NEW YORK (Reuters) – General Motors Co GM.UL said on Friday that it had not yet determined a price range for its initial public offering and that it could not say if the IPO would take place in November as widely expected.
The unusual caution came in a filing with the U.S. Securities and Exchange Commission in response to comments this week from Chairman and former Chief Executive Ed Whitacre.
DETROIT (Reuters) – U.S. auto sales slipped in September from August, initial data from major carmakers showed, adding to evidence that the market remains stuck in a slow-motion recovery at the start of the fourth quarter.
DETROIT, Oct 1 (Reuters) – General Motors Co [GM.UL] posted
an annual sales gain of 10.5 percent in September amid evidence
that the U.S. auto market remained stuck in a slow-moving
recovery at the start of the fourth quarter.
GM was the first of the major U.S. automakers to report
sales for the month.
Analysts and industry executives expect auto sales near
11.5 million vehicles on an annualized basis in September,
almost flat from August after adjusting for the typical early
DETROIT (Reuters) – The United Auto Workers union will aim to ensure that its members share in General Motors GM.UL, Ford Motor Co (F.N: Quote, Profile, Research, Stock Buzz) and Chrysler profits in contract talks next year, President Bob King said on Monday.
The union wants the workers to share in the turnarounds at the U.S. automakers in a way that does not put the companies “back in a cycle of uncompetitiveness” that left them struggling in recent years, King said.
DETROIT (Reuters) – Senior officials from the United Auto Workers union will travel to Italy next week for a meeting with Fiat SpA (FIA.MI: Quote, Profile, Research, Stock Buzz) Chief Executive Sergio Marchionne and a pitch to bring jobs to the United States for its suppliers.
UAW President Bob King will tour Fiat plants for a look at the manufacturing system the Italian automaker has begun to introduce at plants operated by its U.S. affiliate Chrysler, King told Reuters in an interview on Monday.
DETROIT/NEW YORK/BEIJING, Sept 17 (Reuters) – General
Motors Co [GM.UL] is moving into a new and more politically
charged phase of preparations for its landmark initial public
China’s top automaker, SAIC Motor Corp (600104.SS: Quote, Profile, Research, Stock Buzz), has
reached out to GM to explore the prospect of taking a stake in
the U.S. automaker when it goes public this fall, four people
with knowledge of the matter said.
DETROIT (Reuters) – General Motors Co GM.UL is determined to pay back taxpayers as quickly as possible, but the process could take “several years,” GM Chief Executive Dan Akerson said on Thursday.
Paying back the government all at once would be “unrealistic,” Akerson said in his first meeting with reporters since becoming CEO two weeks ago.
DETROIT (Reuters) – Toyota Motor Corp will offer a plug-in version of its Prius positioned to be the cheapest green car of its kind by 2012 and could have two electric cars in the U.S. market by that time, executives said on Monday.
In addition, Toyota plans to add six hybrid vehicles to its global lineup by 2012, an increase that would give it a total of 20 models that use batteries and regenerative braking to extend fuel economy like its market-leading Prius.
DETROIT, Sept 13 (Reuters) – Toyota Motor Corp (7203.T: Quote, Profile, Research, Stock Buzz) has
discovered and fixed a bug in the software that reads data from
crash recorders and informed U.S. safety regulators of the
problem in June, executives said on Monday.
The disclosure comes as the world’s largest automaker
battles to distance itself from a series of recalls this year
that damaged its reputation for quality and raised concern
about reports of unintended acceleration in its vehicles.
DETROIT (Reuters) – Automakers posted their weakest U.S. August sales in 27 years, underscoring uncertainty about the strength of the recovery in the world’s largest economy.
Sales dropped 21 percent from the government incentive-fueled boom a year ago. Monthly auto sales data represents one of the first and broadest-based snapshots of consumer demand.