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December 10, 2013
General Motors’ Senior Vice President Mary Barra has been chosen as the next CEO of the auto giant, becoming the first female executive to hold the top spot in the history of the global automotive industry. Barra has been a GM employee for more than three decades, rising from intern to head of product development during that time, and will officially replace current CEO Dan Akerson next month. (Photo via Fortune Live Media) source

General Motors’ Senior Vice President Mary Barra has been chosen as the next CEO of the auto giant, becoming the first female executive to hold the top spot in the history of the global automotive industry. Barra has been a GM employee for more than three decades, rising from intern to head of product development during that time, and will officially replace current CEO Dan Akerson next month. (Photo via Fortune Live Mediasource

18:19 // 4 months ago
November 21, 2013
14:43 // 4 months ago
May 15, 2012
21:46 // 1 year ago
May 1, 2012

Auto industry surprise: Chrysler on an upswing, GM & Ford struggle

  • +20% Chrysler’s sales increase in April, its best April in four years
  • -4.7% Ford’s sales decrease in April, caused by a decline in luxury sales
  • -8.2% GM’s sales decrease in April, caused by poor fleet sales source

» Chrysler’s best quarterly profit in 13 years: Just a couple years away from a bailout that shook the company to the core and the merger with Fiat that saved it, Chrysler is on a little bit of a winning streak, with several car models posting their best monthly results ever.

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10:29 // 1 year ago
February 16, 2012

Still think Detroit’s going bankrupt? Check out GM’s killer numbers

  • $4.7 billion General Motors’ posted earnings for the 2010 fiscal year
  • $7.6 billion General Motors’ posted earnings for the 2011 fiscal year source

» What a record to break! One year removed from bankruptcy, American automaker General Motors posted record-setting earnings for the 2011 fiscal year. In recent weeks/months many investors worried that GM’s overseas operations would drag down the company’s year-end totals. GM lost a total of $747 million in European markets, with $562 million of the losses occurring in the fourth quarter alone. In South America, where the company reported $818 million in earnings for 2010, GM reported a net loss of $122 million. However, not only did the company defy global expectations, GM managed to break its former $6.7 billion earnings record, set in 1996.

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18:39 // 2 years ago
January 9, 2012

Auto industry recovery: Detroit Auto Show reflects a reversal of fortunes

  • 4-9% expected increase in U.S. auto sales in 2012 source

» Pulling out the big guns: This week’s Detroit Auto Show is a giant coming-out party for an auto industry that was struggling to keep the engine running just a couple of years ago. But, while those times are certainly not gone entirely, they’ve certainly improved in recent years, which reflects in the boldness of this year’s models. In fact Chrysler, the weakest of the the three auto companies, is actually looking like a bright spot for Fiat, whose Chief Executive, Sergio Marchionne, invested in the company at its weakest point. ”He entered Chrysler at rock bottom and will now capitalize on a U.S. recovery — the timing was perfect,” said automotive analyst Philippe Barrier. But maybe you’re like us and you don’t care about the specifics of the recovery and just want to see cool new cars. Well, the Detroit Free Press has you covered.

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11:18 // 2 years ago
September 16, 2011
As America struggles with record levels of unemployment, we aimed to protect the jobs of our members - to guarantee good American jobs at a good American company. And we have done that. This contract will get our members who have been laid off back to work, will create new jobs in our communities and will bring work back to the United States from other countries.
UAW President Bob King • Announcing an agreement with General Motors on a new four-year contract. They haven’t made specifics available, but the UAW says they successfully fought back on retirement plan and health care changes, while improving profit-sharing.
23:35 // 2 years ago
April 18, 2011
17:27 // 3 years ago
February 24, 2011

General Motors’ good year: Their first full-year profit since ‘04

  • $100 billion the amount GM lost between 2005 and 2009, when they had to be bailed out by the feds
  • $4.7 billion the amount they earned in 2010 – they’re doing the Dougie in the boardroom today source

» It’s not all up-and-up, though: At $510 million, the company’s fourth-quarter numbers, while still profitable, paled in comparison to the rest of the year. Still though, the fact that it’s a profit is definitely Dougie-worthy, no matter how you look at it.

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21:34 // 3 years ago
January 10, 2011
I haven’t gotten any questions yet today like, ‘Will you be here next year?’
Chrysler chief executive Sergio Marchionne • On the company’s slow bounceback. Chrysler hasn’t had the dramatic turnaround that Ford and GM have had since the nadir of the financial crisis, but they appear to be making headway with a new generation of vehicles – particularly the newest Jeep Grand Cherokee, which has done well despite the fact that SUVs have fallen out of fashion lately. The company’s collaboration with Fiat has also helped buoy Chrysler. So, how about paying back those loans from the bailout and other sources? “We are going to repay one hundred cents on every dollar of loans we received,” Marchionne said. source (viafollow)
21:21 // 3 years ago