Maven is propping up a weak GM stock.
General Motors Co. (NYSE: GM) today declared a fourth quarter 2017 dividend of 38 cents per outstanding share of common stock ahead of it of Q3 earnings announcement. (Ford Motor reports Thursday morning.) The dividend is payable Thursday, December 21, 2017 to all common shareholders of record at the close of business on Friday, 8 December 2017 GM stock closed at 45.15-0.46 (-1.01%).
GM shares have moved higher since September – about +29.5% for the year. The company claims it is concentrating on ridesharing – the Lyft semi-acquisition looks brilliant – electric vehicles and self-driving cars. GM is also adding Maven Gig to more cities. The potentially vehicle absorbing/selling/leasing program is partially aimed at Uber, Lyft and delivery drivers. For a flat fee, drivers can rent cars, including insurance and maintenance, directly from the company. (See AutoInformed.com on: Maven Gig Expands to San Francisco, Maven Debuts “Elevated” Car Sharing in Baltimore, Maven Expands Los Angeles Car Sharing with Chevrolet Bolt, Maven Launches City Car Sharing in Atlanta, Maven Car Sharing Now in Denver, Los Angeles, San Francisco)
September U.S. auto sales dropped notably when compared to September 2016, but were still relatively strong, according to AutoData. It said that the seasonally adjusted annual rate (SAAR) in September was 17.76 million units compared to 18.05 million units a year ago.
Industry-wide, 1,435,689 light vehicles were sold in September, compared to 1,512,556 in August and 1,522,297 in July. (See AutoInformed.com on: U.S. Sales Drop in September. Domestics Struggle with Cars)
About Ken Zino
Ken Zino, publisher (kzhw@aol.com), is a versatile auto industry participant with global experience spanning decades in print and broadcast journalism, as well as social media. He has automobile testing, marketing, public relations and communications experience. He is past president of The International Motor Press Assn, the Detroit Press Club, founding member and first President of the Automotive Press Assn. He is a member of APA, IMPA and the Midwest Automotive Press Assn.
Zino is at home on test tracks, knows his way around U.S. Congressional hearing rooms, auto company headquarters, plant floors, as well as industry research and development labs where the real mobility work is done. He can quote from court decisions, refer to instrumented road tests, analyze financial results, and profile executive personalities and corporate cultures.
He also brings an historical perspective while citing their contemporary relevance of the work of legendary auto writers such as Ken Purdy, Jim Dunne or Jerry Flint, or writers such as Red Smith, Mark Twain, Thomas Jefferson – all to bring perspective to a chaotic automotive universe.
Above all, decades after he first drove a car, Zino still revels in the sound of the exhaust as the throttle is blipped and the driver’s rush that occurs when the entry, apex and exit points of a turn are smoothly and swiftly crossed. It’s the beginning of a perfect lap.
AutoInformed has an editorial philosophy that loves transportation machines of all kinds while promoting critical thinking about the future use of cars and trucks.
Zino builds AutoInformed from his background in automotive journalism starting at Hearst Publishing in New York City on Motor and MotorTech Magazines and car testing where he reviewed hundreds of vehicles in his decade-long stint as the Detroit Bureau Chief of Road & Track magazine. Zino has also worked in Europe, and Asia – now the largest automotive market in the world with China at its center.
