By Steve Goldstein
General Motors disclosed in a Securities and Exchange Commission filing that its GM Financial unit was served with additional investigative subpoenas from several state Attorney Generals.
Monthly Archives: October 2014
Opel on track to achieve turnaround, GM says
General Motors says troubled Opel/Vauxhall unit is on track to achieve a turnaround despite headwinds from Russia.
GM said on Thursday that third-quarter losses at its European operations, which mainly comprise Opel and British sister brand Vauxhall, widened to $387 million from a $238 million loss in the previous year’s period. This was due largely to Russia, where the company booked $194 million in write-downs, and includes about $100 million in losses related to currency effects that likely reflected the drop in the value of the Russian ruble.
EU set to allow car emissions into carbon trading market
By Julia Fioretti and Barbara Lewis
The European Union is set to make it easier to bring road transport emissions into the carbon trading market, a move that critics say could empower carmakers to push back against more effective curbs on greenhouse gases.
after 5th Honda Fit recall, company appoints first quality czar
Honda, after announcing a fifth recall of the redesigned Fit in just 12 months, has taken the unprecedented step of appointing a quality czar to clamp down on problems. The company’s top executives will also receive 20% pay cuts for three months to take responsibility for the recall-plagued car. The Fit was recalled Oct. 23 for a fifth time since its 2013 debut.
GM profits drop on weakness in Europe, South America
By John Biers
General Motors Thursday reported lower third-quarter earnings on weakness in some international markets, but showed signs of emerging from a costly ignition-recall scandal.
