Home to many a ‘Ring time, as well as one 24-hour FIA GT3 throwdown with as many competitors and fans as it can fit, the Nurburgring has found a new owner in Russian billionaire Viktor Kharitonin.
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Category: High Finance
Should companies in the future need to be bailed-out by the federal government, they may not be so forthcoming with the necessary information if General Motors’ confidential documents linked to its own bailout see the light of day.
General Motors is gearing up to spend $63 million on expanding its Lansing Delta Township plant — home of the GMC Acadia, Buick Enclave and Chevrolet Traverse — as part of an overall $300 million improvement plan involving the automaker’s Michigan properties.
By this time next year, Ferrari will no longer be a part of Fiat Chrysler Automobiles, thanks to a plan announced today that will spin the exotic brand off from the rest of the Italo-American automaker.
Want to own a Model S without worrying about a long-term commitment or how much it’ll hurt your bottom line? CEO Elon Musk has a deal for you.
As of last Friday, 30 fatality and 31 injury claims have been approved for payout from the General Motors victim compensation fund created in the wake of the February 2014 ignition recall, and helmed by the staff of appointed attorney Kenneth Feinberg.
Despite problems with the Russian market, as well as restructuring costs, General Motors says Vauxhall and Opel are on their way out of the red and into the black.
Daimler wasn’t the only to sell its Tesla shares last week, as Toyota has done the same with some of its shares in the company.
Over five years ago, Daimler AG acquired a 9.1 percent interest in Tesla, gaining 1,000 battery packs for its Smart EV in exchange for helping to put the Model S on the road to production.
Wednesday, Daimler sold its remaining 4 percent in the company, netting $780 million for the trouble.
General Motors twice experienced the business end of a leather glove Wednesday, when over 20 million consumers demanded satisfaction via two lawsuits totalling $10 billion in claims over lost resale value as a result of the February 2014 ignition switch recall.
Just how much will Panasonic throw down on the table when it comes time to invest in Tesla’s new Gigafactory near Reno, Nev.? According to CEO Kazuhiro Tsuga, “tens of billions” of yen.
According to National Automobile Dealers Association chair Forrest McConnell, the United States government’s plan to tighten automotive finance regulations amounts to an attempt by said government “to take away the consumer’s right to get a discount.”
The compensation fund created by General Motors to pay claims resulting from injuries and deaths linked to a defective ignition switch found in a handful of 2003 through 2007 compact models has approved a total of 24 death claims for payout.
Warren Buffett — no relation to Jimmy — is a lot of things: investor extraordinaire, railroad magnate, newspaper mogul, hip-hop enthusiast et al. As of last Thursday, however, he picked up a new title: master auto dealer.
The same subprime lending practices in the mortgage industry that fueled the run-up toward the Great Recession have found a new market to infect: used-car auto lending.
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