GM Reports Sales In August Were Up

 - GM Reports Sales In August Were Up



Sep 1, 2011

General Motors (NYSE:GM) reported that U.S. August sales were up to 18% to 218,479 units.

The company also said that the month-end dealer inventory in the United States was 556,884 units, including 212,520 full-size pick up trucks and it's on track to meet its target of ending 2011 with a full-size pick up inventory of 200,000 units.

General Motors (NYSE:GM) has a potential upside of 75.6% based on a current price of $23.41 and an average consensus analyst price target of $41.12.

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GM and LG to Jointly Develop Electric Vehicles

- GM and LG to Jointly Develop Electric Vehicles



Aug 25, 2011

General Motors and LG Group will join forces in design and engineer future electric vehicles, expanding a relationship built on LG's work as the battery cell supplier for the Chevrolet Volt and Opel Ampera extended-range electric vehicles.

The definitive agreement will assist GM expand the number and types of electric vehicles it makes and sells by using LG's proven expertise in batteries and other systems.

Timing of the launch of the first vehicles resulting from the partnership will be announced closer to market readiness. The agreement does not involve an exchange of equity between the companies.

General Motors (NYSE:GM) has a potential upside of 85.6% based on a current price of $22.3 and an average consensus analyst price target of $41.38.

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General Motors Recalling 15,000 Buick LaCrosse, Chevy Impala

- General Motors Recalling 15,000 Buick LaCrosse, Chevy Impala



Aug 12, 2011

The Detroit News reported that General Motors (NYSE:GM) is set to recall about 15,000 new Buick LaCrosse and Chevy Impala models in North America.

The recalls will reprogram software in some LaCrosse vehicles and inspect power steering hoses in Impalas.

General Motors (NYSE:GM) has a potential upside of 64.4% based on a current price of $26.3 and an average consensus analyst price target of $43.25.

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GM Confirms A123 Systems Awarded Contract For Future Batteries

- GM Confirms A123 Systems Awarded Contract For Future Batteries



Aug 11, 2011

GM (NYSE:GM) announced today that the company has awarded a production contract to A123 Systems (NASDAQ:AONE) for batteries to be used in future GM electric vehicles to be sold in global markets.

Micky Bly, an executive director at GM said, "GM is committed to offering a full line of electrified vehicles - each of which calls for different battery specifications. We work with a variety of battery developers and A123's advanced Nanophosphate lithium ion technology offers ideal performance capabilities for a future electrified vehicle application."

The specific vehicles and brands will be announced at a later date.

This contract win is being attributed as a driver of A123's stock move, with shares up about 42% so far today.

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GM Plans To Halve The Number Of Vehicle Frames

- GM Plans To Halve The Number Of Vehicle Frames



Aug 9, 2011

General Motors (NYSE:GM) plans to be leaner in the future by halving the number of car and truck frames its uses worldwide.

The company also says it plans to increase factory capacity 45% in Brazil, Russia, India and China by 2014 to take advantage of growth.

GM made the statements Tuesday in slide presentations for its annual global business conference for industry analysts.

The slides say that GM built cars and trucks on 30 specific frames last year. That number would be cut to 14 by 2018, saving on engineering, design and manufacturing costs.

The company also plans to keep its investment in research and development steady, even when car sales are down. That will save money by terminating the practice of stopping and starting projects.

General Motors has a potential upside of 71.6% based on a current price of $25.21 and an average consensus analyst price target of $43.25.

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GM Topped Estimates For Q2, Rose 18.7% YoY

- GM Topped Estimates For Q2, Rose 18.7% YoY



Aug 4, 2011

General Motors (NYSE:GM) reported adjusted Q2 EPS of $1.54, better than analyst estimates of a $1.20 per share. Revenues for the quarter rose 18.7% year-over-year to $39.40 billion, topping consensus estimates of $36.71 billion.

GM Chairman and CEO Dan Akerson said in a statement, "GM's investments in fuel economy, design and quality are paying off around the world."

General Motors (NYSE:GM) has a potential upside of 59.9% based on a current price of $27.17 and an average consensus analyst price target of $43.45.

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GM July Sales Rise 8%

- GM July Sales Rise 8%



Aug 2, 2011

General Motors Company (NYSE:GM) says its U.S. sales climbed almost 8% last month, led by fuel-efficient vehicles such as the Chevrolet Cruze car.

But GM's increase may not be the standard. Analysts foretell that sales of new cars and light trucks in the U.S. rose slightly from a year earlier as few deals and economic worries kept car shoppers home.

Vice President of Sales Don Johnson reports that unemployment, low consumer confidence and uncertainty over the federal debt ceiling scared some buyers off.

GM sold 214,915 vehicles in July, including almost 25,000 Cruzes. That could potentially make it America's top-selling car for the second straight month.

Sales of the Chevrolet Equinox and GMC Terrain small crossovers rose nearly 80%.

General Motors has a potential upside of 56.8% based on a current price of $27.71 and an average consensus analyst price target of $43.45.

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General Motors Starts Sonic Production at Orion plant

- General Motors Starts Sonic Production at Orion plant



Aug 1, 2011

The Detroit News reported that General Motors (NYSE:GM) has begun production of the Chevrolet Sonic at its Orion Assembly Plant. The company's executive director for global and North American Manufacturing Engineering made the announcement today.

Ken Knight, executive director for global and North America Manufacturing Engineering for GM, said "We started our regular production today -- two-and-a-half hours ago. Since, my phone hasn't rung off the hook. I think we are doing well."

General Motors (NYSE:GM) has a potential upside of 56.3% based on a current price of $27.81 and an average consensus analyst price target of $43.45.

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General Motors Invests in $129 Million in Ohio, Indiana and Michigan Plants

- General Motors Invests in $129 Million in Ohio, Indiana and Michigan Plants



Jul 12, 2011

General Motors (NYSE:GM) announced Powertrain plants in Ohio and Indiana that make transmissions for Buick and Chevrolet car models with e-Assist fuel saving technology will get the bulk of a $129M investment.

Cathy Clegg, GM vice president of labor relations said, "GM continually assesses its product offerings and makes adjustments to meet consumer demand. GM is moving quickly to get more fuel-efficient technologies into our vehicles to benefit the consumer, and these investments are an example of the speed with which we are responding."

The money is part of $2B being invested in 17 facilities in eight states over the next 18 months and will generate or retain 4,000 jobs.

At the plans in Toledo, Ohio and Bedford, Indiana, it is a second helping of investment since last May, bringing the total investment of the plants to $287M and $81M respectively.

General Motors has a potential upside of 41.6% based on a current price of $30.76 and an average consensus analyst price target of $43.55.

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General Motors to Sell Diesel Version of Chevy Cruze

- General Motors to Sell Diesel Version of Chevy Cruze



Jul 11, 2011

The Associated Press announced that General Motors (NYSE:GM) plans to sell a diesel version of the Chevy Cruze in the United States.

After selling about 25,000 Cruzes in June, the car model past recurrent leaders such as the Toyota Camry and Honda Accord to become the best-selling car in the U.S.

The diesel Cruze won't hit showrooms until at least 2013, according to one of the people, both of who asked not to be identified because the company hasn't made a formal announcement.

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GM to Offer Free Auto Insurance to Oregon and Washington Residents

- GM to Offer Free Auto Insurance to Oregon and Washington Residents



Jul 8, 2011

General Motors (NYSE:GM) plans to offer free auto insurance though MetLife (NYSE:MET) for one year to residents of Washington and Oregon who buy or lease a GM vehicle through September 6, according to Automotive News. GM is using the program as a test a new sales promotion.

General Motors has a potential upside of 38.7% based on a current price of $31.4 and an average consensus analyst price target of $43.55.

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General Motors June Sales Improve 11% In The U.S.

- General Motors June Sales Improve 11% In The U.S.



Jul 1, 2011

General Motors (NYSE:GM) dealers in the United States reported 215,358 total sales in June, an 11% gain compared to June 2010. The company said the achievement was the result of continued solid retail demand for the company's wide selection of fuel-efficient vehicles. Retail sales for GM's brands rose 16% for the month, compared to a year ago, and were 4% higher than May

Don Johnson, vice president, U.S. Sales Operations said, "With continued strong consumer demand for GM's fuel-efficient vehicles, June was another solid month for us. The month caps a successful first half of 2011 for us in the U.S. market - our sales are up and we've gained share profitably."

During the first half of 2011, GM dealers in the United States detailed that 1,261,633 vehicles were sold.

General Motors (NYSE:GM) has a potential upside of 43.2% based on a current price of $30.4 and an average consensus analyst price target of $43.55.

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General Motors Says Cars Will Reach Highest Percent of Chevy Sales Since 1991

- General Motors Says Cars Will Reach Highest Percent of Chevy Sales Since 1991



Jun 30, 2011

General Motors (NYSE:GM) said Chevrolet's total sales are expected to increase 15% during the first half of 2011, driven primarily by cars, which are approaching their highest level of Chevy sales in 20 years.

Chevy car sales are projected to be up 23% for the first six months of the year when June sales are reported on Friday.

Truck utilities, and crossovers are expected to be up 9% over the first half of 2010.

Chevy cars have outsold sales of trucks, crossovers, and utilities in the months of April, May, and June this year, and are expected to represent 47% of total sales for the 6 month period. That's the most since 1991, when cars were 52% of all sales.

Alan Batey, U.S. vice president, Chevrolet Sales and Service said, "Chevrolet has always been known for building great trucks. Today, we are in the middle of transforming the brand with a strong lineup of cars that match the appeal of our trucks and crossovers.

Shares of General Motors are trading up 0.2% at $30.36.

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General Motors Hires Jack Morton As New Ad Agency

- General Motors Hires Jack Morton As New Ad Agency



Jun 16, 2011

General Motors Co. (NYSE:GM) hired ad agency Jack Morton Thursday. Jack Morton, a unit of Interpublic Group of Cos. (NYSE:IPG) will move its offices to downtown Detroit to be closer to GM's headquarters. They are currently located in Troy, Michigan.

General Motors has a potential upside of 48% based on a current price of $28.95 and an average consensus analyst price target of $42.85. The company is currently below its 50-day moving average (MA) of $30.88 and below its 200-day MA of $33.40.

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General Motors Recalling 47,401 Cadillac SRX vehicles

- General Motors Recalling 47,401 Cadillac SRX vehicles



Jun 10, 2011

General Motors (NYSE:GM) is recalling certain 2011 Cadillac SRX vehicles for failing to conform to the requirements of Motor Vehicle Safety Standard 208, "occupant crash protection." A program in the aribag system may result in the right rear occupant not being protected in certain frontal and side crashes. GM dealers will reprogram the module free of charge. The recall is expected to begin on or about June 17.

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General Motors Invests $49 Mln on Bedford Powertrain Facility

- General Motors Invests $49 Mln on Bedford Powertrain Facility



Jun 8, 2011

General Motors (NYSE:GM) announced an investment of $49 mln on its Bedford powertrain plant in order to acquire tooling and equipment towards creating components for its announced 8-speed transmission as well as for an upcoming small engine program.

The transmission is expected to improve fuel economy in some of the company's lineup of future vehicles, while the gasoline engine is viewed as a key element towards fuel economy leadership in the small four-cylinder engine segment. The investment is also expected to create or retain 91 jobs.

The investment is part of GM's $2 billion program to generate jobs at multiple facilities in several states announced last May 10, 2011.

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GM's Akerson Is Concerned About Deficit, Economy

- GM's Akerson Is Concerned About Deficit, Economy



Jun 7, 2011

Dan Akerson, the CEO of General Motors (GM), told reporters before the company's annual shareholder meeting in Detroit that he is concerned about the U.S. government's high deficit and a "jobless" economic recovery. Akerson says the government needs a plan to pay down the nearly $14T deficit, and comments that if more jobs are created, more people will buy cars and other durable goods. The company also revealed that it has eliminated half of its pension liabilities since 2009, meaning the pension fund is now 90% funded and the shortfall is less than $9 billion. The fund had been underfunded by $17.1 billion at the end of 2009 and by $11 billion as of the first quarter this year. Shares of GM are trading up over 1% to $28.87.

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General Motors' CEO Rallying for Higher Gas Taxes

- General Motors' CEO Rallying for Higher Gas Taxes



Jun 7, 2011

General Motors (NYSE:GM) CEO Dan Akerson recently spoke about the need for the federal government to boost the gast tax by as much as $1 per gallon in order to push consumers toward more fuel efficient vehicles. Akerson also believes the government will get rid of its remaining 26% stake in the company in the next six to 12 months.

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Tesla Motors Announces Pricing of Follow-On Offering of 5.3 Million Shares

- Tesla Motors Announces Pricing of Follow-On Offering of 5.3 Million Shares



Jun 3, 2011

Tesla Motors, Inc. (NASDAQ:TSLA) announced today it has priced and fully allocated its follow-on offering of 5.3 million shares of common stock at $28.76 per share, the closing price of the stock on June 2, 2011.

The company has granted the underwriters a 30-day option to purchase up to an additional 795,000 shares at the offering price.

Tesla offered all 5.3 million shares. Two additional private placements are occurring concurrently with the offering.

Tesla's CEO, Elon Musk, is purchasing 1.416 million shares of common stock directly from the company at the offering price, and Blackstar Investco LLC, an affiliate of Daimler AG, is purchasing up to 637,475 shares directly from the company, also at the public offering price.

Goldman Sachs acted as the sole underwriter for the follow-on public offering.

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U.S. Automakers Prepare for Massive Factory Hiring

U.S. Automakers Prepare for Massive Factory Hiring



May 31, 2011

General Motors (NYSE:GM), Ford (NYSE:F) and Chrysler (FIATY) are preparing for a massive factory hiring as the companies boost production to satisfy the returning appetite for new vehicles. All three automakers have recalled many laid-off workers after eliminating tens of thousands of hourly jobs during the downturn. All new entry-level workers from now on will start at about $14 an hour, about half the veteran wage, and less than the average U.S. manufacturing wage of $18.89 an hour, according to the Bureau of Labor Statistics.

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