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General Motors Co (GM)

GM on New York Consolidated

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26 Aug 2016
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Latest Key Developments (Source: Significant Developments)

Texas jury found that GM car's ignition switch not to blame in fatal crash - AP
Thursday, 25 Aug 2016 04:05pm EDT 

: Texas jury found that GM car's ignition switch not to blame in fatal crash - AP .A Texas jury found that a General Motors ignition switch was not to blame for a 2011 accident that killed one driver and injured another one - AP.  Full Article

Unifor says contract talks with Detroit three automakers begin this week
Monday, 8 Aug 2016 07:00am EDT 

Unifor :Unifor says formal contract talks between Unifor and Detroit three automakers begin this week.  Full Article

GM says July China vehicle sales +18 percent y/y
Wednesday, 3 Aug 2016 10:14pm EDT 

General Motors Co says: July China vehicle sales total 270,529 units, +18 percent y/y, versus +11.2 percent in June . Jan-July China vehicle sales total 2.1 million units, +6.8 percent y/y, versus +3.3 percent year ago .China vehicle monthly sales growth in July highest since at least April 2015, when reporting methodology changed.  Full Article

GM updates on possible costs related to Takata issue
Thursday, 21 Jul 2016 11:46am EDT 

General Motors Co : General Motors Co says related repair of inflators, co estimates reasonably possible cost of up to $320 million for 2.5 million vehicles subject to preliminary DIR . General Motors Co - No provision has been made for any repair associated with co's vehicles subject to preliminary DIR and amended consent order .General Motors Co - Also sees an additional $550 million for up to 4.3 million vehicles subject to future Takata DIRS under the amended consent order.  Full Article

GM Financial posts net income of $189 mln for the June quarter
Thursday, 21 Jul 2016 07:41am EDT 

GM Financial: June quarter net income of $189 million . Available liquidity of $15.4 billion at quarter end . Annualized net charge-offs were 1.7% of average retail finance receivables for quarter ended June 30, 2016 . Retail loan originations were $4.2 billion for quarter ended June 30, 2016, compared to $4.1 billion for quarter ended march 31, 2016 . Consumer loan and lease originations of $10.7 billion for June quarter .Qtrly total revenue $2.29 billion versus $1.52 billion.  Full Article

General Motors reports Q2 earnings per share $1.81
Thursday, 21 Jul 2016 07:30am EDT 

General Motors Co : Q2 earnings per share $1.81 . Q2 earnings per share, ex-items $1.86 . Q2 revenue rose 11 percent to $42.38 billion . Q2 earnings per share view $1.52, revenue view $38.91 billion -- Thomson Reuters I/B/E/S . Q2 EBIT-adjusted profit margin 9.3 percent . Q2 North American EBIT-adjusted profit margin 12.1 percent . Says BREXIT may cost up to $400 million in second half 2016 . Reports $300 million cash expense for cruise automation in second quarter .Global quarterly vehicle deliveries 2.4 million, down 0.1 percent from year earlier.  Full Article

General Motors sees FY2016 adj diluted EPS to be $5.50-$6.00
Thursday, 21 Jul 2016 07:30am EDT 

General Motors Co : GM Financial reported qtrly earnings before tax of $0.3 billion, compared with $0.2 billion . Now expects 2016 full year EPS diluted-adjusted to be $5.50 - $6.00, up from previously announced $5.25 - $5.75 range . GM sees higher proportion of volume from new vehicles each year through 2020 versus prior 5 yrs, increasing to 40 percent of total volume, up from 26 percent in 2015 . Qtrly return on invested capital 30.5 percent versus 23.4 percent .FY2016 earnings per share view $5.65 -- Thomson Reuters I/B/E/S.  Full Article

General Motors declares Q3 dividend of 38 cents per share
Wednesday, 20 Jul 2016 04:37pm EDT 

General Motors Co :Declared a third quarter 2016 dividend of 38 cents per share on the company’s common stock..  Full Article

GM sets quarterly dividend of $0.38 per share
Wednesday, 20 Jul 2016 04:37pm EDT 

General Motors Co :Sets quarterly dividend of $0.38 per share.  Full Article

Judge narrows lawsuit by GM customers seeking damages for lost vehicle value
Friday, 15 Jul 2016 04:01pm EDT 

GM : U.S. judge narrows lawsuit by GM customers relating to lost value of vehicles resulting from 2014 recalls--court ruling . U.S. district judge jesse furman says he grants GM request to dismiss plaintiffs' racketeering claim . Furman says he grants GM request to dismiss claims brought by any plaintiffs whose cars were not allegedly defective when sold . Furman also decides to dismiss some, but not all, of plaintiffs' state law claims . Furman says his decision means a "large swath" of the claims are "foreclosed" . Furman says he rejects plaintiffs' broadest theory of damages, the 'brand devaluation' theory, as "unprecedented and unsound" . Furman says plaintiffs' relief, if any, is limited to benefit-of-the-bargain defect damages, out-of-pocket damages, and the like.  Full Article

GM cleared in second U.S. verdict over crash blamed on ignition switch

NEW YORK A Texas jury said on Thursday a General Motors Co ignition switch, linked to nearly 400 injuries and deaths, was not to blame for a fatal 2011 crash, according to a company statement.