Chicago, May 8 : General Motors has been given green light by China to build a $1.3 billion factory in Shanghai, the automaker said.
The plant will be located in Shanghai's Jinqiao district, GM said in a statement Tuesday.
Construction is to begin in June, reported Xinhua citing the Chicago Tribune.
GM said the planned production capacity for the factory is 150,000 vehicles.
"We want to build where we sell. That is very important to us," said Alan Adler, a GM spokesman in Detroit.
Chicago, May 3 : General Motors said its profit fell 13.8 percent in the first quarter of 2013 from last year's $1 billion.
The largest US automaker reported net income of $865 million in the first quarter, or 58 cents a share, which beat analysts' expectations, reported Xinhua.
GM earned an adjusted $1.4 billion in North America before interest and taxes in the first quarter. Company officials attributed weaker profit in North America to GM's numerous new vehicle launches and a drop in wholesale deliveries as it changes over plants.
Chicago, Feb 15 : General Motors Co. earned $4.86 billion in 2012, down from a record $7.59 billion in 2011, Detroit News quoted GM as saying.
The Detroit automaker earned $2.92 per share for the year, down from $4.58 a share in 2011, reported Xinhua.
GM's revenue rose by $1.3 billion in the fourth quarter to $39.3 billion and increased one percent in 2012 to $152.3 billion.
Big losses in Europe and lower vehicle prices in North America market are major reasons behind the automaker's profit slip in 2012.
American auto giant, General Motors has announced a range of attractive discounts in the trucks market in order to attract customers and compete with discounts from rivals Ford and Chrysler.
General Motors, with an aim to clear the 2012 stock, is offering a up to $9,000 off the remaining 2012 models. The company has also announced $4,500 off the models produced in 2013. The discounts along with low interest rates, attractive lease deals and abundant credit options will help boost demand in the market for trucks.
American automaker, General Motors has recorded its highest ever monthly sales in the Chinese market with 220,996 vehicles during the month of August beating a gloomy economic situation in the world's second largest economy.
In a move which General Motors (GM) claims is aimed at trimming its excess inventory, the automaker has decided to stall the production of its Chevrolet Volt battery-powered cars for 26 days --- most likely from September 17 to October 12.
With a GM spokeswoman confirming the four-week temporary suspension of the production of Chevrolet Volt at the Hamtramck, Michigan, plant, it is for the second time this year that the manufacturing of the plug-in sedan has been idled by the automaker.
In a move which will help General Motors (GM) shove its Cadillac luxury brand into the fast lane, Don Butler – VP of marketing for Cadillac – announced on Tuesday that the automaker has plans underway to bring about a two-fold increase in the 2010 US sales volume of Cadillac in the “next couple of years."
With the 2010 sales figures of Cadillac cars and sport-utility vehicles (SUVs) standing at 146,925, Butler said that the GM plans to increase that number to approximately 294,000 units by 2014.
According to a Monday disclosure by plant suppliers and union sources at General Motors' (GM) Chevrolet Volt-manufacturing Michigan assembly plant, the facility will be idled by the automaker for nearly a month, from mid-September to mid-October.
Revealing that the production at the Detroit-Hamtramck plant will be suspended from September 17 till October 15, the plant suppliers and union sources said that the 1,500 union workers at the facility had been informed by the UAW leaders about the scheduled production downtime.
In a Thursday announcement, General Motors (GM) confirmed that the next-generation model of the company’s Chevrolet Cruze compact car for the North American market will be manufactured, as expected, at its Ohio factories, which build the present version of the vehicle.
For building the next-generation Chevrolet Cruze, which will likely hit the markets by 2014-end, GM and two local United Auto Workers (UAW) unions will make a $200 million investment in its Lordstown, Ohio, plant; and an additional $20 million investment in its Parma, Ohio, plant.
American auto maker, General Motors ahs released its new Cadillac ATS compact sports sedan in Detroit on Sunday.
The company claims that the company has a rear-wheel-drive chassis that is at least 100 pounds lighter than any of it rival models. The company had initiated a weight-reduction program for each section of the car to create a light weight vehicle.
According to GM North America President Mark Reuss, the new Cadillac ATS is not only comparable to models form Audi, BMW and Mercedes-Benz but is superior to them. The new model will come with three engine choices;
The much talked about Chevrolet Beat Diesel is all set to make its way on 25th of this month. Even the authorized dealers have been told to display the vehicle, offer test drives and take advance bookings.
To be priced between Rs 4.30 lakhs to Rs 5.30 lakhs depending on the trim level, the booking amount for the car is Rs. 25,000/- though waiting period could go for at least one month. Powered by a 1 litre, 3-cylinder turbocharged diesel engine, the Chevy Beat diesel is expected to provide mileage of 24 kilometers to the litre.
The US-based General Motors (GM) announced that they had dissolved the plan to manufacture a car which was at a lower range than its Chevrolet Spark. As per Karl Slym, President and Managing Director, GM India, the company had dropped the project instead the company was looking forward to launch a diesel car which was an alternative of Beat.
New Delhi, June 23 : With the upcoming launch of the diesel version of its best seller hatchback car Beat, American automobile major General Motors (GM) expects its sales to soar in the current fiscal.
"With the launch of Beat diesel, our company's sales growth would be double of what the whole market growth is," Karl Slym, president and managing director of General Motors India, told reporters here at the company's showcase event for Beat electric prototype vehicle, which the company is developing as a clean energy car.
New Delhi, June 1 : Buoyed by the sale of its compact car segment, global automotive major General Motors' Indian subsidiary Wednesday reported an increase of 1.3 percent in sales for the month of May at 8,329 units as compared to
8,225 units in the like period of 2010.
The growth in the company's sales comes a month after it reported a drop of 5.19 percent in sales for April at 10,050 as against the same month last year.
The company said that the growth was due to interest rate and fuel price hike, coupled with general inflation trend.
Aiming to meet ever increasing prices of raw materials, India subsidiary of carmaker General Motors is expected to increase price of its few models in India. If it happens, this is second time in a row in this year, that carmaker will increase prices.
Detroit based leading carmaker is concerned about increasing manufacturing cost and plans to pass on the burden to consumers.
Hyderabad, Feb 12 - General Motors (GM) India plans to launch six new models with 14 fuel variants in the next two years, a top company official said here Saturday.
The new models will include diesel-powered Chevrolet Beat, which is set to be launched in June this year, a new Captiva and BS-IV version of the Tavera.
"We plan to roll out a series of new products in the next 24 months," P. Balendran, vice president of GM India, said at a press conference to mark the launch of Chevrolet Beat LPG and SMARTECH engine.
General Motors is all set to launch its entry level sports car Camaro in the Indian automobile market. President Tim Lee of GM international operations said that company is planning to introduce a right-hand drive for the two-door car which can be positioned below the Chevrolet Spark, to derive high volumes in the auto market of India.
He believed that in future it will become the second fastest growing auto market in the world.
General Motors is setting up to bring in an electric car brand in India in the coming year. The group has reported a Year-on-Year development of 76 percent and is fairly hopeful regarding Indian market. The latest car model will be cost-effectively priced separately from being mileage- competent.
In recent news it has been decided by the General Motors India Pvt. Ltd that it will spend approximately $250 million to make bigger its industrial unit at Halol, 46km from Vadodara in Gujarat state, to create five models it campaigns to bring in the nation.
According to president and managing director Karl Slym, they wish to commence production of five fresh vehicles by the conclusion of next year. The latest vehicles are selected from the collection of the Chinese partner SAIC Motor Corp. Ltd and comprises of three passenger cars and two light commercial vehicles.
One of the leading players in the Indian automobile circuit, General Motors India has recently bagged the prestigious National Safety Award in the Motor Vehicles category. It is to be mentioned here that the company won this accolade two years in a row and the Halol unit of the company has been selected under the best safety systems category.
It may be noted here that the award in the country is presented by the Directorate General of the Factory Advice Service & Labour Institute.