GM will make a $1.2 billion payment to the US and Canada on its $6.7 billion senior note from the Treasury and Canadian government, probably in December. The $6.7 billion is the entire sum of money…
As another sign of the truth that most of the world’s rich people have moved to China or were born there, sales of the $150,000 Mercedes S class are now higher in the People’s Republic than…
Toyota (NYSE:TM) did not keep its top spot as the world’s largest car company for very long. It held the crown for about a year. Industry statistics show the new VW-Porsche combination has produced 4.4…
The federal government is highly active in getting banks to reset loans for people who want to stay in their homes by improving the terms of their monthly payments. The Homeowner Affordability and Stability…
GM sold 166,911 cars and light trucks in China last month. The No.1 US auto company sold 177,603 vehicles in its domestic market in the same period. The FT reports that “A total of…
GM executive Bob Lutz, who has been a senior executive in the car industry longer than any man alive, will become the new chairman of Opel. GM has decided to keep ownership of Opel…
Markets in Asia rose. The Nikkei was up .7% to 9,790. Mitsubishi UFJ (NYSE:MTU) was down. Honda (NYSE:HMC) and Sony (NYSE:SNE) both gained. The Hang Seng rose 1.6% to 21,830. The Shanghai Composite was…
GM has decided to keep its European operations, Opel and Vauxhall. Now, it has to figure out how to pay for them. Opel owes the German government over $1.3 billion in bridge financing. It…
Almost no one expected any of the world’s largest car companies to make money this year. Sales around the globe are simply down too much and efforts to cut costs have not been enough…
The three major car racing circuits–Formula One, NASCAR, and Indy Car–have built a multi-billion business. Formula 1 revenue, which includes sponsorships and broadcast fees, is estimated to be $3.9 billion, which is more per…
The German government went to a great deal of trouble to finance a bid for Canadian parts firm Magna (NYSE:MGA) and a Russian financial group to buy GM’s Opel and Vauxhall operations. GM has…
GM’s sales rose unexpectedly, by 4% in October to 177,603 cars and light trucks. Chevrolet retail sales were especially strong, up 31%. The No.1 US car company said fourth quarter production would be 17%…
Jerome York is a nasty piece of work and a financial genius who has been successful as a lieutenant to billionaire raider Kirk Kerkorian. York’s curriculum vita as a financial analyst is impeccable. He…
We noted just last week that Bill Gates was getting more entrenched in the waste disposal sector. It turns out that Mr. Gates is getting deeper into the auto-retailing sector as well. In an…
The UAW rank-and-file may have given Ford a little fit over the weekend by voting down a contract with the No.2 US car company. Monday dawned a better day as Ford may the surprise…