Stock ActivityAston Martin shareholder asks lenders for 50% cut on debt, sources sayJune 18, 2013 11:49 CET Aston Martin shareholder Investment Dar is asking its creditors to take a 50 percent write-down on the of Kuwaiti company's debt as it seeks to meet repayments after defaulting on a loan three years ago, three people familiar with the matter said.... Read More »
Porsche-Piech family buys Qatar's 10% stake in VW's majority ownerJune 17, 2013 11:19 CET  The Porsche-Piech family bought Qatar Holding's 10 percent stake in Porsche Automobil Holding SE to regain full control of the majority owner of Volkswagen Group.... Read More »
Marchionne said to be finalizing Fiat-Chrysler refinancingJune 14, 2013 15:47 CET  Fiat-Chrysler CEO Sergio Marchionne is closing in on refinancing deals for both automakers ahead of a plan to merge the two companies.... Read More »
Supplier IAC files for $115 million IPO 7:36 pm U.S. ET | June 14, 2013  International Automotive Components Group, backed by billionaire U.S. investor Wilbur Ross, filed with U.S. regulators on Friday to raise up to $115 million in an initial public offering of common stock.... Read More »
AutoNation's largest shareholder reduces stake to 32% 12:40 pm U.S. ET | June 14, 2013  AutoNation's largest shareholder, Edward Lampert, has reduced his stake in the nation's biggest dealership group to meet client redemptions from his main hedge fund.... Read More »
Marchionne said to be finalizing Fiat-Chrysler refinancing deals 9:47 am U.S. ET | June 14, 2013  Chrysler-Fiat CEO Sergio Marchionne is closing in on refinancing deals for both automakers ahead of a plan to merge the two companies, people familiar with the matter told Bloomberg.... Read More »
Nexteer Automotive launches up to $325 million stock offer 11:54 am U.S. ET | June 14, 2013  Nexteer Automotive, the world's fifth-largest supplier of steering systems, today began launching an initial public stock offering worth up to $325 million in Hong Kong, braving a volatile local stock market and tepid demand for new stock listings here.... Read More »
Akerson: GM's bailout era is overJune 14, 2013 06:01 CET  GM executives eager to shed the stigma of government ownership got two doses of welcome news ahead of last week's annual shareholders' meeting. First, Standard & Poor's said that GM would rejoin its S&P 500 stock market index for the first time since before GM's 2009 bankruptcy, boosting the share price. That prompted the U.S. Treasury Department to sell 30 million shares in a public offering, and the UAW's GM retiree health care trust to unload 20 million shares.... Read More »
VW bond sale is not preparation for further takeovers, report saysJune 13, 2013 09:28 CET  Volkswagen's second bond sale in seven months aims to bolster finances strained by takeovers, rather than readying the group to add further acquisitions to its 12-brand portfolio, sources close to the German automaker said.... Read More »
GM targeting investment grade rating 'within a year' 2:14 pm U.S. ET | June 12, 2013  General Motors said it is targeting an investment grade credit rating "within the year" as the Detroit automaker works to distance itself from the stigma of its 2009 bankruptcy.... Read More »
Akerson: GM's bailout era is over 12:01 am U.S. ET | June 10, 2013  General Motors executives eager to shed the stigma of government ownership got two doses of welcome news ahead of last week's annual shareholders' meeting. First, Standard & Poor's said that GM would rejoin its S&P 500 stock market index for the first time since before GM's 2009 bankruptcy, boosting the share price. That prompted the U.S. Treasury Department to sell 30 million shares in a public offering, and the UAW's GM retiree health care trust to unload 20 million shares.... Read More »
GM share sale highlights U.S. auto revival as an economic pillar 9:13 am U.S. ET | June 6, 2013  The Obama administration's decision to sell more of its stake in General Motors underscores the resurgence of a domestic auto industry that emerged from near-collapse to become a pillar of economic growth.... Read More »
U.S. Treasury to sell 30 million more GM shares 9:31 am U.S. ET | June 5, 2013  The federal Treasury Department said it plans to sell 30 million additional shares of General Motors common stock in an offering that will also include 20 million shares from the UAW union's GM retiree health-care trust.... Read More »
'Affordable' Tesla to arrive in late 2016 9:20 pm U.S. ET | June 4, 2013  Tesla Motors will launch its smaller electric sedan in late 2016, with a range of at least 200 miles and a price point "half" of the flagship Model S, Tesla CEO Elon Musk said.... Read More »
GM's inclusion on the S&P 500 marks another step in recovery 10:08 am U.S. ET | June 4, 2013  General Motors, four years after being kicked out of the Standard & Poor's 500 Index, will heal another wound of the financial crisis when it rejoins the benchmark gauge for American equities this week.... Read More »
Energy, real estate rebound driving pickup sales, Detroit 3 share gains 12:34 am U.S. ET | June 4, 2013  Record energy production coupled with a sustained housing recovery are pushing pickup sales to the highest level in as much as eight years and driving Detroit's comeback. Detroit's 3 automakers have gained 1.2 points of market share this year, the first time all three have gained share during the January- though-May period in at least 18 years, as sales continue on a pace for the best year since 2007.... Read More »
Fiat owner Exor sells stake in SGS for $2.6 billionJune 3, 2013 11:19 CET  Exor, the Agnelli family company which controls Fiat, has sold a 15 percent stake in Swiss company SGS for 2 billion euros ($2.6 billion). The move frees up resources ahead of the automaker's planned merger with Chrysler Group.... Read More »
Nexteer plans to launch $400 million IPO this week, report says 10:07 am U.S. ET | June 3, 2013  Nexteer Automotive, the Michigan-based auto supplier controlled by China's biggest aerospace company, plans to start gauging demand for an initial share sale this week, two people with knowledge of the matter told Bloomberg.... Read More »
GM still has much to prove to investors 12:01 am U.S. ET | June 3, 2013  Asked last month whether General Motors cleared a psychological hurdle recently when its stock rose above the $33 price of its initial public offering, GM North America President Mark Reuss laughed and said, "Yes." Then he quickly changed the subject.... Read More »
Federal-Mogul names new co-CEO, unveils stock rights offer 3:29 pm U.S. ET | May 29, 2013  Federal-Mogul, the auto supplier controlled by longtime Wall Street deal maker Carl Icahn, has named a new co-CEO who also will head the company's aftermarket product operations. The company also announced that it would launch a $500 million stock rights offering to refinance debt.... Read More »
PSA denies report of share sale to raise capitalMay 29, 2013 13:19 CET  PSA has denied a French newspaper report that said it was planning to sell new shares to raise capital. The automaker says it is committed to reducing its cash-consumption rate 50 percent in 2013 and reaching the break-even level by 2014 after burning through 3 billion euros ($3.87 billion) last year.... Read More »
Tesla stock surges past $100 for first time 9:34 am U.S. ET | May 28, 2013  Tesla Motors stock surged past the $100-a-share level for the first time as the company prepares to announce an expansion of its charger network for its vehicles this week.... Read More »
FINAL ASSEMBLY Tesla's soaring stock price buries short sellers 12:01 am U.S. ET | May 20, 2013 The recent rocket ride of Tesla stock has put the hurt on holders of "shorts" -- those gambling that the price of the stock will fall.... Read More »
GM shares return to $33 IPO price on optimism for truck sales 10:19 am U.S. ET | May 17, 2013  Shares in GM topped its $33 initial public offering price for the first time in more than two years as the automaker prepares to introduce redesigned full-sized pickups.... Read More »
Tesla expands share, debt offering to repay U.S. loan, hike cash 10:34 am U.S. ET | May 17, 2013  Tesla Motors increased the size of its equity and debt offerings by 30 percent to as much as $1.08 billion to repay its U.S. loan and build up cash reserves.... Read More »
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Special Report
 Dealer O.C. Welch's big-truck turnaroundAfter Mercury's demise, South Carolina Ford-Lincoln dealer O.C. Welch had to find a way to replace lost revenue. He decided to load up on Super Duty pickups – and sell them online. Mon., June 17» Watch the Video |
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