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General Motors Co (GM)

GM on New York Consolidated

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26 Jul 2017
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Latest Key Developments (Source: Significant Developments)

GM says not experienced supply interruptions from Takata insolvency proceedings
Tuesday, 25 Jul 2017 12:44pm EDT 

July 25 (Reuters) - General Motors Co::Company has not experienced any supply interruptions arising from Takata initiating formal insolvency proceedings - SEC filing‍​.Says expects to recognize charge resulting from sale of the European business of about $5.5 to $6.0 billion.Anticipate Takata will continue uninterrupted supply of component parts to GM during insolvency proceedings.Will retain net underfunded pension liabilities of about $7.0 billion primarily to current pensioners, former employees of European business with vested pension rights.  Full Article

General Motors reports Q2 earnings per share from cont ops of $1.60
Tuesday, 25 Jul 2017 09:25am EDT 

July 25 (Reuters) - General Motors Co ::Q2 earnings per share from continuing operations $1.60.Q2 adjusted earnings per share from continuing operations $1.89.Q2 GAAP revenue $37.0 billion.Q2 earnings per share view $1.69, revenue view $40.15 billion -- Thomson Reuters I/B/E/S.Q2 GM North America net income $3.48 billion versus $3.75 billion.Q2 GM international operations net income $340 million versus $190 million.Q2 GM Financial net income $357 million versus $214 million.Says strong Q2 performance supports 2017 FY EPS-adjusted from continuing operations guidance of $6.00 to $6.50.Sees FY 2017 revenue more than or equal to FY 2016 revenue.Sees FY 2017 consolidated company cash flow of about $6 billion.FY2017 earnings per share view $6.07, revenue view $157.18 billion -- Thomson Reuters I/B/E/S.Sees FY 2017 EBIT-adjusted margin of more than or equal to FY 2016 EBIT-adjusted margin.Says for 2017, sees to return up to $7 billion in capital to shareholders with share repurchases of about $5 billion, dividends of about $2.2 billion.Says Q2 was negatively impacted by special items of $654 million.  Full Article

General Motors sets quarterly dividend of $0.38/share
Monday, 24 Jul 2017 11:42am EDT 

July 24 (Reuters) - General Motors Co ::Sets quarterly dividend of $0.38per share.  Full Article

Peugeot says acquisition of Opel Vauxhall Automotive Business approved by EU Antitrust Authorities
Wednesday, 5 Jul 2017 11:36am EDT 

July 5 (Reuters) - Peugeot Sa ::The proposed acquisition of Opel Vauxhall Automotive Business by Groupe PSA is approved by EU antitrust authorities.Acquisition of GM's European Financial operations is also subject to EU antitrust authority's review & decision is expected in second half this year.  Full Article

General Motors June China vehicle sales +4.3 percent y/y
Wednesday, 5 Jul 2017 01:06am EDT 

July 5 (Reuters) - General Motors Co says::June China vehicle sales total 285,191 units, +4.3 percent y/y, versus -0.3 percent in May.Jan-June China vehicle sales total 1,765,828 units, -2.5 percent y/y, versus +5.3 percent year ago.  Full Article

General Motors reported June U.S. retail sales of 202,908 vehicles, down about 3 pct from same period last year
Monday, 3 Jul 2017 09:30am EDT 

July 3 (Reuters) - General Motors Co :General Motors Co - Reported June U.S. retail sales of 202,908 vehicles, down about 3 percent from same period last year.General Motors Co - ‍GM's June total sales were 243,155 vehicles, down about 5 percent from same period last year.​.General Motors Co - ‍"Under current economic conditions, we anticipate U.S. retail vehicle sales will remain strong for foreseeable future."​.General Motors - "U.S. total sales are moderating due to an industry-wide pull-back in daily rental sales, but key U.S. economic fundamentals clearly remain positive".General Motors Co - From an industry standpoint, GM expects second half of 2017 will be stronger than first half.General Motors -‍ Anticipate co will end 2017 with about same day supply of vehicles as co did at end of 2016 with fewer cars, more trucks, crossovers in mix​.General Motors Co - Pickup and utility sales are expected to be stronger in second half of year.  Full Article

-GM settles part of litigation over defective ignition switches
Friday, 23 Jun 2017 01:46pm EDT 

June 23 (Reuters) - * 23-Jun-2017 01:56:10 PM - GENERAL MOTORS REACHES CONFIDENTIAL SETTLEMENT WITH 203 PLAINTIFFS IN IGNITION SWITCH LITIGATION -- COURT FILING * 23-Jun-2017 01:57:02 PM - LAWYERS FOR GM SAY SETTLEMENT COULD RESOLVE HUNDREDS OF STATE COURT CLAIMS AS WELL -- COURT FILING :.  Full Article

General Motors Financial says sees disposal loss of up to $700 mln related to Peugeot S.A. deal
Wednesday, 21 Jun 2017 01:14pm EDT 

June 21 (Reuters) - General Motors Financial Company Inc::Sees disposal loss of up to $700 million related to Peugeot S.A. deal based on current foreign currency exchange rates-SEC filing.  Full Article

GM says Maven Gig expanding initial offering in San Diego to include San Francisco
Tuesday, 20 Jun 2017 12:17pm EDT 

June 20 (Reuters) - General Motors Co ::Maven Gig is expanding initial offering in san diego to now include San Francisco; service will launch in Los Angeles later this year.Additional vehicles, including chevrolet cruze ($189/week+taxes),malibu ($199/week+taxes),trax ($209/week+taxes) can be reserved in san francisco.Maven Gig members can reserve a chevrolet bolt ev for $229 per week plus taxes.  Full Article

GM plans to open new supplier park at its Arlington assembly
Friday, 16 Jun 2017 01:04pm EDT 

June 16 (Reuters) - General Motors Co ::General Motors says plans to open a new supplier park to support future vehicle production at its Arlington assembly.New park expected to house up to 1,250 employees, including bringing more than 850 new jobs to Arlington, Texas.Park is expected to be operational in 2018.  Full Article

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Peugeot hits new profit record as stronger pricing prevails

PARIS PSA Group reported record profitability at its core manufacturing division in the first half as stronger pricing enabled the maker of Peugeots and Citroens to overcome weaker sales in Europe and China. | Video