real-time news and commentary for investors
Monday, Sep 2
GM predicts that Chevolet sales will reach 5M
- GM (GM) forecasts that global Chevrolet sales will hit 5M for the first time in 2013, rising from 4.95M last year.
- Sales in he Middle East are expected to contribute to the increase despite the turmoil in the region, although growth in the area is projected to slow to 4-5% from 7-9% over the past three years.
- Meanwhile, GM and Toyota (TM) plants in Australia face uncertainty as the country prepares for an election on Saturday. Prime Minister Kevin Rudd has pledged A$6.1B ($5.48) in government subsidies for the car industry through 2020, while opposition leader Tony Abbot, who's leading in the polls, wants to cut A$500M of handouts by 2015.