“YES!!!!!!!”
That was the first comment from the acolytes of the recently a bit depressed fansite Saabsunited, when it was announced that Victor Muller’s Spyker sued GM for $3 billion over Saab’s bankruptcy.
“It’s hard to believe. We have no comment until we see the lawsuit,” said GM spokesman James Cain to Reuters. The complaint is attached to this message. (Read More…)
Nate writes:
Ok, you asked for input and I’ve got a question about my 2003 Cadillac CTS. I figure I’m more likely to get a reliable answer from you and the best & brightest of TTAC than the goof balls at Car Talk (this letter is from February-SM), so I’ll ask. (Read More…)
When GM bought seven percent of the moribund PSA Peugeot Citroen five months ago, the happy couple praised monstrous synergies and annual cost savings of $2 billion a year coming from the – ahem – tie-up. Hope springs eternal, but currently, the value of this dubious investment is deflating faster than a popped balloon. Even GM is realizing it and tells the Treasury that it may have to write down that investment if things don’t get better soon.
The ever so vigilant Reuters actually went to the trouble of reading the complete 10-Q GM filed with the SEC in connection with GM’s recent quarterly report. In that filing, GM says: (Read More…)
Devotees of the Manchester United soccer club call for a boycott of the products made by the club’s sponsors. This famously includes Chevrolet. Last Monday, GM signed a seven year contract with Manchester United. A day before, GM’s Chief Marketing Executive Joel Ewanick, the architect of the deal, was fired. Manchester United supporters are opposed to their club going public on Wall Street. To put pressure on the Glazer family to ditch the plan, they ask the public to stay clear of the products of the club’s sponsors. (Read More…)
Toyota today published its revised production and sales plan for the calendar year 2012. The plan calls for slightly more than 10 million units produced globally by all Toyota Motor Corporation companies. If this plan is executed, Toyota will be the world’s first automaker to break the 10 million unit sound barrier. Based on its half year results, Toyota was already above plan before the plan was published. (Read More…)
GM posted better quarterly numbers today than analysts expected. Instead of jumping on the news, the GM share is down at the time of this typing? Why? Analysts and financial reporters quickly caught on to an old trick that has an air of despair: GM delayed spending into the next quarter. Says Reuters: (Read More…)
What’s up this month at GM? Inventories of full-size trucks. What’s not? Sales of full-size trucks.
This makes Hugo Chavez happy: GM wants to more than double its production in the Caribbean worker’s paradise of Venezuela. At least that’s what Chavez told Reuters: (Read More…)
Toyota has decided to increase global production this year by about 300,000 units, The Nikkei [sub] reports, as usual for the Nikkei without quoting sources. If this is true, then it would bring global production numbers for Toyota and Lexus close to 9 million for the year. With Daihatsu and Hino, that number would be around 10 million. That is too high for GM to reach. (Read More…)
How strange that on a day full of Joel Ewanick related news, an old face pops up at a crosstown rival.
If this feels like the Manchester United and Ewanick day, so be it. If we’d pass up these morsels, we’d be accused of selective reporting. As a result of the torrent of leaks, we are now led to believe that the Manchester deal is what the Business Insider calls “one of the biggest marketing contractual screwups of all times.”
While bloggers and the MSM are gobbling up the red herrings served by the deep throats at GM, some people are connecting the dots. They even drew a map. If you are concerned about U.S. taxpayer’s money leaving for Old Blighty, you want to read on. Don’t do it on an empty stomach. Or maybe do. You will want to puke. (Read More…)
Forget the cascade of poor reviews that have apparently hampered the 2013 Chevrolet Malibu Eco; the biggest detriment to the new car’s success might be the outgoing model, and the steep discounts being offered on the 2012 ‘Bu.
One day after GM’s Chief Marketing Executive Joel Ewanick was fired for failing ” to meet the expectations that the company has for its employees,” one day after it was leaked like from a fire hose that there were shady going ons between Ewanick and the Manchester United soccer club, GM signed a seven year contract with just the same soccer club. A day after the ouster of a marketing chief who was tasked with saving billions, GM paid, according to Reuters, “twice as much as the team’s previous automotive sponsor” for putting “Chevrolet” on the team’s jerseys. Does this pass the smell test? (Read More…)
Panic at RenCen. It’s not that people are leaving GM. It’s how they leave. Two weeks ago, Opel chief Karl-Friedrich Stracke presented numbers to Dan Akerson. Akerson fires him. Opel gets two interim chiefs in a week. Last Thursday, Opel’s new design chief Dave Lyon doesn’t even start his job. Today, media in the U.S. and Germany report that Lyon had been escorted from the building and to a waiting car by GM’s head of personnel. A day later, global marketing chief Joel Ewanick suddenly leaves. Instead of wishing him all the best for his future endeavors, GM spokesman Greg Martin puts a knife in Ewanick’s back: “He failed to meet the expectations the company has of an employee.” (Read More…)
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