DETROIT, Nov 25 (Reuters) – General Motors Co
investors are focused on the possibility of stock buybacks or a
dividend on common shares now that the U.S government has
outlined its plans to sell the rest of its stake in the No. 1
U.S. automaker by year end, analysts said.
Analysts expect GM next year to buy the rest of its Series A
preferred stock owned by the United Auto Workers healthcare
trust and the Canadian government, and then return cash to
shareholders through a buyback and dividend that will draw more
interest from potential investors.
LOS ANGELES (Reuters) – The United States automotive industry will move into the slow lane in 2014 as fewer buyers replace aging vehicles and growth drops to half this year’s rate, the head of Toyota Motor Corp’s (7203.T: Quote, Profile, Research, Stock Buzz) North American operations said on Wednesday.
While U.S. industry sales are expected to grow by 1 million vehicles to 15.5 million this year, Toyota North American Chief Executive Jim Lentz said he expects the 2014 total to be closer to 16 million.
LOS ANGELES (Reuters) – Volkswagen AG (VOWG_p.DE: Quote, Profile, Research, Stock Buzz) wants the workers at its Tennessee plant represented by a German-style works council, but the final form of representation and whether that includes the United Auto Workers union must be decided by the employees in a formal vote, the automaker’s top U.S. executive said on Wednesday.
“Our strong desire is to have a works council present in Chattanooga,” Jonathan Browning, Volkswagen Group of America’s president and CEO, said in an interview at the Los Angeles Auto Show. “The challenge in a U.S. context is how to bring that into being. That’s obviously the point of discussion in terms of how you actually move forward.”