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GM

General Motors Company

5/18/2013, 9:52 PM ET

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Friday, May 17, 7:18 PM Shares of General Motors (GM +3.1%) eclipsed their $33 IPO price as investors speculate that the U.S. government may soon exit its ownership stake in the auto maker. The auto maker rose to $33.42 to close above its November 2010 IPO price for the first time since February 2011. U.S. taxpayers currently hold a 16.4% stake, or 241.7M shares worth about $8.08B. 4 Comments [Consumer, U.S. Economy]
Friday, May 17, 11:05 AM A nice little jump in consumer sentiment bodes well for automobile companies, according to CNBC's Phil LeBeau. The outlook for the industry looks extremely good with fresh models from automakers (F, GM, TM, FIATY.PK, HMC, NSANY.OB, VLKAY.PK) coinciding with structural pent-up demand and the uptick in sentiment. 4 Comments [Consumer]
Friday, May 17, 10:10 AM China says it will encourage investment in vehicle manufacturing in the western part of the nation to reverse a prior decision on the issue. General Motors (GM +2.5%) and Volkswagen (VLKAY.PK) could benefit from the development due to their aggressive expansion plans in the region. Comment! [Consumer, Global & FX]
Friday, May 17, 7:53 AM China's top safety agency say Shanghai GM (GM) will recall 2.6K Cadillac SRX vehicles for a potential issue with wheel nuts. Shanghai GM is coming off a roaring April as sales rose 29% to 121,559 units - a faster pace than GM's other joint ventures in China. Comment! [Consumer]
Wednesday, May 15, 7:12 AM General Motors (GM) will move production for Opel's Zafira to Ruesselsheim from Bochum in Germany to help clear the path for the closure of another plant. The automaker continues to prod for ways to cut losses on the continent to meet its goal for Opel of being profitable by 2015. Comment! [Consumer]
Tuesday, May 14, 10:40 AM General Motors (GM +1.6%) and Nissan (NSANY.OB) work out a deal that will see Nissan produce small cargo vehicles for GM to sell in the U.S. and Canada. The arrangement appears to be way for GM to fill a void in its commercial fleet business. 1 Comment [Consumer]
Tuesday, May 14, 7:04 AM General Motors (GM) won't chase "volume at all costs" with its Cadillac brand, according to CFO Dan Ammann. While German automakers (DDAIF.PK, BAMXY.PK, VLKAY.PK) start to chase each other in every luxury segment, GM will pick and choose where Cadillac competes. YTD U.S. sales: Mercedes-Benz 98,511; BMW 88,127; Lexus 74,831; Cadillac 55,942; Audi 47,343. 2 Comments [Consumer, Global & FX]
Monday, May 13, 2:33 PM General Motors (GM -1.4%) will invest $546M in two data centers in Michigan in a move designed to help the automaker identify potential manufacturing issues quicker. Over the next three years, GM plans to bring almost all of IT needs in-house and reduce the number of IT facilities to two from 23. 1 Comment [Consumer]
Monday, May 13, 8:44 AM For the first time in more than a decade, the Big Three automakers (GM, F, FIATY.PK) claimed a majority of the category winners in a prestigious vehicle quality survey. The increase in quality by the trio dovetails nicely with a pickup in demand for U.S. models that has Japanese automakers scrambling (TM, HMC, NSANY.OB) to respond. 2 Comments [Consumer, Global & FX]
Monday, May 13, 6:52 AM General Motors (GM) plans to spend $200M to update dealer showrooms and relocate under-performing outlets. The automaker will focus on dealers in California, New York, and New Jersey in particular in a bid to improve market share in metropolitan areas. Execs think the fresh slate of models will be attractive in areas where GM's market share lags some foreign manufacturers. 4 Comments [Consumer]
Friday, May 10, 8:10 AM General Motors (GM) says it will consider more expansion in Indonesia after early reaction to a new model in the nation is positive. The automaker reports 10K orders for its Chevrolet Spin which is twice the numbers of cars it sold in Indonesia all of last year. 1 Comment [Consumer]
Thursday, May 9, 12:39 PM Explosive growth in China's SUV market has automakers scrambling to bring more models to the market to take advantage of the cozy margins offered by the category. What to watch: General Motors (GM -1%), Ford (F), and Chrysler (FIATY.PK) could see the biggest benefit from the hot Chinese SUV market with the automakers already ramping up production while German counterparts Mercedes-Benz (DDAIF.PK), BMW (BAMXY.PK), and Audi (VLKAY.PK) are stuck in a lower gear. 3 Comments [Consumer, Global & FX]
Tuesday, May 7, 2:24 PM General Motors (GM -0.5%) will expand warranty coverage for certified pre-owned Cadillac vehicles. Execs says the move will make the coverage more comprehensive than what rivals Lexus, BMW, and Mercedes-Benz offer and follows a little cutting-edge warranty news from Tesla Motors which also sells to high-end buyers. The automaker is clearly doing something right with its Cadillac brand, sales are up 37% YTD over last year's mark. Comment! [Consumer]
Tuesday, May 7, 7:22 AM General Motors (GM) says it will recall 38,197 Chevrolet Malibu Eco, Buick LaCrosse, and Buick Regal sedans to deal with issues with their hybrid powertrains. To date, recalls of hybrid vehicles haven't been running at a higher percentage than recalls for purely gas-powered cars. Comment! [Consumer]
Monday, May 6, 3:28 PM Behind perennial leaders GM, Exxon (XOM) and Wal-Mart (WMT) at the top of the Fortune 500 list is a new no. 4, Phillips 66 (PSX). Spinoffs such as PSX have become a favorite of investors who prefer focused companies to diversified ones, The Economist writes; of the 80 U.S. spinoffs worth at least $500M each during 2002-12, the parent companies have returned 35% while spun entities have delivered 70%. Comment! [Energy]
Monday, May 6, 12:33 PM The Treasury says it will begin selling off the rest of its stake in General Motors (GM -0.2%). In a statement, assistant secretary for financial stability Tim Massad says the department is ready to exit the investment "in accordance with [its] previously announced timetable." (Reuters) Comment!

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