Archive for the ‘GM’ Category

Ford, VW Looking at Potentially Major Alliance

Update: Ford rules out merger or equity swap with VW.

by on Oct.18, 2018

Ford Motor Co. entered into a MoU with Volkswagen AG to work on some undetermined projects.

(This story has been updated to reflect comments from Ford ruling out a merger or equity swap.)

Like many an automotive manufacturer, Ford Motor Co. has been forming alliances with erstwhile rivals such as General Motors in a bid to reduce development costs and speed new products to market. But one potential partnership has been generating widespread buzz in industry circles, observers wondering just how far Ford might take things with German giant Volkswagen AG.

The two companies inked an MoU, or memorandum of understanding, announcing they will explore a number of possible projects, including the joint development and production of commercial vehicles.

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But industry analysts are now suggesting such a partnership could reach far beyond the commercial vehicle market, some even wondering whether there could be full-fledged merger or, at the least, an equity swap, in their future. (more…)

Uber’s Estimated Valuation in IPO Pegged at $120 Billion

Lyft is looking to doing an offering as well next spring.

by on Oct.18, 2018

Uber CEO Dara Khosrowshahi has been making substantive changes to the company since his arrival.

Uber could raise as much as much as $120 billion, dwarfing the market capitalization of General Motors, Ford and Fiat Chrysler, when it launches an initial public offering next summer, according to a report in the Wall Street Journal.

Uber is already in discussions with bankers about an initial public offering in early 2019, the Journal reported. At the same time, Uber’s principal Lyft raised $15 billion during a round of fund raising and has indicated it is preparing go public next spring, raising the prospect the two ride-sharing companies could collide in the race for cash.

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Uber’s potential valuation could be greater than the combined current valuation of the U.S. automakers, the Journal reported. The comparison has been the subject of some fierce debate with some critics suggesting that for “game changing” technology companies like Uber it is not a relevant. (more…)

GM Offers First-Ever Extended Bumper-to-Bumper Warranty

Company claims it could raise resale values.

by on Oct.15, 2018

GM's new extended warranty is accepted at all GM dealers across the U.S.

The difference between buying one new vehicle or another can often come down to the tiniest of things, but General Motors is now offering a big thing that it hopes will make a big difference: an extended bumper-to-bumper warranty.

The company is offering what it is calling the first ever true extended bumper-to-bumper warranty that covers Chevrolet and GMC products for five years or 60,000 miles, whichever comes first, while Cadillac and Buick owners can get a six-year or 75,000-mile warranty.

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“One of the best things about buying a new vehicle is the peace of mind that comes with the warranty,” said Ken Mac, director of Chevrolet, Buick, GMC, Cadillac Protection.  (more…)

GM Shows Support of Gender Equality with Board Appointment

Company named tops globally for gender equality.

by on Oct.12, 2018

International executive and former CIA deputy director Jami Miscik is joining General Motors board of directors.

General Motors has added a female executive with broad experience in international affairs to its board of directors and, in the process, signals its support of gender equality.

The addition of Jami Miscik, the CEO and vice chair of Kissinger Associates, a geopolitical consulting firm founded by former Secretary of State and Presidential adviser Henry Kissinger, brings the total membership of GM’s board to 12.

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The GM board now includes 11 outsiders and is made up of six men and six women. (more…)

New Chevy Silverado Turbo-Four Nabs Top Mileage Rating

For many truck buyers, mileage matters as much as payload, towing.

by on Oct.10, 2018

The 2019 Chevrolet Silverado will get up to 20 mpg in the city with the new turbo-four engine.

Who says pickup buyers only focus on power, payload and towing capacity? Operating costs are, for many customers – and especially those operating truck fleets – one of the most important factors they consider when choosing what model to buy.

That includes service and repairs, of course, but fuel costs are one of the biggest concerns, which is a key reason why automakers have been offering buyers a growing range of alternatives to the classic, big displacement V-8s that long dominated the full-size pickup segment.

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Chevrolet is hoping it will score a hit with potential buyers with the new, 2.7-liter turbocharged engine it is adding to its powertrain option list for the all-new 2019 Silverado. While not quite up to the numbers delivered by some of the diesel engines now available in the full-size segment, Chevy’s turbo-four nabs a tie as the most fuel-efficient gas engine available for U.S. buyers.

(more…)

GM Lauded by EPA for Commitment to Renewable Energy

Arlington Assembly plant makes top 100 list.

by on Oct.10, 2018

GM's Arlington, Texas plant is one of the most environmentally friendly in the country.

General Motors’ Arlington Assembly plant has earned a spot on the U.S. Environmental Protection Agency’s National Top 100 List of the largest users of green power.

The Arlington plant ranks 76 on list, earning the recognition of the Green Power Partnership effort to power all its global facilities with 100% renewable energy by 2050.

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“Receiving this recognition from the EPA is a true honor for the men and women at Arlington Assembly and UAW Local 276,” said Lamar Rucker, plant executive director at Arlington Assembly. “We take great pride in responsibly building world-class vehicles for our customers around the globe,” he said. (more…)

VW Back in the Global Sales Lead, But Toyota Returns to #2

Final months of 2018 could bring an epic battle.

by on Oct.08, 2018

Volkswagen appears to be the top selling automaker in the world with less than three months left in the year.

With 2018 quickly drawing to a close, Volkswagen appears to have cemented the global sales crown to its corporate head, rapidly gaining ground from its two closest competitors.

But rivals Toyota and the Renault-Nissan-Mitsubishi Alliance are facing a classic, neck-and-neck battle that could see them fighting it out until the last sale is counted, according to data compiled by research firm Focus2Move, for second place.

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One long-time contender, meanwhile, has dropped out of the race entirely. General Motors, which led the global auto industry for more than seven decades, is well out of the running after selling off its European Opel subsidiary and shuttering operations in several other markets, including Russia and India. (more…)

Honda Partnering with GM in Race to Develop Self-Driving Cars

Japanese maker will invest $2.75 billion, including stake in GM’s Cruise Automation unit.

by on Oct.03, 2018

Cruise, GM and Honda will join forces to fund and develop a purpose-built autonomous vehicle for Cruise that can serve a wide variety of uses.

Honda Motor Co. will invest about $2.75 billion to enter into a partnership with General Motors aimed at developing self-driving vehicles.

That will include a $750 million investment in Cruise Automation, GM’s San Francisco-based autonomous vehicle subsidiary that was expected to launch its first product sometime next year. Together, the two carmakers plant “to develop a purpose-built autonomous vehicle for Cruise that can serve a wide variety of use cases and be manufactured at high volume for global deployment,” according to a joint statement released Wednesday.

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The announcement marks the second major collaboration between GM and Honda, the two announcing in January 2017 plans to work together to develop an advanced hydrogen fuel-cell system that would be produced at a facility in suburban Detroit already assembling battery packs for use in vehicles like the Chevrolet Bolt EV. (more…)

Fiat Chrysler Outsells Ford in September

Makers struggle to overcome Hurricane Harvey-led sales from last year.

by on Oct.02, 2018

Fiat Chrysler outsold rival Ford Motor Co. in September, led by strong sales of its Ram pickup truck.

In a dramatic reversal of fortune, Fiat Chrysler Automobiles outsold Ford Motor Co. during the month of September and moved with striking distance of Toyota, the leading Japanese automaker.

FCA US reported U.S. sales of 199,819 vehicles, a 15% increase compared with sales in September 2017 of 174,266 vehicles.

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Meanwhile, Ford Motor’s September U.S. sales declined 11.2% on total sales of 197,404 units. Sales by Toyota Motor North America declined by more 10% with on sales of 203,095 Toyota and Lexus units. (more…)

GM Expands Electric Vehicle Leadership Team

Bolt team leader Fletcher gets plum new role.

by on Sep.24, 2018

Pamela Fletcher, left, will now answer directly to GM CEO Mary Barra.

General Motors is expanding its commitment to its electric vehicle program by moving three top executives into new positions that should elevate the company’s electrification program.

Pamela Fletcher, GM’s vice president of global electric vehicle programs, is getting a new, higher ranking position on Oct. 1: Vice President of Innovation, according to the Detroit News. Fletcher, who once shepherded the development and production of the Chevrolet Bolt, will answer directly GM CEO Mary Barra.

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Fletcher’s been steadily moving up the ladder, moving into her current position last fall. She joins a growing list of women in high-responsibility, high-profile jobs at General Motors. (more…)