Key Developments: General Motors Co (GM.N)

GM.N on New York Stock Exchange

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1 Aug 2013
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Latest Key Developments (Source: Significant Developments)

General Motors Co India Recalls 114,000 Chevrolet SUVs-DJ
Wednesday, 24 Jul 2013 07:40am EDT 

Dow Jones reported that General Motors Co is recalling 114,000 Chevrolet Tavera sport-utility vehicles in India to fix issues relating to emission standards and other government specifications. GM India also suspended the production of the Tavera, until it resolves the issues for which the Company said it has found a solution. It is awaiting regulatory approvals for the solution, the Company said on July 24, 2013. The Bharat Stage-3 version of the Tavera had an emissions-related issue, while the Bharat Stage-4 version had an issue meeting certain specifications, it said. The Company didn't elaborate on the problems, but said they don't pose any safety risk. After the proposed solution receives approval from authorities, General Motors India will resume Tavera production and sale, and move forward with its recall and customer notification plan for both the BS3 and BS4 models, the Company said.  Full Article

Honda Motor Co Ltd And General Motors Co To Tie Up In Car Fuel Cell System Technology-DJ
Tuesday, 2 Jul 2013 01:42am EDT 

Dow Jones reported that General Motors Co and Honda Motor Co Ltd will team up in the pollution free fuel cell vehicle business, a person with knowledge of the plan said, in the latest instance of global car makers becoming far more aggressive in forming partnerships in the field of environmental technology to cut costs and speed up development times. The two car makers will announce the tie-up on Tuesday in the U.S.  Full Article

General Motors Co's S.Korea Workers To Stage Partial Strike Over Wages-Reuters
Wednesday, 26 Jun 2013 09:39pm EDT 

Reuters reported that Workers at General Motors Co's factories in South Korea, a key manufacturing base for the U.S. automaker, will stage a partial walkout on July 4, 2013 because of disputes over wages and production plans, a union spokesman said.  Full Article

General Motors Co Expands SUV Recall To Cover All U.S. States-DJ
Monday, 17 Jun 2013 02:15pm EDT 

Dow Jones reported that General Motors Co. said it is expanding an existing recall to include an additional 193,652 midsize sport-utility vehicles due to concerns of a possible fire hazard. The original safety recall, initiated and involving 258,000 SUVs, covered 20 states and the District of Columbia, and the latest move covers all states. GM said it is rare that a fire might start while the vehicle is unattended. Overall, the Company said there have been 58 fires and 11 minor injuries reported. The recall covers Chevrolet TrailBlazer, GMC Envoy, Buick Rainier, Isuzu Ascender and Saab 97-X SUVs from the 2006 and 2007 model years, GM said, adding that dealers will make repairs free of charge.  Full Article

General Motors Co Recalls SUVs-Reuters
Sunday, 16 Jun 2013 03:06pm EDT 

Reuters reported that General Motors Co is recalling about 231,000 sport utility vehicles (SUV) that might be in danger of an electrical short that could cause a fire. The move is an expansion of a recall from last August to check 249,000 SUVs for a short in a circuit board in the driver's door that could lead to a fire. Vehicles involved in both recalls include the 2006 Chevrolet Trailblazer EXT and GMC Envoy XL and 2006-2007 Chevrolet Trailblazer, GMC Envoy, Buick Rainier, Saab 9-7X and Isuzu Ascender. Of the more than 480,000 recalled SUVs, about 443,000 are in the United States, GM said. The automaker said it has received 58 reports of vehicle fires and 11 minor injuries related to the issue, most of them on vehicles in the original recall.  Full Article

General Motors Co Halts Sales Of Three Models-Business Standard
Tuesday, 11 Jun 2013 10:30am EDT 

Business Standard reported that General Motors Co has temporarily halted retail sales of diesel versions of Sail, Sail UVA and Tavera owing to technical issues. The Company said that it had identified some emission related issue with the Tavera and some quality issue with the Sail product line thereby asking its dealers to stop accepting bookings for these models. None of the issues are safety related. The makers of Chevrolet brand of cars had to suspended production of these vehicles early last week and has engaged technical officials from the US to sort the matter. The Delhi-based company is working towards resolving the issue as early as possible.  Full Article

General Motors Co Recalls Some 2013-14 Cars To Fix Brake Lamps, Cruise Control Glitch-Reuters
Wednesday, 5 Jun 2013 11:09am EDT 

Reuters reported that General Motors Co is recalling 1,627 new Cadillac and Chevrolet sedans to correct an electrical glitch in the brake lamps and the cruise control. The recalled cars include the just introduced 2014 Chevrolet Impala, as well as the 2013 Cadillac ATS and XTS, both released last year. GM, in a statement, said the brake lamps on a small number of vehicles may flash intermittently without the brake pedal being applied. The condition also could cause the cruise control to disengage.  Full Article

General Motors Co To Sell More GM Shares As It Winds Down Stake-Reuters
Wednesday, 5 Jun 2013 02:51am EDT 

Reuters reported that the Treasury Department announced the plans to sell 30 million shares of General Motors Co common stock as part of its ongoing effort to wind down the government's stake in the bailed out automaker. The Treasury said it would sell the shares in a public offering in conjunction with the Company's inclusion to the Standard & Poor's 500 index on June 6, which should help spur demand for the stock. The offering will take place along with the sale of 20 million shares of GM stock held by the UAW Retiree Medical Benefits Trust, bringing the total size of the sale to 50 million shares.  Full Article

NHTSA Probes Air-Bag Issue In 400,000 General Motors Co Cars-Reuters
Tuesday, 4 Jun 2013 12:10pm EDT 

Reuters reported that Safety regulators are investigating whether to expand a General Motors Co recall to 400,000 vehicles to address a potential issue with the driver-side air bag. GM previously recalled 6,845 cars, including the 2012 Chevrolet Cruze, Sonic and Camaro and the 2012 Buick Verano, for the problem. The recalls were issued in October 2012 and January 2013. An electrical short could cause the driver-side air bag not to deploy in a crash in those vehicles, according to GM and the National Highway Traffic Safety Administration.  Full Article

General Motors Co To Add Four More Plants In China-Reuters
Saturday, 20 Apr 2013 08:28am EDT 

Reuters reported that General Motors Co will add four new plants in the next three years in China to bring its production capacity to five million vehicles a year, the head of GM China said at the Shanghai auto show. The four new factories will bring to 17 the number of assembly plants owned by GM and its partners, and increase production by another 30%.  Full Article

Chrysler leads as Canadian July auto sales set record

TORONTO - Canadian auto sales soared more than 7 percent to a record high for the month of July, industry data released on Thursday showed, with Chrysler outselling Ford Motor Co and General Motors Co and Japan's three big automakers all with double digit gains.

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