Posted: January 12th, 2012 | Author: M.Aaron Silverman | Filed under: Auto Maker, Auto News, Ford, General Motors, Grilled, Holden | Tags: Australia, Auto News, Bailout, Business News, Co-Investment, Ford, Ford Australia, General Motors, General Motors Australia, gm, HOLDEN, Motoring News | Comments Off on AUSTRALIA: The Cost of Keeping Auto Makers Local
Sales of the Australian made large cars – Holden Commodore and Ford Falcon – have dropped alarmingly in recent years. The Commodore’s 15-year run as Australia’s best-selling vehicle was ended abruptly in 2011 by the Japanese manufactured Mazda3, while Ford Falcon sales plummeted to fewer than 19,000 units in 2011.
So Exactly How Much Does it Cost to Keep Auto Makers in Australia? Between $100 and $200 Million!?
Holden says it is getting closer to announcing co-investment from the Federal Government and parent company General Motors as it looks to secure the local manufacturing of the Cruze and Commodore beyond 2018. Ford has announced a fresh $103 million investment for it’s Falcon range of large car and Territory SUV, though the future of the Australian-built vehicles is still guaranteed only until the end of 2016. Read the full article »»»»
Posted: December 19th, 2011 | Author: Marcus Dangerfield | Filed under: Auto News, Grilled | Tags: Auto News, Bankruptcy, china, gm, SAAB, Swedish Car Maker | Comments Off on SAAB Files For Bankruptcy
The stalwart Swedish car maker Saab has filed for bankruptcy, bringing to an end two years of efforts to rescue the iconic brand. Final desperate efforts to organise help from China were obstructed by General Motors over licences.
“They were here this morning and submitted the documents requesting bankruptcy,” a clerk at the Vaenersborg district court told AFP, adding that the court was currently examining the request.
A statement on the court’s website said three Saab companies had filed for bankruptcy: SAAB Automobile Aktiebolag, Saab Automobile Tools AB and Saab Automobile Powertrain. Read the full article »»»»
Posted: May 18th, 2011 | Author: Marcus Dangerfield | Filed under: Auto News, China | Tags: AIC-GM Wuling Automobile Co, china, General Motors China, gm, Kevin Wale, mou, Sino-Singapore Tianjin Eco City, wuling | Comments Off on General Motors China
Is General Motors Chinese business likely to produce more sales than it’s U.S based parent?
GM China registered sales of around 685,000 in Q1 with a growth rate of 10% from same period last year. This growth will likely accelerate GM’s share in China despite the expiration of government incentives and subsidies. The automaker is consolidating its position in China and plans to double its sales in the next five years with its multi-brand strategy and focus on electric vehicles, though increased competition from other global automakers like Ford, Daimler AG, Honda, Toyota, Hyundai and Nissan could challenge these goals. General Motors has opened a second plant in Shanghai last year and added three new Chevrolet models in 2005, the Sail compact car, Epica intermediate sedan and Aveo hatchback. That pushed China sales for the brand past the 100,000 mark for the first time, establishing China as Chevrolet’s fourth-largest global market. Read the full article »»»»
Posted: January 12th, 2010 | Author: Michael Courtenay | Filed under: Auto News, gm | Tags: Edward Whitacre, General Motors, gm | Comments Off on GM Up For Profit 2010
DETROIT: General Motors’ interim chief executive, Edward Whitacre, says he expects the government-owned automaker to be profitable in 2010 but that profits aren’t a prerequisite for a public stock offering, possibly before the end of the year.
In a Press Conference, Whitacre said GM is working to restore its reputation in Washington, acknowledging that last year’s $50 billion government bailout “left not a good taste in some people’s mouths.” The carmaker will also take another look at its advertising as it struggles to convince consumers to consider its core brands (Chevrolet, Cadillac, Buick and GMC). Read the full article »»»»
Posted: June 1st, 2009 | Author: Michael Courtenay | Filed under: Auto News, Auto News, gm, Grilled | Tags: General Motors, General Motors Holden, gm | Comments Off on GM Australia Good Shape
It seems the Australian subsidiary of GM (Holden) has managed to hitch a ride with New GM and is not being left behind like SAAB and Hummer, or sold like Opel in Germany and Vauxhall in the UK.
Whether this is good or bad remains to be seen. The Opel example is not great – the plan for it to be taken over by Canadian parts maker, Magna, with government support, is already turning messy and may yet fall apart in the German parliament.