General Motors Company (GM) - NYSE
  • Mar. 12, 2014, 3:09 AM
    • The Department of Justice is reportedly investigating General Motors (GM) over whether the company is criminally liable for its failure to properly disclose the problems with ignition switches that have been linked to the deaths of 13 people and which prompted the firm to recall 1.6M vehicles.
    • The federal probe adds to investigations in the House, and by the National Highway Traffic Safety Administration and GM itself.
    • Previous
    | Mar. 12, 2014, 3:09 AM | 7 Comments
  • Mar. 11, 2014, 6:54 AM
    • The stakes are high for General Motors (GM) when execs get interviewed in front of the House Energy and Commerce Committee, notes 24/7 Wall St.
    • The automaker faces the risk that Congress or the courts could find gross negligence on the part of the automaker in a development that could add billions to its legal costs eventually.
    • A prolonged recall investigation could also dent sales if consumers question GM's safety record.
    | Mar. 11, 2014, 6:54 AM | 8 Comments
  • Mar. 11, 2014, 2:55 AM
    • GM (GM) is set to face hearings in Congress about why the company took almost a decade to recall 1.6M vehicles for defective ignition switches that have been linked to 13 deaths.
    • A panel, the House Energy & Commerce Committee, will also probe the role of the National Highway Traffic Safety Administration.
    • GM yesterday appointed former Lehman examiner Anton Valuskas to lead its own internal investigation, while the NHTSA is also carrying out an inquiry.
    | Mar. 11, 2014, 2:55 AM
  • Mar. 10, 2014, 12:36 PM
    • General Motors (GM -1.9%) selects Anton Valuskas to lead an internal investigation into how the automaker handled a recall tied to ignition swich issues.
    • Valuskas is well-known after being the DOJ-appointed examiner of the Lehman collapse.
    • The recall issue has been one of the biggest tests of Mary Barra's short tenure atop GM.
    | Mar. 10, 2014, 12:36 PM | 1 Comment
  • Mar. 9, 2014, 4:37 AM
    • The National Highway Traffic Safety Administration received over 260 complaints about GM's (GM) faulty ignition switches but declined to investigate, an NYT analysis shows. The agency has said that it didn't act because there wasn't enough evidence to show that the problem existed beyond isolated incidents.
    • GM has said that the defect, which can shut down a car's engine and power system, and disable airbags, is linked to 13 deaths. The company has recalled over 1.6M vehicles because of the problem.
    • Meanwhile, the WSJ looks at how GM's "bureaucratic complexity" hampered the firm's inability to address the fault much earlier.
    • "Ross Perot once said that where he came from, if you see a snake, you kill it. But at General Motors, if you see a snake, you hire a consultant on snakes, then you form a committee on snakes, and then you discuss it for a couple of years," the WSJ writes. Perot made the comment over 25 years ago, "but he could have said it yesterday."
    | Mar. 9, 2014, 4:37 AM | 11 Comments
  • Mar. 6, 2014, 7:41 AM
    • Ford (F) appears to have won the month of February over General Motors (GM) in the truck segment.
    • Steady demand for the F-Series helped Ford land 34% of truck sales, while GM dropped three percentage points to 22.5%.
    • Incentives from Ford on popular truck lines were lower as well. Autodata reports that the average discount on a Chevrolet Silverado rose $500 M/M to $4,218 - compared to the $2,835 that Ford offered to potential F-Series buyers.
    | Mar. 6, 2014, 7:41 AM | 3 Comments
  • Mar. 5, 2014, 2:36 PM
    • The NHTSA wants General Motors (GM +1.7%) to turn over documents relating to what it knew and when in regard to issues with an ignition problem.
    • The automaker disclosed previously it had some information relating to the ignition matter over a decade before a major recall was initiated.
    • Earlier today, GM CEO Mary Barra played a little defense on the issue.
    | Mar. 5, 2014, 2:36 PM | 1 Comment
  • Mar. 5, 2014, 11:28 AM
    • General Motors (GM +2.3%) reports sales in China rose 20% Y/Y to 215,070.
    • Sales of Wuling minivans were up 32% in the month.
    • Cadillac saw sales growth of 91% as the brand continues to get pushed in China by GM. The automaker wants to reach a sales level of 100K vehicles per year in 2015.
    | Mar. 5, 2014, 11:28 AM
  • Mar. 5, 2014, 7:01 AM
    • General Motors (GM) says it will investigate how it handled an ignition switch recall in the U.S.
    • The automaker faces a potential fine of as much as $35M on the issue.
    • CEO Mary Barra doesn't think the major recall of  the1.6M vehicles will affect sales on current models.
    | Mar. 5, 2014, 7:01 AM | 1 Comment
  • Mar. 4, 2014, 1:53 PM
    • The overall tone at the Geneva Motor Show is positive as sales patterns in Europe have stabilized and even shown some pockets of strength. Perhaps the biggest question is if the sales gains are organic or the results of heavy discounting? Autohaus PulsSchlag reports price cuts of at least 10% at most major manufacturers.
    • European automakers are downplaying the impact on sales in Russia from the ongoing conflict in Ukraine. Russia is Europe's second largest automobile market and is expected to pass Germany within a few years.
    • Jeep unveiled its all-new 2015 Renegade compact crossover SUV. The model is unique in that it will feature seven different engine choices tailored to different global markets.
    • BMW announced plans to build over ten new smaller models on its latest platform. The Mini Clubman concept has created a stir with analysts.
    • New models from Ferrari, Lamborghini, and Maserati show that the ultra-wealthy haven't been forgotten by automakers at the show.
    • Related stocks: GM, F, TM, FIATY, HMC, NSANY, TSLA, VLKAY, DDAIF, HYMLF, BAMXY, MMTOF, PEUGF, RNSDF, TTM, SZKMY, FUJHY, RNSDF.
    | Mar. 4, 2014, 1:53 PM | 2 Comments
  • Mar. 4, 2014, 9:21 AM
    • Ford (F) COO Mark Fields issues a warning at the Geneva Motor Show on the pace of investment by the industry in the BRIC nations.
    • Global automakers may have built up too much capacity in emerging markets as regions such as India and Brazil continue to disappoint, notes Fields.
    • Another factor is the recent turmoil in the Ukraine which could hurt auto sales in Russia after interest rates in the nation saw a sudden hike.
    • The view of the heir apparent at Ford lines up with research by KPMG which indicates that by 2016 the global automotive market will have built up 20%-30% excess capacity.
    • Related stocks: Tata Motors (TTM), General Motors (GM), Renault (RNSDF), Nissan (NSANY), Volkswagen (VLKAY), Toyota (TM).
    | Mar. 4, 2014, 9:21 AM | 1 Comment
  • Mar. 3, 2014, 9:47 AM
    • General Motors (GM +0.4%) reports that it saw some late-month momentum as deliveries outpaced what analysts forecast for the weather-influenced month.
    • Notable model tallies: Buick Encore +92.7% to 3,078; Cadillac SRX +23.1% to 5,058; Chevrolet Silverado-C/K Pickup -12.1% to 36,584; Chevrolet Cruze +21.7% to 21,836.
    • The fleet segment accounted for 25.1% of sales during the month, up 70 bps M/M.
    • GM notes that a mid-month estimate showed the average transaction prices for its full-size pickups were in-line with last month's levels.
    • The automaker ended the month with 87 days supply, an improvement over the 114 days supply it held at the end of January.
    | Mar. 3, 2014, 9:47 AM | 4 Comments
  • Mar. 3, 2014, 9:39 AM
    • General Motors (GM) unit sales -0.9% to 222K. The drop isn't as severe as the 7.7% decline forecast by analysts.
    • Retail and fleet sales were both down 1% during the month.
    • Sales by brand: Chevrolet -2.9%; GMC -0.6%; Buick 18.8%; Cadillac -2.9%.
    | Mar. 3, 2014, 9:39 AM | 2 Comments
  • Feb. 28, 2014, 12:36 PM
    • Deutsche Bank weighs in on General Motors (GM -0.9%) amid reports the automaker has increased discounts on its trucks.
    • The investment firm says the move feeds into its concern that GM's newest lines haven't been as successful as expected and that the discounting cadence could continue
    • What to watch: GM still has several high-profile pickup and SUV launches this quarter which could stem any erosion in profits if they go off well.
    | Feb. 28, 2014, 12:36 PM
  • Feb. 28, 2014, 8:33 AM
    • General Motors (GM) and Ford (F) have increased their level of discounting in order to drive traffic into showrooms, according to Reuters.
    • A scan of online deals shows the competitive full-size pickup market is seeing some of the more lush deals for consumers.
    • What to watch: Though the relentless string of wintry weather and growing inventory has the industry edgy, overall pricing for February could still come in level with a year ago. March and April could be the months that slimmer profits for GM and Ford unless pent-up demand is unleashed.
    | Feb. 28, 2014, 8:33 AM | 1 Comment
  • Feb. 27, 2014, 3:59 PM
    • New U.S. auto sales are expected to rise just 0.8% Y/Y in February, according to Edmunds.com, which expects to be hampered by poor winter weather for the second month in a row.
    • Edumnds estimates 1.2M new cars and trucks will be sold in the U.S. in February, up from slightly less than 1.2M a year ago and improving from January's total.
    • Among major auto makers, roughly 5% sales declines are projected for GM and Ford (F), with more modest sales drops seen at Toyota (TM) and Honda (HMC); Fiat Chrysler (FIATY) and Nissan (NSANY) are likely report double-digit sales increases, and Hyundai (HYMLF) sales are expected to rise 2%.
    | Feb. 27, 2014, 3:59 PM | 2 Comments
Company Description
General Motors Co. engages in the business of design, manufacturing and sale of cars, trucks and automobile parts worldwide. It operates through four segments: GM North America, GM Europe, GM International Operations and GM South America. The GM North America segment sells vehicles under the... More
Industry: Auto Manufacturers - Major
Country: United States