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Tag Archives: gm results
General Motors September U.S. Vehicle Sales Up Slightly
General Motors reported September U.S. vehicle sales of 210,245 vehicles, an increase of 1.5% compared year-over-year to September 2011 in an industry that grew by 14.5%. GM sales executives, looking for a bright spot, said that passenger car sales increased to 89,000 from 69,000 for September, or +29%, compared to an industry gain of +23.5%. All GM brands increased their retail sales in what was another tough month for the U.S.’s largest automaker. The largest U.S. automaker now unquestionably has a better sales mix with calendar year-to-date sales of 813,000 cars, 678,000 trucks and 478,000 crossover vehicles. GM sales year-to-date are up 3.4% in an industry that recovered at four times that rate, though. The tepid or turn-around GM sales – choose your interpretation – GM are the sum of a complex three-dimensional game, which attempts to balance profits, capacity, competitive actions and momentum, with still badly needed brand rebuilding. Continue reading
Posted in auto news, news analysis, results, sales
Tagged auto bailout, auto informed, autoinformed.com, automotive news, gm results, Ken Zino, results, truck sales
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GM Q2 Profits Drop to $1.5 Billion From $2.5 Billion as Its European Losses Grow. Revenue and Cash on Hand also Decreased.
General Motors Company (NYSE: GM) today said Q2 income was $1.5 billion, or $0.90 per share of common on revenue $37.6 billion. The disappointing results compared to Q2 2011 where GM’s net income attributable to common stockholders was $2.5 billion, or $1.54 per fully diluted share. GM said the decrease was due almost entirely to the strengthening of the U.S. dollar versus other major currencies. Earnings before interest and tax (EBIT) adjusted was $2.1 billion, compared with $3.0 billion in the second quarter of 2011.
“Despite the challenging environment, GM has now achieved 10 consecutive quarters of profitability, which is a milestone the company has not achieved in more than a decade,” said GM chairman and CEO Dan Akerson. The CEO also alluded to ongoing management changes and reorganizations, saying “we will not hesitate to act to make the business stronger” by replacing people who don’t deliver results, with no apparent awareness that U.S. taxpayers who still hold a large stake in the company could apply that dictum to him. Continue reading
Posted in auto news, financial results, news analysis, results
Tagged auto informed, autoinformed.com, automotive news, gm results, Ken Zino, results
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GM Makes $1 Billion in Q1. Down from $3.2 Billion in 2011
GM stock has been trading $22-$23 range, well down from the $33 level of GM’s 2010 initial public offering, to say nothing of what is happening to small investors who subsequently bid the stock – which pays no dividend – up to $39 before reality took hold. Continue reading
GM Posts Record $9.1 Billion Profit in 2011 – $7.6B on Common
GM’s latest results will no doubt add more fodder as the elite political ruling class continues a contentious debate about the proper roll of government in the weak U.S. economy in general, with the $80 billion auto bailout one of the focal points. One wag suggested that Democrats should run on “Bin Laden is Dead, GM is Alive.” Continue reading
Posted in auto news, financial results, results
Tagged 2011 results, auto bailouts, auto informed, autoinformed.com, automotive news, financial results, GM, gm results, Ken Zino, results
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GM U.S. Sales Up 5% in December, +14% 2011. Share Increases
GM expects full-year 2012 light vehicle sales to be in a range of 13.5 million to 14.0 million units. In previous years, GM’s forecasts were based on total vehicle sales, which included medium- and heavy-duty vehicles, or about 300,000 additional units. Continue reading
Posted in auto news, marketing, news, news analysis, results, sales
Tagged 2011 results, auto informed, autoinformed.com, automotive news, gm results, Ken Zino, results, sales results
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GM U.S. Sales Up 7% in November – SAAR Booming
Increased sales of pickup trucks and full size vans dominated GM’s results. GM deliveries y-o-y showed a 34% increase in Chevrolet Silverado pickuo truck sales (34,251) and a 22% increase in GMC Sierra pickup sales at 11,971 Continue reading
Posted in auto news, news, news analysis, results, sales
Tagged auto informed, auto news, autoinformed, autoinformed.com, automotive news, gm results, Ken Zino, november sales, results, sales, silverado, volt, zino
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GM China Sales Set October Record – Surpass U.S.
During October 2011, sales by GM in China surpassed 2 million, reaching 2,113,274 units – more than the 2,000,000 units it has sold in the U.S. ytd. Two of GM’s manufacturing joint ventures surpassed 1 million annual sales in China, with Shanghai GM’s sales totaling 1,009,536 units and SAIC-GM-Wuling’s sales coming in at 1,053,196 units. This was the earliest in their history that GM and its joint ventures reached these sales milestones. Continue reading
GM October Sales Up 2%. Three of Four Brands Down
Chevrolet was actually the only GM brand to increase sales year-over-year. Buick at -7%, Cadillac at -12% and GMC at -5% all posted sales declines during the model year changeover, which also saw Japanese makers return post earthquake with rebuilt inventories of news cars and trucks. Continue reading
General Motors U.S. August Sales Increase 18%
General Motors today reported total August sales of 218,479 vehicles, an 18% increase compared with August 2010. The August sales gains were evenly divided among car, crossover and the truck segments that GM reports on. Continue reading
GM U.S. Sales Increase 8% in July. Cadillac off 26%
General Motors dealers in the United States sold 214,915 vehicles in July, an 8% sales gain compared to July 2010. Retail sales for GM’s brands rose 6% for the month compared to a year ago, and were 1% higher than June, as the U.S. economy continues to struggle with slow – or no growth – and high unemployment rates. Continue reading
Posted in auto news, economy, results, sales
Tagged auto informed, auto news, autoinformed, autoinformed.com, automotive news, general motors results, gm results, gm sales, july results, Ken Zino, results, zino
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General Motors Posts 2011 Q1 Profit of $3.2 Billion. Results Almost Doubled by One Time Sales of Ally and Delphi Preferred
The General Motors results were not as strong as they appear on first glance because special items increased profits by $1.5 billion or $0.82 per fully-diluted share. GM stock is currently selling at under $32 a share, below the initial IPO price of $33 last November. Continue reading
General Motors Posts 2010 Net of $4.7B on $135.6B of Income
General Motors Company (NYSE: GM) today announced its calendar year 2010 results of $4.7 billion of net income per share of common stock for its first full year of operations after it emerged from bankruptcy as a U.S. and Canadian taxpayer owned automaker. Continue reading
Posted in auto news, economy, financial results, news analysis, results
Tagged 2010 results, auto informed, auto news, auto results, autoinformed, autoinformed.com, automotive news, gm results, Ken Zino, results, zino
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General Motors Q3 Earnings Hit Hard – $1.3B – by UAW Strike
GM said it would not be able to makeup lost production and revenue losses this year. About two weeks of vehicle production was lost. GM predicts the 2019 calendar-year impact of the strike to be approximately -$2.00 per diluted-share. Continue reading →