• Sat
  • Dec 20, 2014
  • Updated: 8:30pm

GM

General Motors (GM) is a US carmaker that was the world’s biggest, although Toyota is challenging it for the title. It was hard hit by the global financial crisis, needing a government bailout, but emerged from chapter 11 reorganisation in 2009, and held an initial public offering in 2010. It returned to profit in 2011.

GM to buy back some preferred shares from UAW trust for US$3.2b

GM ended the second quarter with almost US$35 billion in total automotive liquidity, including more than US$24 billion in cash and marketable securities. Photo: Reuters

General Motors said on Monday it would buy back just under half of its preferred shares held by the United Auto Workers healthcare trust for about US$3.2 billion, essentially cutting company costs by financing the deal with lower-cost debt.

Tuesday, 24 September, 2013, 11:54am

GM plans to more closely intertwine Buick and Opel brands

The quirky Opel Adam, which is aimed at BMW’s Mini Cooper, has been a hit for the Opel brand in Europe since its introduction earlier this year. Photo: AFP

Buick customers in the United States and China could see more European design and engineering in an expanded range of new models by 2020, as General Motors more closely integrates global product development between Buick and GM’s German brand Opel.

18 Sep 2013 - 11:49am

GM working on 200-mile electric car, exec says

GM has nearly doubled the size of its Global Battery Systems Laboratory, where it tests and validates battery cells and packs for GM’s vehicle electrification systems. Photo: EPA

As automakers race to make cheaper electric cars with greater battery range, General Motors is working on one that can go 200 miles (320 kilometres) per charge at a cost of about US$30,000, a top company executive said.

Vice President of Global Product Development Doug Parks wouldn’t say when or if such a car will be built, however.

17 Sep 2013 - 10:59am

Government sells another US$811m in GM stock

The government has recovered about US$35.4 billion of the US$49.5 billion it spent bailing out GM. Photo: AP

The government is getting closer to selling all of its General Motors stock.

The Treasury Department said in its August report to Congress that it sold US$811 million worth of GM common stock last month.

11 Sep 2013 - 12:25pm

US auto sales accelerate to best pace since 2007

Total US auto sales have jumped to an adjusted, annual rate of 16.1 million, according to Autodata. Photo: AP

US auto sales accelerated to the best pace since October 2007 as major automakers posted double digit gains on Wednesday and forecast more growth in the months to come.

Total industry sales rose 17 per cent when compared with August last year while the sales pace jumped to an adjusted, annual rate of 16.1 million, according to Autodata.

5 Sep 2013 - 12:01pm

GM says August China auto sales up 11.2pc

GM said vehicle sales rose 11.1 per cent year-on-year in July in China. Photo: AFP

General Motors and its Chinese joint ventures sold 245,799 vehicles in China in August, an 11.2 per cent increase from a year earlier, the US automaker said on Wednesday.

In July, year-on-year vehicle sales rose 11.1 per cent.

GM makes vehicles in China in partnership with FAW Group and SAIC Motor.

4 Sep 2013 - 12:51pm

GM says almost-driverless cars coming by 2020

GM says within a few years it will make cars with a system that will steer cars, keeping them between the lane lines. Photo: Reuters

General Motors says that before the end of this decade it will begin selling cars that can almost drive themselves.

The automaker says a system, called “Super Cruise” will use radar and a camera to steer cars, keeping them between the lane lines. The radar also will keep cars a safe distance from cars head of them.

29 Aug 2013 - 9:05am

Detroit carmakers wrestle with Silicon Valley VC model

The unexpected success of high-tech vehicles from Tesla has big Detroit carmakers scurrying to catch up. Photo: AP

Detroit automakers General Motors and Ford, trying to shake off decades of insularity, are looking to California’s Silicon Valley and beyond for innovative ideas and technology that could disrupt and even transform the car business.

22 Aug 2013 - 2:19pm

GM plans gradual pullout of South Korea as labour costs surge

GM is reportedly reconsidering its reliance on South Korea, blaming militant unions and rising wages. Photo: AP

General Motors has begun gradually cutting its presence in South Korea after mounting labour costs and militant unionism triggered a rethink of its reliance on the country for a fifth of its global production, three individuals familiar with GM’s thinking said.

12 Aug 2013 - 2:39pm

Trucks lift US auto sales to best month since 2007

Ford had its best sales in June since 2006, with sales of its best-selling F-150 pickup jumping 24 per cent. Photo: AFP

Sales of brawny pickup trucks fueled strong demand for new vehicles in the United States in June, driving the industry toward its strongest month since late 2007, before the financial crisis that drove General Motors and Chrysler into bankruptcy.

3 Jul 2013 - 1:31pm

GM targets investment grade rating ’within the year’

General Motors’ boss Dan Akerson said Cadillac’s past mistakes included ugly designs and limiting the brand to North America. Photo: AFP

General Motors said it is targeting an investment grade credit rating “within the year” as the US automaker works to distance itself from the stigma of its 2009 bankruptcy.

13 Jun 2013 - 11:31am

GM boosts exports of China-built cars to supply emerging markets

General Motors is the biggest foreign automaker by sales in China. Photo: AFP

General Motors, the biggest foreign automaker by sales in China, aims to boost its exports from the country by nearly 70 per cent this year because of strong demand for its Chinese-developed low-cost cars, a local executive said.

29 Aug 2013 - 4:13am

US stake sale of GM to revive image

General Motors expects its image to improve after the US government sells down the last of its stake in the company. Photo: AP

The sale of the US Treasury’s stake in General Motors and a possible credit rating upgrade of the US automaker this year will help distance the company from the stigma of its 2009 bankruptcy restructuring.

14 Jan 2013 - 11:25am

China passenger-vehicle sales gain 8.75pc in November

Staff walk past vehicles on display at the GM Buick Yongda dealership in Shanghai.  General Motors, the biggest foreign automaker in China, reported a 9.7 per cent rise in November sales to 260,018 units, led by its Chevrolet and Buick brands, outpacing an 8.75 per cent rise in the broader market.  Photo: Bloomberg

Chinese monthly passenger-vehicle sales rose to the highest in almost two years, beating analyst estimates, as consumer confidence improved with the economy and dealerships increased discounts to reduce stockpiles.

10 Dec 2012 - 2:58pm

China passenger vehicle sales rise 8.75pc in November

Chinese monthly passenger-vehicle sales rose to the highest in almost two years, beating analyst estimates, as consumer confidence improved with the economy and dealerships increased discounts to reduce stockpiles.

10 Dec 2012 - 2:55pm

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