Category Archives: results

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

Posted in financial results | Tagged , , , , | Leave a comment

Electric Vehicle Sales to Top 2 Million by 2020?

This latest soothsaying from ABI Research flies in the face of the trend actual EV sales thus far, which have been weak because of image, price, performance and recharging problems. Continue reading

Posted in electric vehicles, fuel economy or emissions | Tagged , , , | Leave a comment

GM Financial Buys Ally Assets in Brazil

The latest move continues GM’s plan to put back in place a GMAC-like operation, with many of the companies coming from Ally, which was GMAC and went bankrupt at the onset of the Great Recession because of its reckless home lending practices. A controversial U.S. taxpayer-funded bailout ensued, one that has not been paid back. Continue reading

Posted in auto news, financial results | Tagged , , , , , , | Leave a comment

September U.S. Auto Sales Down for First Month in Three Years

U.S. Auto sales of light vehicles declined in September for the first time in three years, as a calendar quirk and weakening of Asian brand vehicles displaced strong growth at the Detroit Three. Continue reading

Posted in sales | Tagged , , , , , | Leave a comment

Volkswagen Group Opens New Plant in Foshan, China

China is the Volkswagen Group’s largest sales market worldwide. In 2012, the company delivered more than 2.81 million vehicles to customers in the country. In the first eight months of this year, VW claims that deliveries rose by 18% compared with the comparable prior-year period to more than 2 million vehicles. This is a close second to General Motors the long-time market leader at more than 2.2 million units. Continue reading

Posted in manufacturing, sales | Tagged , , , , | Leave a comment

China Light Vehicle Sales Remain Strong in August

LMC notes that widespread industry predictions of only single digit growth rates for auto sales this year and for the next couple are increasingly looking erroneous and is sticking to a more than 13% increase during 2013 as a forecast. Continue reading

Posted in sales | Tagged , , , , | Leave a comment

Henkel Opens World’s Largest Adhesives Plant in Shanghai

Henkel opened what it claims is the world’s largest adhesives factory in Shanghai to serve the auto industry and various consumer goods producers. Continue reading

Posted in auto news, manufacturing, milestones | Tagged , , , | Leave a comment

Treasury Selling More GM Common Stock

The U.S. Department of the Treasury is continuing its sales of GM common stock starting today by launching a third “pre-defined written trading plan.” Terms were not disclosed. Continue reading

Posted in auto news, financial results | Tagged , , , , | Leave a comment

GM Prices $4.5 Billion of Bonds to Buy Back VEBA Stock

General Motors Company announced today the pricing of three series of bonds that it will sell and use the $4.5 billion in proceeds to buy back stock from the UAW Retiree Medical Benefits Trust. Continue reading

Posted in financial results | Tagged , , , , | Leave a comment

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

Posted in financial results | Tagged , , , , | Leave a comment

BMW Recalls 5-Series Cars for Defective Rear Lights

BMW said that it does not believe a safety defect exists but is recalling the cars anyway. While likely such language is lawyer dictated, the Bavarians have a precarious relationship with U.S. safety regulators. Previously BMW was fined by NHTSA for covering up safety defects. Continue reading

Posted in customer satisfaction, news analysis, quality, recalls, safety | Tagged , , , | Leave a comment

European Car Sales Down. Lowest Level Ever for Year

From January through August 2013, new car sales amounted to 7,841,596 units or 5.2% less than in the same period last year. This means that it was the lowest January to August level ever recorded since record keeping began in 1990, according to ACEA, the automakers trade association. Continue reading

Posted in sales | Tagged , , , , | Leave a comment

U.S. Trade Deficit Disaster Continues. Auto Industry Hit Hard

The United States’ international trade deficit in goods and services increased to $39.1 billion in July from $34.5 billion in June as exports decreased and imports increased. Imports increased to $228.6 billion in July from $225.1 billion in June. Goods were $191.3 billion in July, up from $187.9 billion in June. Services were $37.3 billion in July, up from $37.2 billion in June. Continue reading

Posted in auto news, financial results | Tagged , , , | Leave a comment

U.S. New Car Transaction Prices Continue Slow Rise

The average transaction price for new light vehicles in the United States was $31,657 in August 2013, an increase of $221 or +0.7% year-over-year. Continue reading

Posted in financial results | Tagged , , , | Leave a comment

Chrysler IPO Filing this Week

The UAW says the stock is worth $10.3 billion; Fiat says it is worth $4.2 billion. Fiat, of course, saved Chrysler from oblivion in 2009 as part of a controversial U.S. Treasury financed bankruptcy proceeding that essentially handed over Chrysler to Fiat for Fiat’s promise to save UAW jobs and reinvest in the company, but no cash. Continue reading

Posted in financial results | Tagged , , , , , | Leave a comment