General Motors plans to move production of the next-generation Chevrolet Camaro to Michigan from Canada. The Camaro, currently made in Oshawa, Ontario, will be built at the Lansing Grand River Assembly Plant in Lansing, Mich., GM said today in a statement.
General Motors took a big step toward shedding its “Government Motors” stigma today by disclosing plans to buy 200 million GM shares from the U.S. Treasury for $5.5 billion. After GM's sale, which should close by Dec.
Infiniti will build its new premium compact hatchback in the UK. Production of the entry-level model will begin in 2015 for global markets at parent Nissan's plant in Sunderland, England, Infiniti said.
GM said it will buy back 200 million of its shares from the U.S. Treasury and the government plans to sell its remaining stake within 15 months, all but assuring a multibillion dollar loss. Analysts react to the move.
The U.S. Treasury said on Wednesday it will sell 200 million shares in General Motors and divest the rest of its holdings over the next 12 to 15 months, ending public ownership of the company rescued by taxpayers in 2009.
Credibility. It's a precious commodity in the car business, something that's hard fought, easily lost and takes years to rebuild. And General Motors has just earned back a little bit more of its historic standing.
In the past few years, Toyota Financial Services CEO George Borst has outlined in speeches and interviews the benefits of sticking with leasing during the downturn when most other auto lenders cut back or even fled the business.
Canada has no immediate plans to sell its stake in General Motors, Finance Minister Jim Flaherty said on Wednesday following news the U.S. Treasury will sell its entire stake in GM over 15 months, but he said the stake will be sold eventually.
Private equity firm Carlyle Group LP today completed the sale of Metaldyne LLC for about $820 million to another buyout firm, its second divestment of an American auto parts supplier it picked up from bankruptcy in as many years.
Ally Financial, the former General Motors finance unit now 74 percent owned by the federal government, said it has repaid its remaining debt issued under a financial-crisis-era program designed to bolster confidence in the banking system.
Johnson Controls plans to build 10 more auto seating plants in China over the next five years as part of a long-term strategy that calls for continued growth in China and slow expansion in the North American market to offset expected slowdowns in Europe.
Chrysler is one step closer to a new transmission plant in Indiana after a local council approved a tax abatement late Tuesday. The Tipton County Council approved a 10-year tax abatement worth $2.5 million, according to the Kokomo Tribune, a local newspaper.
Several factors look good for auto finance growth in 2013, TransUnion says. They are low interest rates, low delinquencies, more and bigger auto loans, sharper competition among auto lenders, and high replacement demand.