Tag Archives: GM

General Motors Sales in China Set All Time July and CYTD Record

Posted on 7 August 2012 by Ken Zino

General Motors and its joint ventures sold 199,503 vehicles in China, in July, a 15.1% increase from last year’s previous record high for the month. SAIC-GM-Wuling’s sales reached 98,694 units, an all-time high for July and an increase of 26.6% year on year. Continue reading →

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Spyker Sues GM For $3 Billion Over Blocking Saab Sale to Chinese

Posted on 7 August 2012 by Ken Zino

In what could be viewed as the legal equivalent of a Hail Mary pass, Dutch automaker Spyker filed suit against GM in Detroit yesterday, alleging that GM forced the Swedish brand Saab into bankruptcy and then blocked a sale of the company to Chinese investors, which would have ensured its survival. Continue reading →

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GM July Sales in U.S. Down 6% as Market Grows 9%

Posted on 1 August 2012 by Ken Zino

General Motors Company (NYSE: GM) today reported July sales in the U.S. of 201,237 vehicles, down 6% compared with a year ago in what is a recovering U.S. automarket that grew by 9%. GM sales to retail customers declined 3%.

GM’s poor performance was attributable to a large drop in sales to daily rental fleet customers, which were off – 41%. GM previously stated that it needs to wean itself from these sales as it struggles to increase its margins. As a result, so-called average transaction price at GM increased $700 compared to June and $260 year-over-year. Continue reading →

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GM Restructures Global Product Development Again

Posted on 31 July 2012 by Ken Zino

In the seemingly endless series of corporate moves that are always claimed to improve competitiveness, General Motors is restructuring its vehicle line engineering groups to consolidate current development executive roles and reduce new product birthing times. It appears to be the first major action by Mary Barra, a human resources executive who took over product development in January 2011. Continue reading →

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GM Marketing Head Ewanick Resigns as GM Lags in Sales Growth

Posted on 30 July 2012 by Ken Zino

In an unusual Sunday statement, General Motors tersely said yesterday that Global Chief Marketing Officer Joel Ewanick resigned, effective immediately. The resignation comes just days before GM will release Q2 financial results, which will be negatively impacted by product launch and marketing costs, as well as the ongoing struggles of Opel, which is mired in the Eurozone crisis. Continue reading →

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PSA Peugeot Citroën to Reorganize, Close Aulnay Plant

Posted on 13 July 2012 by Ken Zino

Philippe Varin, Chairman of the PSA Peugeot Citroën Managing Board has told the works council that the loss-making French automaker will close the Citroën C3Aulnay plant in 2014, and trim production at Rennes, which makes the Peugeot 508 and Citroën C5 and C6. More than 4,400 jobs are affected. Work in other plants could absorb 1,500 of the displaced workers in the local Paris area. The company will also pursue voluntary separations of its corporate workforce. Continue reading →

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June Auto Sales Soar with Mixed Results for Detroit Three

Posted on 3 July 2012 by Ken Zino

Sales of new cars and light trucks in June increased 22% from the same period a year ago, as the auto industry delivered almost 1.3 million vehicles for the month. On a seasonally adjusted annual basis or SAAR, this meant that the industry-selling rate continues to be more than 14 million units for five of the six months of 2012, resulting in sales of more than 7.2 million vehicles year-to-date. The slowly recovering auto market presented mixed but arguably positive results for the Detroit Three. Continue reading →

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Ford Inflatable Rear Seat Belt to Debut on New Mondeo

Posted on 22 June 2012 by Ken Zino

Ford Motor Company announced today that an inflatable rear seat belt would make its European debut next year on the all-new Mondeo. The inflatable belt is designed to reduce head, neck and chest injuries for rear-seat passengers. Ford said that often children and older passengers who can be more vulnerable to such injuries are in the rear seat. Continue reading →

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Some Saab Assets Sold to a New Electric Vehicle Company

Posted on 13 June 2012 by Ken Zino

National Electric Vehicle Sweden AB (NEVS), a new firm established to purchase bankrupt Saab, and the receivers of Saab today signed a purchase agreement that covers some of the assets of Saab Automobile AB, Saab Automobile Powertrain AB and Saab Automobile Tools AB. The selling price was not disclosed. The company will establish a new automobile venture in Trollhättan, dedicated to the development and manufacturing of electric vehicles (EVs). The intellectual property rights for the aging 9-3, introduced in 1992, were part of a deal that includes all outstanding shares in the company that owns the Saab Automobile facilities in Trollhättan, Sweden. Continue reading →

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GM CFO’s Wife Disclosed in $600,000 Related Party Deal

Posted on 25 May 2012 by Ken Zino

In an amended proxy filing to the Securities and Exchange Commission made public today, General Motors said that it recently learned about a related party transaction in 2011 not included in the original proxy statement. Pernilla Ammann, the wife of GM’s Chief Financial Officer Dan Ammann, is an officer and partner in an advertising agency that received approximately $600,000 for services provided to a GM subsidiary in 2011. Continue reading →

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New EPA Grants Go to Clean Up Contaminated Industrial Sites

Posted on 24 May 2012 by Ken Zino

Since its inception, EPA’s brownfield investments have used more than $18.3 billion in cleanup and redevelopment funding from public and private sources. During an election year, the ‘no jobs’ Obama Administration claims this has resulted in approximately 75,500 jobs. More than 18,000 properties have been assessed, and more than 700 properties have been cleaned up. Continue reading →

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Iran Auto Production Down 27% as UANI Blasts Peugeot and Nissan for Ongoing Business with Islamic Revolutionary Guard

Posted on 23 May 2012 by Ken Zino

The auto industry represents 20% of Iran’s GDP that is dominated by the Islamic Revolutionary Guard Corps. UANI has developed model legislation, The DRIVE Act, to force auto manufacturers to choose between American taxpayers and the regime. The DRIVE Act requires automakers to certify they are not engaged in any business in Iran, or engaged in the implementation of any agreement with Iranian entities in order to be eligible for U.S. government contracts or financial assistance. Continue reading →

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Opel Woes Continue as EU Auto Sales Decline In April. Latest Turnaround Plan Faces Fierce Union Fight over Plant Closings

Posted on 15 May 2012 by Ken Zino

Worrisome for GM shareholders, including the U.S. taxpayers who still own 32% of the world’s largest, but only marginally profitable, automaker after a $50 billion bailout, Stracke told employees that Opel will stay with existing labor agreements through 2014. With the European auto market headed for its fifth straight year of sales declines and with no upturn predicted for years, it’s impossible to see how Opel will cease being a drag on GM earnings. Continue reading →

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Ford and PSA Peugeot Citroën to Drop JV on Diesel Engines

Posted on 5 April 2012 by Ken Zino

PSA Peugeot Citroën and Ford said today that the companies have decided to independently develop and manufacture their larger diesel engines displacing more than 2-liters starting in 2015. The announcement, likely the result of the PSA and General Motors JV announced in February, ends a 12-year business relationship. Continue reading →

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Chrysler, Ford and GM U.S. March Sales Continue Rebound

Posted on 3 April 2012 by Ken Zino

All of the Detroit Three continue to have weak spots as they face the resurgent Japanese and hard charging Korean automakers. However, all have critical car launches this year, which should keep the momentum going. One thing is becoming clearer as the year progresses – the offshore brands are coming back and the loyalty of their buyers remains as impressive as it remains a huge marketing challenge to the Detroit Three. Continue reading →

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