Aug. 12, 2010 at 7:09 a.m.
Filed under:
Autos,
Bankruptcy,
Earnings
By CNN
General Motors posted its second straight profitable quarter Thursday, putting it in position to move ahead with the sale of shares to the public that is needed to repay taxpayer assistance it received last year.
The No. 1 automaker in terms of U.S. sales reported earnings of $1.3 billion in the quarter after the payment of dividends on preferred shares held by the U.S. Treasury. That was a stark turnaround from the $12.9 billion it lost in the year-earlier period when the company went into bankruptcy. Get the full story »
Aug. 11, 2010 at 2:43 p.m.
Filed under:
Autos,
Chicago executives,
IPOs
By Reuters
General Motors Co. could file paperwork for its initial public offering as soon as Friday, CNBC reported Wednesday. The U.S. automaker is expected to file for an IPO worth up to $20 billion. At that size, it would be the biggest U.S. IPO since Visa Inc’s $19.7 billion offering in March 2008 and one of the biggest IPOs of all time. Get the full story »
Aug. 5, 2010 at 11:38 a.m.
Filed under:
Autos,
Bankruptcy,
IPOs,
Stock activity
By Reuters
General Motors Co. has begun to work on the U.S. regulatory filing needed for an initial public offering but does not expect to have that ready in the next two weeks, Chief Executive Ed Whitacre said on Thursday.
“We are working on an S-1,” Whitacre told Reuters, referring to the U.S. Securities and Exchange Commission registration statement required for a securities offering. Get the full story »
July 30, 2010 at 2:52 p.m.
Filed under:
Autos,
Energy,
Manufacturing
By Associated Press
General Motors said Friday that it is boosting production capacity for its new Chevrolet Volt due to strong public interest in the electric car that goes on sale this year.
GM will now have a production capacity of 45,000 vehicles in 2012, up from previous plans for 30,000.
The automaker made the announcement as President Barack Obama toured the Volt production facility in Detroit.
Get the full story »
July 29, 2010 at 11:01 a.m.
Filed under:
Autos,
Earnings
By Reuters
Auto parts maker Tenneco Inc. on Thursday posted a second-quarter profit that surged past Wall Street expectations, as auto production rose by 72 percent in North America, its largest market.
Tenneco shares rose more than 6 percent in morning trading, to $25.61. Get the full story »
July 27, 2010 at 5:01 p.m.
Filed under:
Autos,
Updated
By Reuters
The Chevy Volt.
General Motors Tuesday set a price of $41,000 for its electric Chevrolet Volt — $8,000 more than its nearest competitor, the Nissan Leaf.
GM also said Tuesday that it has begun taking orders for the Volt and would offer a $350 per month lease option for the much-anticipated vehicle as it launches in a handful of U.S. markets beginning with California. Get the full story »
July 23, 2010 at 5:48 a.m.
Filed under:
Autos,
IPOs,
Labor,
Unions
By Reuters
General Motors Co. plans to file its registration for an initial public offering during the week of Aug. 16, just after the expected date for its second quarter results, according to two people with direct knowledge of the preparations.
A GM filing with the U.S. Securities and Exchange Commission would be the first step toward an IPO to reduce the U.S. government’s ownership in the automaker after a $50 billion bailout in 2009. Get the full story »
July 22, 2010 at 7:50 a.m.
Filed under:
Autos,
Banking
By CNN
General Motors is paying $3.5 billion in cash to buy subprime auto lender AmeriCredit, a move that will once again give the automaker its own finance arm. General Motors will pay $24.50 a share for AmeriCredit, which represents a 24 percent premium over Wednesday’s closing price. Get the full story »
July 22, 2010 at 6:48 a.m.
Filed under:
Autos,
Consumer electronics,
Consumer news
By CNN
General Motors will distribute OnStar smartphone applications later this year that will allow Chevrolet, GMC, Buick and Cadillac owners to do things like lock their car doors or start the engine from miles away. Get the full story »
July 12, 2010 at 5:50 p.m.
Filed under:
Autos
By Associated Press
Corvette owners could soon be revving up an engine they built with their own hands.
General Motors Co. said Monday that buyers who order a 2011 Chevrolet Corvette Z06 or ZR1 can help assemble their cars’ high-performance LS7 and LS9 engines. The automaker believes the program is the first of its kind in the industry. Get the full story »
July 9, 2010 at 2:35 p.m.
Filed under:
Autos
By McClatchy Tribune Newspapers
While sales of cars and trucks in the U.S. continue to be more sluggish than expected, automakers – especially the Detroit Three — are seeing the largest increase in average transaction prices in more than five years.
Industrywide, consumers spent an estimated average of $29,217 on a new car or truck from January through May, an increase of $1,057, or 3.7 percent, from last year, according to estimates provided by Edmunds.com. Edmunds’ estimate is based on a sampling of data from about 40 percent of U.S. dealers. Get the full story »
July 2, 2010 at 1:19 p.m.
Filed under:
Autos,
Banking,
Economy,
IPOs,
International
By Reuters
General Motors Co. plans to file its initial public offering in mid-August, a source familiar with the situation said Friday.
General Motors is also in talks with banks for a revolving line of credit worth $5 billion. Bank of America Corp., Citigroup Inc., JPMorgan Chase & Co. and Morgan Stanley each have agreed to provide $500 million worth of credit. Get the full story »
July 2, 2010 at 5:54 a.m.
Filed under:
Autos,
China,
International
By Reuters
General Motors’ first-half sales in China, the world’s biggest auto market, exceeded sales in its home U.S. market for the first time, according to data released on Friday. GM’s China auto sales jumped 48.5 percent to 1.21 million units in January through June, compared with the 1.08 million light vehicles it delivered in the U.S. over the same period, company data showed. Get the full story »
July 1, 2010 at 2:13 p.m.
Filed under:
Autos
By Associated Press
Most automakers saw their U.S. sales drop from May to June, a sign that this year’s slow recovery in the industry may be stalling.
Americans are delaying big-ticket purchases because they’re worried about their jobs in a period of high unemployment. Nervous consumers could mean a tough summer for automakers, which hope to improve sales after a dismal 2009. Get the full story »
June 29, 2010 at 11:31 a.m.
Filed under:
Video
