Toyota remains the number one auto maker by volume, but the gap between it and its main rivals is closing quickly.
Tag: general motors
Fiat is now the proud owner of VM Motori after acquiring the remaining 50 percent of the diesel engine maker from General Motors for $47.1 million.
The first half of VM Motori was purchased by Fiat in 2010, with GM exercising a put option to purchase the remaining half. VM Motori now supplies diesel engines for the forthcoming Jeep Grand Cherokee and Ram 1500 EcoDiesel – an engine originally developed for the European Cadillac CTS.
When one thinks of General Motors’ relationship with China, Buick flashes into the mind like a brake light in the Beijing smog. Sometimes, Cadillac comes up, as well. However, with Volkswagen preparing to slingshot past them in a manner akin to Danica Patrick being flung toward the front of the pack with help from Tony Stewart, CEO Dan Akerson is planning to aggressively push Chevrolet through the choking air, and into as many Chinese garages as he can find.
General Motors’ global product chief Mary Barra increasingly looks like a candidate to replace CEO Dan Akerson when he retires, now that the automaker’s purchasing operations have also been brought under her supervision.
A brief memo from General Motors Canada confirmed that the Oshawa consolidated line, scheduled to close in 2014, will stay open until 2016. GM is citing strong market demand for the Chevrolet Equinox and the outgoing, Chevrolet Impala (sold as a fleet-only model) as a reason for the decision, but cautioned that “ All scheduling adjustments are subject to market demand”.
Under the terms of the bailout, GM must keep 16 percent of its production in Canada until it has repaid its loan obligations to the Canadian government, or until December 31, 2016. After that date, the future of Oshawa is uncertain.
Reuters is reporting that the reason behind PSA/Peugeot Citroen’s financial tie-up with China’s Dongfeng Motors was the decision of General Motors, which owns 7% of the French automaker, to scale back cooperation with Peugeot. GM also apparently rejected a PSA/Opel merger backed by the French government.
Reuters has reported that Chinese automaker Dongfeng and the French government will be taking equity stakes in PSA/Peugeot-Citroen after injecting $4.1 billion into PSA. Under the draft agreement, which is still being negotiated, Dongfeng Motor and the French government will each put 1.5 billion euros into the French automaker, with each of those parties getting a 20 to 30 percent share in the company.
GM Canada’s CEO is expressing apprehension over the way cheap auto loans are fueling vehicle sales in Canada.
The way that the auto industry uses the traditional independent dealer sales channel and proposed alternatives to that process have prompted considerable debate here at TTAC recently. While industry followers watch Tesla’s attempt to change the way automobiles are retailed with their factory owned outlets, General Motors is doing its part to change the retail sales equation, or at least make the negotiating process a bit more user friendly. If buyers want to, they can now complete the entire car buying process and even take delivery without ever stepping foot in a traditional dealership. However, GM says that the program is there to complement the existing retail dealer sales channel, not replace it. By the end of 2013, GM will expand the Shop-Click-Drive online shopping program nationally. (Read More…)
September was a great month for Subaru, with the brand up 15 percent. Ford, Chrysler, Jaguar Land Rover and BMW also posted solid gains. General Motors,Hyundai/Kia, Toyota, Nissan and Honda saw declines, as the SAAR dipped to 15.3 million units amid decreased consumer and business confidence. Table below the jump.
With the Flat Rock assembly plant on the cusp of sending cars to dealerships, the Ford Fusion could potentially sell 300,000 units this year, becoming the first car nameplate from Ford to cross that mark in a decade. But to catch the best-selling Toyota Camry, Ford will have to have capacity for 400,000 units – something that could happen as early as 2014.