GM to Acquire AmeriCredit
07/22/10
Avalanche, Camaro and Terrain earn top honors in J.D. Power APEAL study
7/22/10
GM Nets Five of Edmunds.com’s Top 10 Launch Awards
07/12/10
GM Increases Number of J.D. Power Initial Quality Study Awards
06/18/10
2010 Buick LaCrosse Named a “Top 10 Best Dark-Horse Car of 2010” By Edmunds.com
06/16/10
2010 Chevrolet Equinox, GMC Terrain Earn IIHS Top Safety Pick Award
06/02/10
Buick, Cadillac Top Brands in Vehicle Satisfaction Awards
05/25/10
GM Reports First Quarter 2010 Results
05/18/10
62 GM plants eliminate waste to landfills
05/11/10
Cadillac CTS-V Takes Top Honors in Texas
05/11/10
GM To Invest $890 Million To Build Cleaner, More Fuel-Efficient Engines
4/27/10
GM Pays Back Government Loans in Full
04/21/10
FAQ on GM’s government loan payback
04/21/10
Chevrolet Equinox and Camaro Named Ward’s Auto Interior of the Year Winners
04/13/10
GM CFO: GM on the Path Toward Profitability
04/07/10
GM sales improve for sixth straight month led by crossovers, Buick LaCrosse, Chevrolet Camaro
4/01/10
Chevy named Best Exterior Design for Non-luxury Brand by KBB
LaCrosse, Sierra 2500 HD, Camaro and Equinox earn top honors at Chicago Auto Show
02/17/10
Three Chevrolet Vehicles Named to Kelley Blue Book’s kbb.com Top 10 Family Cars
02/16/10
GM Reaches Agreement to Sell Saab to Spyker
1/26/10
GM To Be First Major U.S. Automaker to Manufacture Electric Motors
1/26/10
Ed Whitacre to Continue as CEO; GM Commits to Paying Loans by June
01/25/10
GM Makes First Payment on Government Loans
12/18/09
GM to Begin Repaying Federal Loans in December Ahead of Schedule
11/16/09
General Motors Company (GM) released today preliminary financial results for its first 83 days of operation, providing an initial look at its financial performance since it began operations as a new company on July 10, 2009.
“We have significantly more work to do, but today’s results provide evidence of the solid foundation we’re building for the new GM. With a healthier balance sheet and a competitive cost structure, our focus is on driving top line performance,” said GM President and CEO Fritz Henderson.
In light of improving global economic conditions, stabilizing industry sales and its healthier cash position, GM announced today that it plans to accelerate repayment of its outstanding $6.7 billion in UST loans as well as the C$1.5 billion (US$1.4 billion) in EDC loans ahead of the scheduled maturity date of July 2015.
GM plans to repay the United States, Canadian and Ontario government loans in quarterly installments from escrowed funds, beginning next month with an initial $1.2 billion payment to be made in December ($1.0 billion to the UST and $192 million to the EDC), followed by quarterly payments.
Revenue
GM posted revenue of $28.0 billion in the third quarter of 2009 ( July 1-Sept. 30, 2009), which was up approximately $4.9 billion compared to the revenue recognized by General Motors Corporation, or “Old GM,” in the second quarter of 2009.
Contributing to GM’s sales in the U.S. was the strong retail performance of some of its newest vehicles, including the Chevrolet Camaro and GMC Terrain, as well as the Chevrolet Equinox, Buick LaCrosse and Cadillac SRX which are generating higher average transaction prices and higher residual values than previous model year vehicles.
Managerial Results
After the inclusion of special items, GM’s managerial earnings before tax for the July 10-Sept. 30 period was a loss of $1.0 billion. GM recorded special items for the same period of $505 million, attributed primarily to dealer restructuring, attrition-related charges and Delphi. For the July 10-Sept. 30 period GM posted a managerial loss after-tax of $1.2 billion.
Total structural cost for the company has been significantly reduced by the resizing and delayering of the company including salaried and hourly headcount reductions, engineering savings and volume related savings. GM structural cost for the period July 10-Sept. 30, 2009 was $9.1 billion. Structural cost for Old GM for the period Jan. 1-July 9, 2009 was $22.0 billion. For the 9-month period ending September 30, 2008, Old GM had structural cost of $37.8 billion.
For the period July 10-Sept. 30, GM had positive managerial operating cash flow before special items of $3.3 billion, reflecting the favorable working capital impact from production start up, timing of supplier payments and lower capital spending. As of September 30, 2009, cash and marketable securities totaled $42.6 billion.
GM Market Share Up; October Marks First Sales Increase in 21 Months
11/03/09
General Motors Gaining Market Share in October According to Edmunds.com
10/16/09
GM Invests $230 Million to Tool Up for 2011 Chevrolet Cruze and Volt
10/14/09
General Motors Signs Agreement For Sale of HUMMER to Tengzhong
10/09/09
90 Days Post Bankruptcy, A Different GM Emerges (Part 1)
10/07/09
90 Days Post Bankruptcy, A Different GM Emerges (Part 2)
10/07/09
90 Days Post Bankruptcy, A Different GM Emerges (Part 3)
10/07/09
GM to Sell Majority Stake in Opel/Vauxhall to Magna/Sberbank
09/10/09
GM’s August Sales Up 30 Percent Over July
09/01/09
GM Increasing N. America Production, Adding Jobs to Meet Demand
08/18/09
General Motors and Koenigsegg Group Sign Deal on Sale of Saab
08/18/09
A New GM Kicks Into High Gear at Product and Technology Event
08/11/09
Chevrolet Volt Expects 230 mpg in City Driving
08/11/09
2010 Launch vehicles by Buick, Cadillac, Chevrolet and GMC
08/11/09
New Buick Crossover Will Feature Plug-In Hybrid System
08/06/09
GM’s Board of Directors’ Statement on the Newly Launched GM
08/05/09
GM Resumes Leasing in Five States
08/03/09
GM July Retail Sales Up for Fifth Consecutive Month
08/03/09
GM Announces Leadership Appointments and Retirements
07/30/09
GM Names New Members to Board of Directors
07/23/09
GM Announces Major Leadership Changes
07/23/09
Chevrolet Launches ChevroletVoltAge.com
07/16/09
The New General Motors Company Launches Today: Part 3
07/10/09
The New General Motors Company Launches Today: Part 2
07/10/09
The New General Motors Company Launches Today: Part 1
07/10/09
GM 363 Asset Sale Approved by U.S. Bankruptcy Court
07/06/09
GM selects plants for future small car assembly
06/26/09
What Quality Gap?
6/23/09
GM, Koenigsegg Group AB Reach Tentative Agreement on Saab
06/15/09
GM Opens Largest, Most Advanced Automotive Battery Lab In The U.S.
06/08/09
Fritz Henderson’s Senate Testimony on Dealer Consolidation
06/03/09
General Motors, Penske outline proposed deal for purchase of Saturn
06/05/09
Summary FAQ on GM’s Chapter 11 Filing
06/03/09
GM Vehicle Protection, Incentive Programs will Continue
06/02/09
General Motors Announces Preliminary Agreement To Sell HUMMER
06/02/09
Customer FAQ on GM’s Chapter 11 Filing
06/01/09
New GM-UAW Labor Agreement Eliminates Competitive Gap for GM
05/29/09
GM Announces Plans to Build Small Car in U.S.
05/29/09
GM Reducing Dealer Count from 5,969 to 3,600 by 2010
05/15/09
Four Core Brands to Focus New Product Development
04/27/09