General Motors Seeks to Raise $13 Billion in IPO
After much anticipation, General Motors finally revealed details of its public offering of stock, which is expected later this month. The automaker plans to raise $13 billion.
vehicle sales
October Auto Sales: Is the Market Improving?
Carmakers are expected to report a mixed picture for October sales: mostly better than a year ago, but down slightly from September. Still, the pace appears strong enough that the upper end of full-year forecasts is reachable.
GM's a Day Away From Making Its Own Car Loans Again
General Motors will once again have its own in-house financing unit starting Friday, when the auto giant closes on its $3.5 billion purchase of AmeriCredit. The new unit, to be renamed General Motors Financial, will allow GM to offer consumers more financing and leasing options.
August Auto Sales May Be the Worst in 28 Years
Auto sales braked sharply in August, starting out strong, then slowing to a level that may be the lowest in 28 years. The weak economy made nervous consumers hesitant to buy, despite the bevy of end-of-model-year deals.
Ford, GM Sales Surge in January as Toyota Tumbles
Ford and General Motors reported higher sales in January, with Ford fleet sales surging 154%. Detroit's gains came as consumers avoided the showrooms of the largest Japanese competitor, Toyota, which is mired in massive recall involving millions of vehicles.
Toyota Recall Lifts Ford Sales 25 Percent in January
Ford Motor sales surged 24.6% last month, as it took advantage of a revived product lineup and consumer concerns about the recall of its closest competitor, Toyota Motor Corp.
China Topples U.S. as No. 1 Auto Market
It took a massive recession to make it happen, but China eclipsed the U.S. in auto sales last year. Buoyed by government stimulus, Chinese consumers snatched up 10.3 million cars, while total vehicle sales reached 13.6 million. By contrast, in the U.S., which was the world's largest auto market for decades, sales were just 10.4 million cars and trucks, and 2009 will go down as the slowest sales year since 1982.
Stocks in the News: Kraft Foods, Cadbury, Google, Ford
News that could affect stock prices today: Kraft's Cadbury bid gets slim support from shareholders; Google releases its Nexus One smart phone; Ford, Toyota, Honda reported improved December sales; retailers saw strong finish to the year.
Ford Sales Surge in December
Ford Motor reported Tuesday that sales of its vehicles rose 33 percent in December compared to a year ago. Sales for the full year, however, were down 15 percent compared to 2008. In the last month of the year, each Ford brand saw improved sales, and the company increased its domestic market share by a full percentage point.
