The U.S. Treasury does not plan to start selling its remaining shares in General Motors Co until August at the earliest, after the automaker's second-quarter financial results, people familiar with the matter said.
GM has announced that it will invest $2 billion in two years from now, creating or retaining 4,000 jobs.
General Motors Co said on Tuesday it will invest about $2 billion in 17 U.S. plants, including one here that makes transmissions for small cars, as the automaker shifts from recovery mode to investing in future products.
General Motors (NYSE: GM) is planning to add or preserve about 4,200 jobs in eight states (including 2,000 in the Detroit area alone), according to a report in the Detroit Free Press newspaper.
Robert Stempel, the first engineer to become the chief executive of General Motors Co , died on Saturday in Florida, the Detroit Free Press reported. He was 77.
A tripling of profits by General Motors Co was marred by incentives to lift car sales, raising doubts about the automaker's ability to maintain momentum since emerging from bankruptcy.
Shares of General Motors Co fell as much as 4.7 percent on Thursday as investor concerns over weak pricing at the No. 1 U.S. automaker outweighed a giant leap in quarterly net profit.
General Motors Co is expected to report on Thursday first-quarter operating earnings more than double a year earlier, driven by a recovery in the U.S. market and strong sales in Asia.
General Motors Co's quarterly profit more than tripled, beating expectations, driven by a recovery in the U.S. market and strong sales in Asia.
US carmakers posted strong numbers for car sales in April 2011 while Japanese carmakers struggled with the disruptions caused by the 2011 T?hoku earthquake.
General Motors Co's U.S. sales rose 26 percent in April, a sign that the automaker has not been greatly affected by supply disruptions from Japan after the March 11 earthquake.
U.S. auto sales are expected to show a 16 percent increase for April, as the sales crunch dealt by the Japanese earthquake and tsunami is not expected to show up in new auto purchases until May, automakers and analysts said.
The year 2011 hasn’t been kind to Toyota and Alabama tornadoes just set it further back.
General Motors Co Chief Executive Dan Akerson said the company has not been greatly affected by supply disruptions due to the March earthquake in Japan, and the company wants to repay U.S. taxpayers before making acquisitions or declaring a dividend.
With today’s gain, the S&P 500 index has now more than doubled in value from the Mar. 9, 2009 bear market low.
General Motors Co killed its minivan in the U.S. market thanks to its soccer-mom stigma, but the automaker has carved out a high-priced niche for the vehicle as a chauffeur-driven executive ride in China.
The Treasury could sell a big chunk of its remaining 33 percent stake in General Motors Co in the summer or fall, a person with knowledge of the matter said on Monday, although doing so may lead to more losses for it on the automaker's bailout.
General Motors Co said on Tuesday it will invest $100 million in a New York parts plant that the company and union officials say was kept from closing because workers there agreed to second-tier wage levels designed to keep U.S. automakers competitive.
Amazon has dropped the price of its popular e-book reader by $25 to $114, a signal that the company is moving towards a $99 version.
General Motors Co said on Friday that its U.S. sales rose 11.4 percent in March as higher gasoline prices drove demand for smaller, more fuel-efficient vehicles.
General Motors Co U.S. sales in March came in below expectations on Friday as the automaker eased off the generous incentives it offered car buyers over the first two months of the year.
Ally Financial has filed to offer shares to the public in a first step for the U.S. government to sell down its majority stake in the former General Motors credit arm.
