General Motors

Contract Talks begin between GM and UAW

Contract Talks begin between GM and UAW

The four-year contract between the UAW and US automakers will end at midnight on September 14. Concerns have been raised over automakers increasing their investments in Mexico to take advantage of lower labor markets and Mexico's free trade deals with many other countries.

UAW President Dennis Williams refused to comment on the Ford's move, but said that it becomes a reason to worry for him whenever any corporation starts investing outside the US.

Contract talks between UAW delegates and US automakers set to open this month

Contract talks between UAW delegates and US automakers set to open this month

The US automakers will talk to United Auto Workers (UAW) delegates this month over contract issues. There are concerns among some workers at Lordstown and 11 other General Motors assembly plants scattered across the US over their jobs moving to south.

A $350 million investment plan in a Mexican factory was previously announced by GM to build the Chevrolet Cruze compact car. The plant for building the car for all of North America is currently located in Lordstown, east of Cleveland.

Hundreds of United Auto Workers delegates also gathered in March to devise ways to go ahead with contract talks with the US automakers.

Nick Waun, a worker at an SUV plant outside Lansing, Mich., said the partnership with the union will be ruined by moving a lot of stuff to Mexico.

Goldman Sachs Group Inc. Flips Its Preference to Ford

Goldman Sachs Group Inc. Flips Its Preference to Ford

According to the experts at Goldman Sachs, it is high time to put brakes on General Motors and rev up the engines at Ford.

Goldman, in a research note on Tuesday after the close in New York said that Ford will benefit in this year’s second half from the redesigned F-150 pickups. The company is also showing improvement in China.

GM’s incentives on light trucks are climbing because of competition, and the Detroit-based company may miss its forecasts in China as that market weakens, according to the note.

It has been said that Goldman analysts Patrick Archambault and David Tamberrino raised Dearborn, Michigan-based Ford to buy from neutral and increased its 12-month price target for the shares to $19 from $18.

GM to cut production at Orion plant

GM to cut production at Orion plant

It has been announced by General Motors that it is cutting down production of its Chevrolet Sonic and Buick Verano cars as demand in the US has fallen on the whole for smaller vehicles.

According to GM spokesman Bill Grotz, nearly two-thirds of GM's North American vehicle assembly plants will be closed during the summer months. Grotz said that earlier, for model year changeover, most plants used to shut down in early July, however now it is decided on the basis of specific vehicle lifecycle and market demand.

GM to enable control by voice commands

GM to enable control by voice commands

General Motors Co. is going to enable owners of many Chevrolet models to use voice commands for controlling Apple and Android applications on smartphones.

On Wednesday, GM said that the program, which is going to start this summer, includes the redesigned 2016 Cruze small car that will make a debut in June.

Almost all of Chevy's 2016 vehicles will be able to use the brand's MyLink infotainment system for accessing Apple Inc.'s CarPlay. Six models will be set up to work with Google Inc.'s Android Auto.

GM to Pump in $1.2 billion in its Fort Wayne Facility

GM to Pump in $1.2 billion in its Fort Wayne Facility

Scaling new heights ever since its federal bailout in 2008, General Motors has added another feather to its cap. The company announced on Tuesday, that it would make an investment of $1.2 billion in its Fort Wayne, Indiana assembly plant.

General Motors Company, commonly known as GM, is an American multinational corporation headquartered in Detroit, Michigan, that designs, manufactures, markets and distributes vehicles and vehicle parts. Presently, GM produces vehicles in 37 countries under thirteen brands.

Over 100 people died due to Criminal Wrongdoing by GM

Over 100 people died due to Criminal Wrongdoing by GM

General Motors ignition switch case could lead to massive troubles for the automobile giant. New York Times reported on Friday that more than hundred people lost their lives due to criminal wrongdoing by vehicle manufacturing company General Motors (GM).

The finding by the United States Justice Department could put the Detroit headquartered GM on a path to pay a huge fine. Earlier, the company said that it was paying a huge amount to victims. In addition, the company also announced to replace more than 2 million ignition switches in the older version of the car.

GM Korea to introduce Next-Gen 2016 Chevrolet Volt in 2016

GM Korea to introduce Next-Gen 2016 Chevrolet Volt in 2016

On Monday, GM Korea, the local unit of US automaker General Motors, said that it will roll out the next-generation Chevrolet Volt plug-in hybrid to the South Korean market next year.

The Volt was first launched in 2010 in the United States and later in the European market. Approximately 75,000 units of the model have been sold in the US market since its debut.

The Volt runs as a 100-percent battery-powered electric vehicle. It switches to an internal combustion engine until the battery drops to a certain level.

The second-generation Volt was unveiled at the Chicago Auto Show in January. It can alone travel for about 80 kilometers on a fully-charged battery. According to the company, its range-extending gasoline engine pushes the driving range to more than 650 kilometers.

GM to spend $5.4B to improve its facilities in US

GM to spend $5.4B to improve its facilities in US

General Motors (GM) has planned to spend $5.4 billion and create about 650 jobs to improve its US factories during the next three years.

The company announced about its $783.5 million of the investments and said the remaining will be announced in the coming months.

The investments come when Detroit automakers are prepared for contract talks with the United Auto Workers union that will start this summer.

GM like other automakers wants to build or expand factories in lower-cost Mexico. It want to move more production south of the border and of keep the union happy with additional investments in the US.

General Motors protected from Billions of Dollars in Death and Injury Claims

General Motors protected from Billions of Dollars in Death and Injury Claims

According to a federal judge ruling, a 2009 bankruptcy order protects General Motors (GM) from billions of dollars in death and injury claims over defective ignition switches in older small cars.

Judge Robert Gerber ruled that plaintiffs who claim a loss in the value of their cars can still take legal action against General Motors Co. Back in 2009, Gerber enabled new GM to come out from bankruptcy protection free from liabilities of the company before bankruptcy. Recently, the plaintiffs said that GM misled the court six years ago as it knew about but unsuccessful to disclose the ignition switch problem.

Canada agrees to sell its Remaining Stake in General Motors

Canada agrees to sell its Remaining Stake in General Motors

An announcement has been made that Canada will sell its remaining stake in General Motors Co. Canada will sell its stake to Goldman Sachs for an undisclosed amount.

As per market experts, it is a deal that helps bolster the Conservative government's promise to balance the books before elections. According to Canada GEN Investment Corp., a federal agency, this transaction includes the sale of 73.4 million shares. It has revealed that as a result the Canadian government will no longer hold any shares of General Motors once the deal closes Friday.

GM to repurchase $5 billion shares to resolve proxy fight

GM to repurchase $5 billion shares to resolve proxy fight

Automotive giant General Motors will purchase $5 billion shares stock and will be returning cash worth $20 billion to shareholders over the next few years. GM took this step in order to resolve dispute with investors and it also approved a plan in an attempt to boost its share price that has remained unchanged for some time.

The decision was taken after discussions took place between the company and an investment group, which is led by Harry J. Wilson. The group is a part of the government task force, which managed the company's $49 billion bailout few years back.

Death toll from General Motors ignition switches rises to 57

Death toll from General Motors ignition switches rises to 57

Detroit - The death toll from crashes involving General Motors cars with defective ignition switches has climbed to 57.

The total is one more than last week. It was posted today on an internet site by compensation expert Kenneth Feinberg.

Feinberg and his aides are checking claims filed or postmarked before a January 31 deadline to determine which are eligible for compensation.

Each eligible death claim is worth at least USD 1 million under his guidelines. Feinberg was hired by GM to make payments.

As of Friday, he received 479 death claims and 3,866 injury claims. Of the injury claims, 94 will get compensation, up from 87 a week ago.

GM unveils new battery powered Chevrolet Bolt

Chevrolet BoltWashington, Jan 13 : The General Motors has finally unveiled the new battery-powered Chevrolet Bolt.

According to The Verge, the car, a high-roofed hatch, promises "more than" 200 miles on a charge at a price around 30,000 dollars - not far from the market Tesla is looking to go after with its upcoming Model 3.

The car supports DC fast charging and has a 10-inch touchscreen in the centre of the dashboard.

It also includes high-tech features like the ability to use a smartphone as the key, integrated ride-sharing management, and self-parking capability, the report added. (ANI)

General Motors to hike prices by up to Rs 20,000 from Jan 2015

New Delhi - General Motors India on Monday said it will hike prices of its entire product portfolio by up to Rs 20,000 from next month, in order to partially offset rising input costs.

All the eight models of the company's current product portfolio in the country, including entry level compact car Spark, will become costlier due to price hike.

"We have decided to increase the price of all car models to the tune of 1 per cent with effect from January 1 due to input cost pressure. The quantum ranges between Rs 5,000 to 20,000 depending upon the models and variants," General Motors India, Vice President P Balendran told PTI.

General Motors launches new SAIL compact, SAIL sedan

General-Motors-SAILNew Delhi - General Motors India today launched the new Chevrolet SAIL hatchback and sedan priced between Rs 4.41 lakh and Rs 7.64 lakh (ex-showroom Delhi).

The new SAIL hatchback is priced between Rs 4.41 and Rs 6.81 lakh and the SAIL sedan is priced between Rs 5.19 and Rs 7.64 lakh (ex-showroom, New Delhi), the company said in a statement.

Both the models are available in diesel and petrol options. The diesel option is powered by a 1.3 litre engine, while the petrol has a 1.2 litre engine.

GM Finance subpoenaed over subprime auto loans

GM Finance subpoenaed over subprime auto loansNew York - GM Finance says it has received a subpoena from the US Department of Justice for documents related to subprime auto loans. The affiliate of General Motors Co said in a filing today with the government that the Justice Department requested documents related to the origination and securitisation of subprime auto loan contracts since 2007.

General Motors' July sales down 27% to 4,726 units

General MotorsNew Delhi: General Motors India on Friday reported 27.32 per cent decline in July sales at 4,726 units as against 6,503 units sold in the same month of last year.

The July 2014 sales include 1,563 units of Beat, 1,222 units of Tavera and 812 units of Chevrolet Enjoy, the company said in a statement.

General Motors India Vice President P Balendran said: "The buoyancy in the market is still missing because of high interest rates and high fuel prices. An insufficient monsoon is also affecting sales of small cars in rural areas and tier II cities."

GM India launches Manchester United editions of Beat, Sail

Chevrolet-Sail-U-VA-Manchester-UnitedNew Delhi: General Motors on Monday launched special editions of its hatchback models Beat and Sail in India to mark its partnership with popular English football club Manchester United.

The launch of Manchester United limited editions of Chevrolet Beat and SAIL hatchbacks comes at a time when the Chevrolet brand is making debut on the club's jersey.

The special edition models come with various features including Manchester United decals, alloy wheels, special seat covers, and roof rails.

GM launches Spark limited edition priced up to Rs 3.99 lakh

GM launches Spark limited edition priced up to Rs 3.99 lakhNew Delhi: General Motors India today launched a limited edition of its entry level compact car Chevrolet Spark priced up to Rs 3.99 lakh (ex-showroom Delhi).

The new edition, having additional features such as outside rear-view mirrors with integrated turn signals, will be priced between Rs 3.44 and 3.99 lakh (ex-showroom Delhi), the company said in a statement.

GM India has been targeting first-time buyers and young nuclear families with its Chevrolet Spark car. The car is powered by a 1-litre petrol engine.

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