Fiat exercises options to increase stake in Chrysler to 65% 5:27 pm U.S. ET | Jan. 3, 2013  Fiat plans to boost its stake in Chrysler Group to 65 percent by exercising its option to purchase an additional 3.3 percent from the UAW's retiree health-care fund.... Read More »
GM sheds some 'Government Motors' stigma with $5.5 billion stock purchase 8:06 am U.S. ET | Dec. 19, 2012  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. 31, the government will own about 300 million shares, for a fully diluted stake of 19 percent. The federal government intends to unload its entire stake in GM within 12 to 15 months, the Treasury said separately.... Read More »
Analysts, investors, others react to GM's move to purchase shares held by U.S. 11:42 am U.S. ET | Dec. 19, 2012  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.... Read More »
NICK GIBBS Aston Martin fans won't be cheered by deal with private equity group 12:01 am U.S. ET | Dec. 7, 2012  The news that private equity firm InvestIndustrial will buy a 37.5 percent stake in Aston Martin won't be well received by fans of the brand. They would certainly have preferred to see contender Mahindra and Mahindra or another carmaker sign the deal.... Read More »
Daimler will sell half of EADS holding to focus on autosDec. 6, 2012 06:01 CET  Daimler is selling half its remaining stake in the European Aeronautic, Defence & Space Co. (EADS) to focus on cars and trucks. The sale will raise about 1.66 billion euros ($2.17 billion).... Read More »
Tesla was cash flow positive last week, CEO Musk says 1:18 pm U.S. ET | Dec. 4, 2012  Tesla Motors, the maker of electric vehicles led by billionaire Elon Musk, was cash flow positive last week, the CEO said Monday in a posting on Twitter.... Read More »
EDITORIAL Uncle Sam should sell his GM shares 12:01 am U.S. ET | Nov. 26, 2012 The Obama administration needs to start selling the federal government's stock in General Motors.... Read More »
UAW trust demands Fiat pay $342 million for Chrysler stake 5:54 pm U.S. ET | Nov. 12, 2012  Fiat must more than double its offer for a 3.3 percent stake in automaker Chrysler that is held by a union-related trust, the trust claimed in a countersuit filed on Monday. Fiat's offer of $139.7 million is "substantially below fair market value," the UAW-affiliated trust said in documents filed in Delaware's Court of Chancery.... Read More »
VW sells 2.5 billion euros in bonds to raise cash after buying Porsche, DucatiNov. 6, 2012 12:49 CET  Volkswagen has sold 2.5 billion euros ($3.2 billion) in bonds in order to boost liquidity after recently adding Porsche and Ducati to its brand portfolio. Analysts said the money may be used to complete the takeover of German truckmaker MAN SE, which VW already controls.... Read More »
ELECTION 2012 Would Romney dump GM shares on Day One? Don't count on it 12:01 am U.S. ET | Oct. 29, 2012 Republican presidential nominee Mitt Romney has vowed to quickly sell the U.S. Treasury's stake in General Motors if he's elected. Analysts say that suddenly dumping the government's 500 million GM shares would depress GM's stock price. But they also think it's unlikely to play out that way if Romney takes office in January.... Read More »
Aabar sells Daimler voting stake as Europe decline hurts car profitOct. 12, 2012 06:01 CET  Aabar Investments sold its remaining voting stake in Daimler AG two weeks after the world's third-biggest luxury-car manufacturer predicted the European auto-market contraction will hurt profit at its main brand. The Abu Dhabi sovereign-wealth fund disposed of its 3.1 percent holding on Oct. 5.... Read More »
Daimler says Abu Dhabi fund has sold its 3% stake 3:24 pm U.S. ET | Oct. 11, 2012 Abu Dhabi's sovereign wealth fund Aabar sold its remaining 3.07 percent stake in Daimler AG worth about 1.25 billion euros ($1.6 billion) on Oct. 5, the German carmaker said in a regulatory filing today.... Read More »
Navistar rises after conceding board seats to Icahn, investor 4:19 pm U.S. ET | Oct. 8, 2012  Shares in Navistar International, the truck- and engine-maker trying to end losses, rose the most in more than a month after it averted a proxy fight with investor Carl Icahn by agreeing to accept three new directors.... Read More »
EV truckmaker cancels its IPO but pushes ahead 12:01 am U.S. ET | Oct. 8, 2012 Bryan Hansel, CEO of Kansas City, Mo., electric-truck maker Smith Electric Vehicles, thought the investment community was on board with his plans for electrifying urban delivery trucks across America. But on the night of Sept. 20, Hansel had to pull the plug on Smith's eagerly awaited initial stock offering.... Read More »
GM stock sale not easy for Canada, U.S. to time 12:01 am U.S. ET | Oct. 6, 2012  Canada may have trouble unloading its $3.5 billion stake in General Motors, as there won't be many "buying triggers" to spur a sale, according to documents from the agency that manages the shares.... Read More »
Daimler shareholder Abu Dhabi is exiting investment, report saysOct. 3, 2012 19:44 CET Abu Dhabi is exiting its investment in German carmaker Daimler AG, a German magazine reported, citing unidentified people within Daimler. Abu Dhabi's sovereign wealth fund Aabar is transferring the rights to the last 3 percent of the shares it holds in Daimler to Deutsche Bank, manager magazin said.... Read More »
Daimler shareholder Abu Dhabi is exiting investment, report says 1:44 pm U.S. ET | Oct. 3, 2012 Abu Dhabi is exiting its investment in German carmaker Daimler AG, a German magazine reported, citing unidentified people within Daimler. Abu Dhabi's sovereign wealth fund Aabar is transferring the rights to the last 3 percent of the shares it holds in Daimler to Deutsche Bank, manager magazin said.... Read More »
TRW to spend $1 billion on share buybacks 11:43 am U.S. ET | Oct. 1, 2012 Automotive safety systems supplier TRW Automotive said today it would spend up to $1 billion to buy back its shares.... Read More »
Tesla shares rise after expanding stock offering 1:24 pm U.S. ET | Sept. 28, 2012 Shares in Tesla Motors, the electric-car maker led by Elon Musk, this afternoon rose about 3 percent today after the company expanded a stock offering.... Read More »
Tesla cuts revenue forecast due to slow Model S rollout 10:44 am U.S. ET | Sept. 25, 2012  Electric car maker Tesla Motors today cut its forecast for 2012 revenue because of a slower-than-expected rollout of its Model S sedan, sending its shares down almost 10 percent.... Read More »
Smith Electric Vehicles' IPO expected to raise about $76 million 6:03 pm U.S. ET | Sept. 6, 2012 Smith Electric Vehicles, which makes emission-free electric vehicles, said it expected to sell 4.45 million shares at between $16 and $18 in its initial public offering. The company will sell 4.2 million shares in the offering, while selling stock holders will offer the rest. At the mid-point of the range, the IPO will raise about $76 million.... Read More »
Musk says he may form holding company for Tesla, SpaceX 3:52 pm U.S. ET | Aug. 30, 2012  Elon Musk, co-founder of Tesla Motors and founder of Space Exploration Technologies, said he’s interested in creating a holding company for shares of his electric car and rocket launch businesses.... Read More »
Visteon shares rise 5% as tax seen limited in Halla deal 3:47 pm U.S. ET | Aug. 23, 2012  Visteon, the auto-parts maker focusing on growing Asian operations, surged to its highest price in three months after a UBS Securities LLC analyst report said there would be a “limited” capital-gain tax impact from divesting its stake in South Korea's Halla Climate Control.... Read More »
Tesla's Musk gets option for 5.27 million shares as incentiveAug. 17, 2012 06:01 CET  Tesla CEO Elon Musk was granted an option to buy 5.27 million shares in the maker of luxury electric cars as part of a long-term compensation plan to keep him at the company.... Read More »
Tesla’s Musk gets option for 5.27 million shares as incentive 9:21 am U.S. ET | Aug. 16, 2012  Tesla CEO Elon Musk was granted an option to buy 5.27 million shares in the maker of luxury electric cars as part of a long-term compensation plan to keep him at the company.... Read More »
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