the past recession peaks of 9%-13%, according to Fitch. Continue reading →

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China World’s Biggest Auto Market by Units, Not Revenue

Posted on 9 March 2015 by Ken Zino

Total value for new vehicles sold in China, the world’s largest market by volume, lagged the U.S. by as much as $161 billion last year, based on a comparison of pricing data. Continue reading →

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General Motors Will Distribute Cash as Wilson Drops Board Bid

Posted on 9 March 2015 by Ken Zino

The deal is a major victory for the investors while giving relief to GM of what could have evolved into a fight with major shareholders. However, GM slashed its previously announced cash target that it claimed was key to keeping a ‘fortress balance sheet.” How the ratings agencies react remains to be seen. Continue reading →

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Tesla Posts Loss Yet Again

Posted on 16 February 2015 by Ken Zino

Chief booster Elon Musk said in a letter to shareholders – not without billions in self interest – that the company expected to begin deliveries of the Model X in Q3 during this year – a long delay from original promises. Continue reading →

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Proxy Fight Looming at General Motors by Hedge Fund Sharks?

Posted on 11 February 2015 by Ken Zino

The ploy is clearly threat to GM’s “fortress balance sheet” strategy that looks to clean up underfunded pension liabilities and preserve enough cash to weather another global recession. GM has now posted 20 consecutive quarters of profits. Continue reading →

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2014 Profits All Drop at FCA, Ford, GM

Posted on 10 February 2015 by Ken Zino

The Detroit Three all posted 2014 profits that were down from a year earlier in a booming global auto market, but each had different reasons for the declines, in stark contrast to other global automakers, notably Volkswagen Group, and Toyota Motor Corporation, Whig had record breaking results. Continue reading →

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GM in Process of Dumping Ally, Formerly GMAC

Posted on 8 February 2015 by Ken Zino

General Motors is in the midst of rebuilding its long gone GMAC financial empire due to bankruptcy, is replacing it with General Motors Financial, which appears to be an exact duplicate of the auto-lending arm of Ally, formally known as GMAC without the housing lending risks that sunk the company. Continue reading →

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U.S. New Vehicle Revenue at $38 Billion in January

Posted on 3 February 2015 by Ken Zino

The average transaction price (ATP) for light vehicles was $32,812, up 3.5% from a year ago, while average incentive spending per unit increased by $93 to $2,642. Continue reading →

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GM Dividend Stays at 30 Cents

Posted on 21 January 2015 by Ken Zino

The General Motors Company (NYSE: GM) Board of Directors today declared a Q1 2015 dividend of 30 cents per share on its common stock. The dividend is payable Tuesday 24 March 24 to all common stockholders of record as of Wednesday, 11 March. On an annual basis, the dividend of $1.20 is paying 3.6%. Continue reading →

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GM Buys Back all Series A Preferred Stock

Posted on 31 December 2014 by Ken Zino

The preferred shares had a liquidation preference of $25 per and accrued cumulative dividends at a rate equal to 9% annually, which was an expensive ~$350 million annual cost. GM used cheaper debt to buy the stock. Continue reading →

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FCA – First Earnings since Chrysler Merger Mixed to Weak

Posted on 31 October 2014 by Ken Zino

Worrisome was a huge charge that FCA took for the cost of safety recalls and warranty repairs in the U.S. – a whopping €200 million for Q3 alone. Continue reading →

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