Tag Archive | "General Motors"

General Motors and Ford Motor Co. Auto Sales See Declines in June

Monday, July 5, 2010

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General Motors and Ford (NYSE:F) both reported June sales numbers which fell short of analysts’ estimates as wary consumers avoided large purchases during the month. General Motors U.S. sales rose by 11%, missing the 16% estimate average that Bloomberg reported. Ford sales rose by 13%, less than the 16% projection reported by Bloomberg. Many believe that the [...]

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Got guts? What to expect from GM’s IPO

Tuesday, June 15, 2010

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FORTUNE — Is it worth buying when your government is selling? That will be a big question when the colossal, and once colossally troubled, General Motors finally has its coming out party, which could occur as early as the end of this year. The question became timely when news leaked on Friday, stating that General [...]

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Obama’s Auto Czar Steps Down

Tuesday, June 15, 2010

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WASHINGTON — The Obama administration is shopping for a new “car czar” after Ed Montgomery stepped down on Monday to become the dean of public policy at Georgetown University. Montgomery held the critical post as the U.S. auto industry bled 400,000 jobs and Chrysler and General Motors sought to rebound after seeking bankruptcy protection in [...]

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GM sales rising while Toyota suffers: Edmunds.com

Thursday, May 20, 2010

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General Motors Co.’s retail sales are up 9% so far this month while rival Toyota Motor Corp. has seen a 12% drop, according to a report from car-buying research Web site Edmunds.com on Thursday. “We’re noticing that Toyota’s incentive program is starting to fall on deaf ears since most of the people who were open [...]

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Chrysler watching GM financing moves closely

Friday, May 14, 2010

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CEO Marchionne meets with US lawmakers in Washington WASHINGTON – Chrysler Group LLC would need time to find a permanent and stable replacement for providing auto loans if it loses access to bank financing it shares with General Motors Co GM.UL, Chrysler Chief Executive Sergio Marchionne said on Thursday. Marchionne made the comment after updating Michigan lawmakers [...]

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Ford and Honda Win Big with Vincentric’s 2010 Best Value in America Awards

Friday, May 14, 2010

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BINGHAM FARMS, Mich.–(BUSINESS WIRE)–Ford and Honda continued to show strength in the resurgent automotive industry as they earned top honors in the 6th annual Vincentric Best Value in America™ awards announced earlier today. Both companies garnered 6 awards, with Ford’s high-end Lincoln MKS and MKT vehicles complementing the strong showing from Ford’s heavy duty pickups. [...]

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Everyone Wins in April 2010 Auto Sales

Wednesday, May 5, 2010

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If April 2010 sales are any indication, the auto industry continues to show steady gains. Last month, overall industry sales totaled 982,131 vehicles, which is a 19.8 percent increase over April 2009. However, it’s a decrease as compared to March 2010. “The Detroit News explains, “Those numbers translated into a seasonally adjusted selling rate of just [...]

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Minister Clement Welcomes News of General Motors of Canada’s Investment in St. Catharines

Wednesday, April 28, 2010

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OTTAWA, April 27, 2010 – Today, the Honourable Tony Clement, Minister of Industry, issued the following statement welcoming the news of a $235-million investment by General Motors of Canada Limited (GMCL) in St. Catharines, Ontario: “This is great news for the automotive industry and for St. Catharines. This latest investment means 400 jobs will be [...]

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GM Temporarily Restarts Saturn, Hummer Production

Tuesday, March 16, 2010

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Although production of both Saturns and Hummers has officially ceased, General Motors is building a few extra vehicles to help liquidate its parts supply and fill outstanding orders. Saturn production officially stopped in October 2009, after a deal to sell the brand to Penske Automotive Group fell through. Production of the Outlook crossover, however, apparently resumed [...]

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GM to reinstate 661 dealerships The automaker will reinstate 661 of the franchises that it planned to drop.

Thursday, March 11, 2010

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By Jerry Hirsch and Tiffany Hsu March 5, 2010 In a move that could provide economic relief for hundreds of communities nationwide, General Motors Co. said it would reinstate nearly 700 dealerships that it had planned to drop from its sales network. The automaker sought to shed what it considered excess dealers as part of a bankruptcy [...]

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