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General Motors News -  View All

  • GM's Indonesia closure highlights automakers' emerging markets woes
    Thu, 26 Feb 2015 12:41:51 -0800
    General Motors Co's decision to shutter a car factory in Indonesia comes as global automakers rethink the timing and scope of investments in emerging markets once touted as engines of growth. Global automakers poured billions into Brazil, Russia, India, China and other emerging markets during the past few years.

  • GM to stop auto production in Indonesia
    Thu, 26 Feb 2015 11:33:04 -0800
    General Motors, the largest US automaker, said Thursday that it would stop manufacturing in Indonesia this year, but would continue selling its Chevrolet brand in the country through its dealerships. The plant currently produces the Chevrolet Spin, a small family van, for Indonesia and other ASEAN markets. "Several factors contributed to GM's decision, including high material costs and reduced ...

  • Layoffs spark General Motors strike in Brazil
    Fri, 20 Feb 2015 12:21:11 -0800
    Some 3,000 workers at a General Motors plant in Brazil went on an open-ended strike Friday over planned layoffs. The metalworkers union at the plant in Sao Jose dos Campos in southeastern Sao Paulo state said the strikers had downed tools to protest the planned firing of 794 staff suspended in September but who resumed working last week. Some 2,000 afternoon shift workers were set later Friday ...

  • GM cutting production at two North American car plants: source
    Wed, 25 Feb 2015 12:55:57 -0800
    General Motors Co is cutting production at two of its North American car plants as supplies of vehicles including the Chevrolet Sonic and Buick Regal rise, a person familiar with the company's plans said on Wednesday. Automotive News initially reported GM's plans for its plants in Lake Orion, Michigan, and Oshawa, Ontario, citing sources. GM scheduled downtime for March 9-13 at its Orion plant ...


Auto Dealers News -  View All

  • U.S. Justice Dept questions JPMorgan over auto lending practices
    Tue, 24 Feb 2015 15:17:35 -0800
    By Peter Rudegeair NEW YORK (Reuters) - JPMorgan Chase & Co said on Tuesday the bank has been questioned by the U.S. Department of Justice over auto lending practices that possibly resulted in discrimination. The largest U.S. bank said in an annual filing with the U.S. Securities and Exchange Commission that the Justice Department is looking at whether auto loans made by car dealerships to ...

  • Exclusive: Ally assumes it will lose entire GM leasing business - CEO
    Thu, 19 Feb 2015 13:45:18 -0800
    By Peter Rudegeair NEW YORK (Reuters) - Ally Financial Inc is taking steps to replace its remaining exclusive leasing deals with General Motors Co , betting that the largest U.S. carmaker will eventually finish taking that business in-house, the auto lender's chief executive said in an interview. GM has already said that its financing arm, GM Financial, would replace Ally as the exclusive lessor ...


Minority Dealers News -  View All

  • U.S. Justice Dept questions JPMorgan over auto lending practices
    Tue, 24 Feb 2015 15:17:35 -0800
    By Peter Rudegeair NEW YORK (Reuters) - JPMorgan Chase & Co said on Tuesday the bank has been questioned by the U.S. Department of Justice over auto lending practices that possibly resulted in discrimination. The largest U.S. bank said in an annual filing with the U.S. Securities and Exchange Commission that the Justice Department is looking at whether auto loans made by car dealerships to ...

  • Friction over India's beef trade heats up after attacks
    Tue, 24 Feb 2015 13:09:28 -0800
    By Meenakshi Sharma MUMBAI (Reuters) - Hindu nationalists in India have stepped up attacks on the country's beef industry, seizing trucks with cattle bound for abattoirs and blockading meat processing plants in a bid to halt the trade in the world's second-biggest exporter. The industry is predominantly run by Muslim traders, but some groups in the majority Hindu population vehemently oppose it ...

  • Federal prosecutors drop dozens of stash house sting charges
    Thu, 29 Jan 2015 23:45:24 -0800
    CHICAGO (AP) — The U.S. attorney's office in Chicago has quietly dropped dozens of serious narcotics conspiracy charges stemming from undercover stings involving fictional drug stash houses, a federal law enforcement technique critics contend amounts to entrapment and displays racial bias against minorities.

  • What clever robots mean for jobs
    Wed, 25 Feb 2015 07:12:02 -0800
    Experts rethink belief that tech always lifts employment as machines take on skills once thought uniquely human.


Auto Sales News -  View All

  • Exclusive: Brazil wants to renew Mexico auto quotas, avoid free trade
    Thu, 12 Feb 2015 17:26:46 -0800
    By Ana Isabel Martinez and Krista Hughes MEXICO CITY/WASHINGTON (Reuters) - Grappling with tumbling auto sales and weak economic growth, Brazil wants to renew an auto quota pact with Mexico that is set to expire in March, a move that could stoke trade tensions. A treaty between the two nations and auto manufacturers, which sets quotas on how many light vehicles Mexico and Brazil can sell each ...

  • Exclusive: Brazil seeks to block return to free trade in autos with Mexico - sources
    Thu, 12 Feb 2015 14:16:22 -0800
    By Ana Isabel Martinez and Alonso Soto MEXICO CITY/BRASILIA (Reuters) - Grappling with tumbling auto sales and weak economic growth, Brazil wants to derail a pact that would allow unlimited imports of cars from Mexico, sources familiar with the situation say, in a move that could stoke trade tensions between Latin America's largest economies.     A treaty between the two nations and auto ...

  • GM hikes dividend as quarterly earnings rise
    Wed, 04 Feb 2015 08:05:14 -0800
    General Motors on Wednesday reported a jump in quarterly earnings on strong auto sales as it boosted its dividend. GM, the largest US automaker, said net income grew 21 percent to $1.1 billion in the fourth quarter. In Europe, GM lost $393 million in the quarter compared with a loss of $365 million a year ago. Worldwide auto sales grew 3.3 percent in the quarter to 2.6 million, with big gains in ...


General Motors Dealers News -  View All

  • Exclusive: Ally assumes it will lose entire GM leasing business - CEO
    Thu, 19 Feb 2015 13:45:18 -0800
    By Peter Rudegeair NEW YORK (Reuters) - Ally Financial Inc is taking steps to replace its remaining exclusive leasing deals with General Motors Co , betting that the largest U.S. carmaker will eventually finish taking that business in-house, the auto lender's chief executive said in an interview. GM has already said that its financing arm, GM Financial, would replace Ally as the exclusive lessor ...

  • Exclusive: GM's Barra faces roadblocks in rebuilding Cadillac brand
    Mon, 09 Feb 2015 22:06:01 -0800
    General Motors Co Chief Executive Mary Barra's strategy of rebuilding the Cadillac brand has run into twin roadblocks: the carmaker can't persuade enough American sedan buyers to switch from foreign competitors such as BMW or Mercedes, and it can't make enough of its Escalade SUVs to satisfy domestic demand. By contrast, its dealers are offering discounts of thousands of dollars on the ATS sedan ...