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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 24, 2012

Obama selling point: I saved the auto industry

On the day I took office, our auto industry was on the verge of collapse. Some even said we should let it die. With a million jobs at stake, I refused to let that happen. In exchange for help, we demanded responsibility. We got workers and automakers to settle their differences. We got the industry to retool and restructure. Today, General Motors is back on top as the world’s number one automaker. Chrysler has grown faster in the U.S. than any major car company. Ford is investing billions in U.S. plants and factories. And together, the entire industry added nearly 160,000 jobs. We bet on American workers. We bet on American ingenuity. And tonight, the American auto industry is back.

Was this the right thing for us to do, seeing the success we’ve had? (more here)

21:25 // 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
November 27, 2010

General Motors officially crosses the “biggest IPO ever” mark

  • $23.1
    the size of GM’s IPO, officially the biggest global IPO on record
  • $49.5
    the amount they owe the government for their bailout source

» What’s needed next? If the government hopes to break even on its huge investment in GM, the stock needs to hit around $50 a share. It’s currently at $33.80, but if, say, the Chevy Volt is a huge success on the market, it could definitely hit that mark.

11:43 // 3 years ago