GM’s stock is still considered a “Buy” in the eyes of much of Wall Street, but analysts say that more changes are needed to accelerate the pace of growth in the post-Bailout era.
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The first Chevrolet Corvette C7 will roll off the company’s Bowling Green, Kentucky assembly line on June 30th, 2013 – 60 years to the day after the first Corvette was built. Or at least that’s what Reuters is reporting, based on supplier information.
The Opel/Vauxhall Cascada got a surprisingly warm reception on TTAC, considering that it’s a ragtop with humble origins based on the Delta II platform (thank you, readers, for correcting my mistake).
Are you planning a vacation to Portugal, Spain, Italy or a similarly depressed Eurozone country in the next year or so, you’ll have another choice for topless motoring on your way to the topless beaches.
“It’s too early to say for sure whether GM will purchase the controlling stake in HKJV, and thereby regain full control of its India business. It is unlikely that SAIC will relinquish its grip on India, just because it suddenly can’t service the capital requirements of the HKJV. Possibly, more information will become available when GM files its Q3 paperwork, or possibly later.”
As it turns out, they did.
GM’s Detroit-Hamtramck plant will get a $35 million investment to build the Cadillac ELR, a luxury coupe that uses the Chevrolet Volt’s gasoline-electric drivetrain.
Reuters reports that battery maker A123 Systems is filing to bankruptcy protection in Delaware.
Ratings firm Fitch released a memo Tuesday outlining some possible problems relating to the proposed GM-PSA merger.
Reports out of the Ren Cen state that departed Chief Marketing Officer Joel Ewanick’s position won’t be filled. Instead, CEO Dan Akerson will delegate those responsibilities to the global heads of Chevrolet and Cadillac.
Chevrolet is betting that the number 13 will be lucky one. The GM brand announced on Wednesday that they will be introducing 13 redesigned or completely new vehicles for the North American market in 2013. While a number of those are expected, like the new Impala and the latest iteration of the Silverado fullsize body-on-frame pickup, according to GM spokesman Michael Albano the automaker is “thrilled” that two of the thirteen cars and trucks will be “complete surprises”. Joining the Impala and Silverado, among the non-surprises there’s going be a new Traverse CUV, a diesel Cruze and an electric Spark (sorry, I didn’t name the car).
“13 is a big year for Chevrolet. You know some of them. There’s a lot of chatter about others and a couple will be complete surprises, which we’re thrilled about.”
A couple of weeks ago the Wall Street Journal published an article about a “little-noticed” lawsuit in U.S. Bankruptcy Court filed by a trust representing “old” GM’s unsecured creditors. Those creditors are challenging a 2009 deal between GM Canada and a group of hedge funds that helped keep GM’s Canadian subsidiary out of its own bankrupcy. It’s a bit surprising to me that the WSJ article itself got very little notice in the automotive world because, if successful, the lawsuit could undo at least part of GM’s restructuring or result in a $1.3 billion price tag for the automaker. In regulatory filings GM has said its possible exposure will be less than that, $918 million, though in theory the bankruptcy court could reopen the entire bankruptcy, which would be much more disruptive to GM than just paying out a billion dollars.
Shares of General Motors held by the Canadian federal government and the government of Ontario may have difficulty unloading their $9 billion stake in General Motors, according to a report by Bloomberg.
Good news for Canada’s manufacturing sector; GM has confirmed plans to add a third shift to the Oshawa Flex Line to help meet demand for the 2014 Chevrolet Impala.
The days of the six passenger sedan are officially over; with the death of the current generation Chevrolet Impala, the front bench seat is now gone from the North American marketplace.
The CAW and General Motors have reached a tentative agreement, sticking closely to the “pattern” set by negotiations between Ford and the CAW.
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