Thu, Jul. 21, 2:18 PM
- General Motors (GM +1.5%) says it may be forced by U.S. regulators to recall another 4.3M vehicles for potentially defective Takata air bag inflators, although it does not believe there is a safety defect in any of the vehicles.
- GM says in its latest 10-Q filing that such a move would cost $550M, while replacing inflators in the 2.5M vehicles already recalled will cost as much as $320M.
- At least 100M vehicles worldwide with Takata airbag inflators have been declared defective and are linked to 13 deaths and more than 100 injuries.
Thu, Jul. 21, 8:35 AM
- General Motors (NYSE:GM) +4.1% premarket after easily beating Q2 earnings expectations and raising its FY 2016 guidance despite concerns about the financial impact of the U.K.’s decision to leave the European Union.
- GM says Q2 net income more than doubled to a record $2.9B from $1.1B a year ago on 11% higher revenues of $42.4B, with operating margins of 9.3% globally and 12.1% in North America representing post-bankruptcy records, despite relatively flat sales and a decline in U.S. market share.
- GM posted a $137M profit in its European operations, its first quarterly profit in the region since 2011 after losing $45M in the region a year ago, but it warns that the U.K.’s plan to exit the European Union could cost the company $400M in H2.
- Income from China operations was steady at ~$500M, although the 9.5% operating margin for the country was slightly lower than a year ago.
- GM raises its full-year EPS outlook to $5.50-$6.00 from $5.25-$5.75 previously, vs. $5.63 analyst consensus estimate.
Thu, Jul. 21, 7:31 AM
Fri, Jul. 1, 6:11 PM
- A series of record-June announcements from automakers today added up to U.S. auto sales marking an overall record for the first six months of the year.
- Sales were up 1.5% to 8.65M units vs. a year-ago 8.5M. June sales rose 2.5% to make up for a May disappointment.
- Most automakers posted gains -- including Ford Motor (F +1.2%), Fiat Chrysler (FCAU +2%), Nissan (OTCPK:NSANY +0.5%), Honda (HMC -0.8%), Hyundai (OTC:HYMLF) and Subaru (OTCPK:FUJHY -1.7%) -- and many set records. Meanwhile, Volkswagen (OTCPK:VLKAY +3.4%), Toyota (TM -0.4%) and General Motors (GM +2.1%) saw declines.
- Overall sales are starting to flatten out after six years of growth, but low gas prices and interest rates are presaging that automakers can hold this level of success for some time.
Fri, Jul. 1, 9:52 AM
- General Motors (GM +1.7%) June U.S. sales dropped 1.6%, to 255,210 vehicles, slightly worse than industry estimates for a 1.3% drop.
- Retail sales were up more than 1%, and retail share grew by 0.1 points (13 of last 14 months growing retail share).
- Retail sales gains paced by Chevrolet (3%), Buick (2%) and Cadillac (5%).
- Daily rental sales continued to drop as planned (less profitable), down 5,690 vehicles (-22%).
- “Our reduction in daily rental deliveries, disciplined incentive spending and well-managed inventories are showing real benefit in the residual values of our latest launched vehicles," says GM's Kurt McNeil.
Fri, Jun. 17, 9:07 AM
- Shares of Volkswagen (OTCPK:VLKAY) fell this week after the company outlined in broad strokes its EV strategy.
- Though the German automaker called the EV initiative its "biggest change process" in its history, analysts wanted more details. While 30 new EV models are expected over the next ten years, and a target of a 20% to 25% EV mix by 2025 was set by the company, management didn't dive into specifics on production, price points, and driving ranges.
- "There are worthy elements among the plans but it's probably also a marketing exercise by VW to tell the public that they have gotten the message," noted Commerzbank analyst Sascha Gommel.
- "Without any additional details on planned measures as well as on Dieselgate, we stick to our skeptical view on VW," DZ Bank analyst Michael Punzet wrote.
- Other automobile industry watchers think Volkswagen will need to move on its electrification talk rather quickly with the German government backing the EV industry with incentives and the mass-market Chevy Bolt (NYSE:GM) and Model 3 (NASDAQ:TSLA) aiming high. However, a serious disadvantage for Volkswagen in making a significant EV makeover is the high level of representation from labor on the board.
- Volkswagen ADRs are down about 7% for the week.
- Previously: The Germans roll forward with EV plans (June 11)
Tue, May 3, 9:50 AM
- Sales fell off across all of General Motors' (GM -3.3%) brands during April as the automaker lost a bit of market share to peers. The damage was worse with larger passenger cars.
- Sales by brand: Chevrolet -2.3% to 183,442 units; GMC -0.1% to 47,159; Buick -2.8% to 17,720; Cadillac -29% at 11,236.
- Sales by model: Buick Encore +18% to 6,589; Chevrolet Cruze -32% to 14,153; Chevrolet Equinox -29% at 20,607; Chevrolet Silverado-C/K Pickup +9% to 49,990; Chevrolet Spark -18% to 3,082; Chevrolet Sonic -41% to 5,102; Chevrolet Traverse +6% to 12,186; GMC Sierra +14% to 20,531; GMC Yukon +5% to 3,324.
- GM's average transaction price increased 4.6% Y/Y to $38,768 (via Kelley Blue Book).
- Previously: General Motors April U.S. sales: -3.5% (May 3)
Thu, Apr. 21, 7:31 AM
Mon, Apr. 4, 11:37 AM
- Ford (F -2.2%), General Motors (GM -1.9%), and Toyota (TM -2.4%) are all down for a second straight day after overall U.S. sales came in below expectations for March.
- There's also a bit of a Tesla overhang over the major automakers as the weekend's strong tally of Model 3 pre-orders is the one of the first concrete indications that the EV automaker could be a market share disrupter. If even half of Tesla's early round of orders comes to fruition, about $5B in consumer spending on automobiles is going in a different direction than Detroit or Tokyo. Naturally, Tesla enthusiasts think the number will be much higher.
- Daimler (OTCPK:DDAIF -1.4%) and BMW (OTCPK:BAMXY -1.4%) are also weak on the day amid the OEM gloom.
- Now read Tesla Model 3: Existential Crisis For The Auto Industry
Wed, Feb. 24, 10:18 AM
- General Motors (NYSE:GM) is lower after Morgan Stanley reiterates its Underweight rating.
- Analyst Adam Jonas adds some recession risk to the GM model and see some pressure on the company's North American margins if volume declines to a U.S. SAAR of 10M-11M.
- MS is one of the more outspoken firms in the automobile sector and is viewed as favorable-leaning to Tesla ($333 PT) and Uber (special offering to high net-worth clients).
- Shares of GM are down 4.7% to a flat $28 with 5M shares already swapped. The drop is a bit sharper than what's being seen with other major auto stocks today.
Mon, Feb. 22, 10:19 AM
- Shipping stocks are on the move after the large jump in crude oil prices eases some anxiety over demand.
- Notable gainers include Diana Shipping (DSX +12.1%), Navios Maritime Partners (NMM +6.5%), Frontline (FRO +6.6%), and Scorpo Bulkers (SALT +5.9%).
- The trucking sector is also ahead of broad market averages off the oil news. ArcBest (ARCB +4.4%), Swift Transportation (SWFT +1.6%), Celadon Group (CGI +2%), and Knight Transportation (KNX +2.6%) (also upgraded) are on the rise.
- Railroad industry players CSX (CSX +3.8%) and Genesee & Wyoming (GWR +3.7%) are up sharply.
- On the vehicle manufacturing/supplier side, solid gainers include Meritor (MTOR +6.7%), Dana Holding (DAN +2.7%), Westport Innovations (WPRT +3.9%), Oshkosh (OSK +3.8%), Navistar (NAV +5.4%), and PACCAR (PCAR +2.3%).
- The Detroit Three are all in rally mode as well. Ford (NYSE:F) and GM (NYSE:GM) are up 2%, while Fiat Chrysler Automobiles (NYSE:FCAU) is 3.3% higher.
- Previously: Oil prices rebound, WTI heads back above $30 (Feb. 22 2016)
Dec. 9, 2015, 9:53 AM
- The NHTSA proposes adding new safety categories to its ratings systems with an aim to accelerate technology innovation and integration.
- Safety features such as forward collision warnings, blind-spot alerts, lane departure information, and rear cameras would be part of the ratings system under the changes.
- The push from the regulator could help some auto suppliers such as Delphi Automotive (DLPH +1.4%) and Mobileye (MBLY +2.5%), notes the WSJ.
- Autoliv (ALV +2.1%), WABCO Holdings (WBC +1.5%), Borg Warner (BWA +1.3%), and Meritor (MTOR +1.3%) are all ahead of market averages in early action today, perhaps due to the NHTSA strategy reveal.
- Related auto stocks GM, F, TM, HMC, OTCPK:NSANY, OTCQX:VLKAY, OTCPK:DDAIF, OTCPK:BAMXY, TSLA, TTM, OTC:HYMLF.
Nov. 16, 2015, 7:46 AM
- The latest 13F from Berkshire Hathaway (BRK.A, BRK.B) shows a new 59.3M share stake in AT&T (NYSE:T), and the GM stake taken up to 50M shares from 41M. At least part, if not all of the T stake is the result of shares received in the DirecTV merger.
- Phillips 66 (NYSE:PSX) is up to 61.5M shares from about 30M; Kraft Heinz (NASDAQ:KHC) 325.6M shares from zero; Suncor (NYSE:SU) 30M shares from 23.3M, John Malone (LMCK, LMCA) a total of about 24M shares from about 13M.
- Buffett trimmed his Wal-Mart (NYSE:WMT) position to 56.2M shares from 58.3M.
- AT&T +1.4% premarket
Oct. 21, 2015, 10:20 AM
- Automobile stocks are largely higher after General Motors (NYSE:GM) reports record profit for Q3.
- GM is leading the pack with a 4% gain - while Daimler (OTCPK:DDAIF +2.6%), Honda (HMC +2.5%), Toyota (TM +1.7%), Nissan (OTCPK:NSANY +1.6%), Ford (F +0.9%), and BMW (OTCPK:BAMXY +1%) are all ahead of market indexes. Even Volkswagen (OTCQX:VLKAY) is clawing itself back with a 2.1% increase.
- The two laggards are Fiat Chrysler Automobiles FCAU which is down 2.9% and Tesla Motors (TSLA -0.8%). Fiat was hit with a negative EU tax ruling and has the Ferrari (NYSE:RACE) IPO stealing some of its thunder, while Tesla Motors is still stinging from a Consumer Reports jab yesterday.
Sep. 17, 2015, 8:11 AM
- Shares of General Motors (NYSE:GM) are higher in early trading after the company is reported to have worked out a deal with the DOJ on the ignition-switch defect issue.
- The $900M fine that GM is set to be levied is below what some industry watchers expected after Toyota had to pony up $1.2B last year. RBC Capital Markets forecast the settlement amount to be $1.5B. Analyst Joseph Spak says the deal struck is a "slight positive" for the automaker's stock.
- Previously: Reuters: GM to pay $900M to settle ignition switch probe (Sep. 17 2015)
- GM +1.0% premarket to $31.55.
Sep. 1, 2015, 9:36 AM
- General Motors (NYSE:GM) unit sales -0.7% to 272,512 units, a better mark than the wide range of -1% to -3% growth forecast by analysts.
- Retail sales were up 6% during the month.
- Commercial sales and government sales were also higher.
- The automaker ended the month with 63 days supply, compared to 64 days supply a month ago.
- GM -1.36% to $29.03 in early trading.
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
Sector: Consumer Goods
Industry: Auto Manufacturers - Major
Country: United States
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