By Ross Kenneth Urken
The saving grace for General Motors amid its recent recall debacle has been robust sales; the company sold 2,505,889 vehicles worldwide in the second quarter of 2014, with year-over-year sales in the United States up 7%.
Consumers’ purchasing behavior may be unfazed by the safety concerns, but the true bargains for those at GM dealerships are to be found on leases.
By Ross Kenneth Urken
Today at Cedar Lake Studio in New York, General Motors unveiled its Chevrolet and GMC 2015 SUV line-up with a focus on the all-new Chevy tanks, the Tahoe and Suburban.
GM holds about 75% of the full-size SUV market, and it’s selling the land yachts in droves: thus far in 2013, Chevy and GMC have sold more than 180,000 Tahoe, Suburban, Yukon, Yukon XL, and Denali SUVs with revenue on full-sized SUVs alone equal to that of a Fortune 400 company.
By Ben Klayman and Eric Beech
Senators on Thursday demanded to know why General Motors Co did not fire its top lawyer after it was revealed this year that the automaker’s litigation department knew of a widespread and deadly ignition flaw but failed to escalate the safety issue.
German auto supplier ZF Friedrichshafen, moving to acquire TRW Automotive Holdings, has been told by lenders that financing is available for a higher all-cash bid which could value the U.S. company at as much as $13 billion, people with knowledge of the matter said.
ZF, working with Citigroup, is exploring a proposal that values TRW at between $110 to $112.50 a share, said two of the people, who asked not to be identified because the matter is private.
A major new report published at the Low Carbon Vehicle Partnership’s Annual Conference shows the UK automotive sector has been revitalized by consistently applied policy centered on cutting carbon.
