#Finance

Just ahead of their Q1 2013 earnings called, Tesla announced that they were profitable in the first quarter of the year, with deliveries exceeding their own targets. In addition, Tesla has also decided to discontinue the base trim of the Model S due to a lack of demand.

1991 GMC Jimmy SLE

The 1991 GMC Jimmy was a throwback to a better time. The design, originally introduced in the 1973 model year, was all truck and its square, upright design spoke volumes about American strength and power. Over the years, the design gradually evolved and towards the end of its product run even gained small touches of luxury. Don’t be misled by the soft velour seats and carpeted floors, though, under the skin the truck was still all business. It was a serious rig for serious men and it required a seriously big wallet to fill its seriously big fuel tank. I didn’t know it then, but I was in serious trouble the minute it hit the driveway.

Tesla Motors Inc. released its Fourth Quarter & Full Year 2012 Shareholder letter on Wednesday. While the letter provides a very positive outlook for Tesla’s future, there are some questions looming in the background once we dig deeper into Tesla’s balance sheet.

After approving a $1.6 billion loan guarantee for PSA’s captive finance arm, the European Commission demanded a restructuring plan for all of PSA within six months.

Zipcar, the leading player in car sharing in North America, is about to be acquired by Avis Budget Group for $500 million in cash. The rental car firm will pay $12.25 per share, a whopping 49 percent premium relative to Zipcar’s closing price on December 31st.

Suzuki’s death rattle continues unabated as the company’s American distribution arm will receive $100 million in financing, half of which is earmarked to purchase inventory from parent company Suzuki Motor Corp.

Your personal information is valuable.

When I liquidated vehicles for Capital One, we typically examined over 14,000 variables before lending out our money to a customer.

Any customer. A credit card. An automobile. A commercial loan. It didn’t matter. We needed to get to know the economics of you first.

All of the low rates and big profits were dependent on buying your personal information, and then crafting decision models and metrics to determine your personal risk.

Our success in auto finance generated low rates for our customers and low delinquencies for our investors. But they both could have been far lower.

The government of Ontario is calling on the Canadian government to sell off its shares in GM, obtained as part of a bailout package for the automaker in 2009.

(NSFW language)

Months ago, we began our Suzuki Death Watch, and today, we hear the executioner’s song. Suzuki’s North American distribution arm filed for bankruptcy, and will end automotive sales in the United States. Slow sales, an unfavorable exchange rate and a limited lineup of vehicles can all be blamed for the demise of a company that was ignored all too often. Luckily, Suzuki’s motorcycle and powersports business remain intact. We’ll have more tomorrow.

Workers at an LG Chem plant in Holland, Michigan have already been put on furlough before a single battery has come off the line. Workers have three weeks of paid “work”, and one week off unpaid at the $300 million plant.

How does the French government save an ailing car maker that employs thousands of people without actually bailing out the auto maker? By baling out their finance unit, of course!

The Voluntary Employee Beneficiary Association, or VEBA, was initiated as a way to get retiree healthcare costs off the books of Detroit’s auto makers. While VEBA makes balance sheets look better, they are still an exorbitant legacy costs for the Big Three, and things are about to get a lot worse.

GM’s stock is still considered a “Buy” in the eyes of much of Wall Street, but analysts say that more changes are needed to accelerate the pace of growth in the post-Bailout era.

A report in The Independent revealed that Lotus owes supplies nearly $37 million and has even asked for tax payment deferments to help manage its cash flow.

Shares of General Motors held by the Canadian federal government and the government of Ontario may have difficulty unloading their $9 billion stake in General Motors, according to a report by Bloomberg.