Joe's Feed
Mar 11, 2015

Hyundai Motor plans to boost U.S. capacity as SUV sales rise: sources

DETROIT/SEOUL (Reuters) – Hyundai Motor Co (005380.KS: Quote, Profile, Research, Stock Buzz) plans to expand its U.S. factory, three people familiar with the matter said, hoping to ramp up production of sport utility vehicles (SUVs) as lower oil prices boost demand for gas-guzzling trucks.

Sales of the South Korean automaker’s sedans like the Elantra and Sonata are slowing in the United States as consumers take advantage of lower fuel prices to switch to bigger, less fuel-efficient SUVs.

Mar 9, 2015

GM’s Barra bets she can deliver where predecessors fell short

DETROIT (Reuters) – General Motors Co (GM.N: Quote, Profile, Research, Stock Buzz) Chief Executive Officer Mary Barra’s deal on Monday to return up to $10 billion to investors is a career-defining bet that she can reverse the automaker’s history of doubling down on money-losing products and failed expansion strategies.

The linchpin of the strategy GM outlined to buy back $5 billion worth of shares and distribute another $5 billion in dividends to shareholders by the end of 2016 is a vow that the company will generate 20 percent or better returns on cash invested in new vehicles, advanced technology and other capital projects.

Mar 9, 2015

Analysis – GM’s Barra bets she can deliver where predecessors fell short

DETROIT (Reuters) – General Motors Co (GM.N: Quote, Profile, Research) Chief Executive Officer Mary Barra’s deal on Monday to return up to $10 billion to investors is a career-defining bet that she can reverse the automaker’s history of doubling down on money-losing products and failed expansion strategies.

The linchpin of the strategy GM outlined to buy back $5 billion worth of shares and distribute another $5 billion in dividends to shareholders by the end of 2016 is a vow that the company will generate 20 percent or better returns on cash invested in new vehicles, advanced technology and other capital projects.

Mar 9, 2015

GM plans $5 billion share buyback, averts proxy fight

DETROIT (Reuters) – General Motors Co. said Monday it would launch a new, $5 billion (3.3 billion pounds) share buyback in an agreement with dissident investors, and put forward a more detailed plan for capital allocation that promises investors the potential for further cash returns.

GM said it had reached a deal with an investor group that averts a proxy fight over its balance sheet and governance. As part of the agreement, investor Harry Wilson will drop his effort to get a seat on GM’s board.

Mar 9, 2015

GM plans $5 billion share buyback, agrees deal to avert proxy fight

DETROIT, March 9 (Reuters) – General Motors Co. said Monday
it would launch a new, $5 billion share buyback, and put forward
a more detailed plan for capital allocation that promises
investors the potential for further cash returns.

GM said it had reached a deal with an investor group that
averts a proxy fight over its balance sheet and governance. As
part of the agreement, investor Harry Wilson will drop his
effort to get a seat on GM’s board.

Mar 9, 2015

GM expected to announce share buyback: sources

By Joe White

(Reuters) – General Motors Co.(GM.N: Quote, Profile, Research, Stock Buzz) is expected to announce later on Monday plans to repurchases shares, responding to pressure from a group of hedge funds to return more cash to investors.

GM is expected to disclose details of the repurchase later this morning, according to two people familiar with the coming announcement.

Feb 9, 2015

Automakers lag in protecting security, privacy of cars: Markey report

By Joe White

(Reuters) – The spread of technology connecting vehicles to the Internet is outpacing efforts by the auto industry and government to protect vehicles from hackers, and raising concerns about data privacy, according to a report by staff for U.S. Senator Ed Markey.

The report, based on responses by 16 automakers to questions posed by the Massachusetts Democrat, concludes that while nearly 100 percent of new vehicles on the market contain some kind of wireless communications technology, security measures to prevent hacking of vehicle electronics are “inconsistent and haphazard” across the industry.

Feb 5, 2015

Ford completes 2.3 billion euro investment in Spanish car plant

MADRID/DETROIT, Feb 5 (Reuters) – U.S. car manufacturer Ford
announced on Thursday the final part of a 2.3 billion euro
($2.6 billion) expansion of its operations in Spain, in what it
called the biggest ever investment in the country’s auto
industry.

The investment consists of an initial 1.1 billion euros
announced in 2011, followed by another 1.2 billion euros since
2013, Ford said.

Feb 4, 2015

Carmakers eye engineering firm, ex-regulator for Takata airbag probe

DETROIT, Feb 4 (Reuters) – A consortium of 10 automakers led
by Toyota Motor Corp plans to hire an independent engineering
firm and a former top U.S. auto safety regulator to investigate
a rash of problems with air bags supplied by Japan’s Takata Corp
, the group said on Wednesday.

The carmakers want a forensic engineering firm “to address
the technical issues with Takata air bag inflators,” Toyota
spokeswoman Julie Hamp said in a statement on behalf of the
group, which refers to itself as the joint initiative.

Feb 1, 2015

U.S. regulators recall 2.1 million vehicles in new air bag issue

Jan 31 (Reuters) – The auto industry’s air bag troubles
deepened on Saturday as U.S. federal safety regulators said
three big automakers will recall about 2.1 million older
vehicles to fix defects that could cause air bags to deploy when
they are not supposed to.

The vehicles involved in the recall announced by the U.S.
National Highway Traffic Safety Administration are made by
Toyota Motor Corp, Fiat Chrysler Automobiles NV
and Honda Motor Co.