Category: High Finance

By on March 13, 2017

2017 Chevrolet Sonic, Image: General Motors

General Motors isn’t finished slashing products or dialing back plans to bolster its financial standing.

After unloading its near century-long Opel and Vauxhall holdings to France’s PSA Group, a move that came after failed attempts to return the European brands to profitability, GM plans to turn its focus on underperforming products in North America. There’s a chance that a model you hold dear could find its way to the chopping block. Read More >

By on February 7, 2017

2017 Chevrolet Tahoe Z71 Midnight Edition

The grim memories of 2008 and 2009 only plague Renaissance Center denizens in the form of night terrors now, as General Motors finds itself on financial ground that’s oddly solid, considering some of the factors effecting the company.

Faced with a slowdown in the automotive market in 2016, the automaker — like so many others —boosted incentives on its vehicles. Meanwhile, the U.S. public’s insatiable thirst for SUVs and crossovers left some of the General’s cars high and dry, sending inventories soaring to very unhealthy levels. While new crossovers were in the pipe in 2016, those lucrative models weren’t scheduled to land until this year. GM’s European division, meanwhile, struggled to rise out of the red.

Despite all of this, the company posted record income and revenue in 2016, according to an earnings report released today. Read More >

By on October 8, 2016

Tesla Model 3 Prototype on road, Image: Tesla Motors

The brief uptick in share price Tesla enjoyed after beating production estimates this week was swiftly erased by a newly critical Goldman Sachs Group.

The investment bank downgraded the company on Thursday, sending its stock back down the hillside, Bloomberg reports. It’s bad news for CEO Elon Musk’s fundraising plans. Read More >

By on October 3, 2016

Tesla Model X

After a second quarter that was anything but hot, Tesla Motors surprised analysts by delivering 24,500 vehicles in the third quarter — a 10,000-unit jump over the previous tally.

The healthy delivery numbers allow CEO Elon Musk to stick to his promise of 50,000 deliveries in the second half of this year, reports Bloomberg. Still, the production boost failed to buoy the company’s stock, meaning Musk’s fundraising plans won’t be easy. Read More >

By on September 22, 2016

General Motors #AMERICA

General Motors is searching for savings under every RenCen couch cushion as it ramps up a profit-boosting cost-cutting effort.

The automaker has already chopped plenty of what it sees as fat, and is so confident in its streamlining abilities that it now claims it could weather a major plunge in sales. Even, say, a 40-percent dropoff.

For a company that knows all about sales plunges — recent ones, too — this is pretty confident talk. It has to be, as GM wants you — yes, you! — to invest. Read More >

By on September 21, 2016

McLaren Apple

British supercar maker and racecar developer McLaren Technology Group has refuted a report claiming it is talks with tech giant Apple ahead of a possible takeover.

A McLaren spokesperson has told Street Insider that the earlier report, published in the Financial Times, is incorrect. Read More >

By on September 21, 2016

2014 Volkswagen Passat TDI-011

It’s not the podium an automaker wants to find itself on top of.

After marking the first anniversary of its emissions debacle, former “clean diesel” builder Volkswagen finds itself staring down the barrel of $9.15 billion in investor lawsuits, the Wall Street Journal reports.

When it comes to being sued by investors, no German company can match Volkswagen’s performance. Read More >

By on September 8, 2016

Formula One (Leo Hidalgo/Flickr)

New details about the Formula One purchase trickled out last night after the buyer, Liberty Media Corp., agreed a deal to take over the sport.

The U.S.-based entertainment and telecommunications giant will initially pay $4.4 billion for a controlling stake in the franchise, The Guardian reports, and a familiar white-haired figure will keep his job. Read More >

By on September 7, 2016

Bernie Ecclestone (Ryan Bayona/Flickr)

Longtime Formula One chief executive Bernie Ecclestone will remain involved with his beloved sport, even after an imminent takeover by a U.S.-based media company.

Ecclestone, head of Formula One for the past four decades, says he’s been asked to stay on for three years after the takeover, Reuters reports. Read More >

By on August 9, 2016

Couple buying cat Courtesy chronicleherald.ca

With memories of the 2008 financial meltdown still fresh, American consumers aren’t borrowing wildly anymore — except when it comes to cars and credit card purchases.

As of the end of June, car buyers racked up the highest auto loan debt in U.S. history — $1.1 trillion, according to a quarterly report from the Federal Reserve Bank of New York. Also on the rise? Credit risk. Read More >

By on August 1, 2016

Tesla Model X

To bastardize an old Dodge slogan, if you’re willing to devote your life to sustainable driving and ditch your electricity provider, you could be Tesla material.

The electric automaker announced a deal with solar company SolarCity today — an all-stock agreement worth $2.6 billion. Acquiring the nation’s largest rooftop solar provider gives Tesla CEO Elon Musk the top-to-bottom green company he always wanted, but it opens the company up to new risks. Read More >

By on July 28, 2016

ford logo

Ford Motor Company says its profits dropped 9 percent in the second quarter, and warns that leaner times are coming.

Net income, global market share, and earnings per share all fell, but the automaker’s financial news wasn’t all bad. Still, Ford plans to do some cost cutting as the red-hot new vehicle market cools off in North America. Read More >

By on July 21, 2016

General Motors #AMERICA

General Motors is busy phoning friends and posting on its Facebook wall after it made record net revenue in the second quarter of 2016 and boosted its net profit by 157 percent.

A net revenue of $42.4 billion is a high point for the company, even though the automaker’s global sales were flat compared to this time last year, with 2.4 million vehicles sold. Is it any wonder GM isn’t concerned about its falling market share? Read More >

By on July 18, 2016

BYD

There’s money in them there cars, Samsung Electronics Company must have thought.

The Korean technology giant is in talks to buy a stake in Chinese automaker BYD, Reuters reports, and it isn’t the first time the company sought new cash streams from automotive world. Read More >

By on June 27, 2016

FCA

After Britain referendumed themselves right out of the European Union last week, there was plenty of talk about how the country’s automakers would fare in the wake of the Brexit.

But what about an Italian-American automaker? Today, investment bank Goldman Sachs removed Fiat Chrysler Automobiles from their “conviction” buy list, citing uncertainty over the fate of the EU, Bloomberg reports. Read More >

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