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News Breaks
July 28, 2014
06:07 EDTGMNHTSA closes GM defect petition review
The NHTSA is closing a petition review of 248,000 2007-2009 Saturn Outlook and GMC Acadia 248,453 after a complaint of loss of low beam headlamp function due to an overheated bulb connector. NHTSA said out of a population of 248,453 subject vehicles, NHTSA received 473 consumer complaints of inoperative head lamp. Many of these complaints indicated that the head lamp harness suffered damage from overheating. After reviewing the complaints, NHTSA said it didn't find a defect. "Over the last 25 years, ODI has opened numerous defect investigations of the loss of headlamp illumination. Investigations that resulted in safety recalls involved simultaneous loss of illumination from both headlamps. NHTSA does not consider the loss of a single headlamp as presenting an unreasonable safety risk-such failures are readily detectable by the driver while allowing the vehicle to retain forward visibility and conspicuity from the remaining headlamp. There is typically enough time between the failure of the first headlamp and the second during which the vehicle operator can obtain the needed repairs. Based on the information currently available, NHTSA does not believe that the headlamp condition as alleged by the petitioner indicates the likelihood of a safety-related defect that would warrant a formal investigation. Therefore, in view of the need to allocate and prioritize NHTSA's limited resources to best accomplish the agency's safety mission, the petition is denied." Reference Link
News For GM From The Last 14 Days
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April 15, 2015
19:20 EDTGMCo-lead counsel in GM ignition lawsuit will appeal bankruptcy shield ruling
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17:45 EDTGMJudge allows GM to remain shielded from pre-bankruptcy accidents, Reuters says
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16:47 EDTGMJudge says GM can keep 'shield' against pre-bankruptcy lawsuits, Reuters says
09:55 EDTGMBofA/Merrill U.S. autos analysts hold an analyst/industry conference call
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April 14, 2015
18:07 EDTGMGeneral Motors seeks to cut costs via longer term supply contracts, WSJ says
General Motors’ new purchasing chief said the company is trying to lock in its supplier contracts for a term covering two vehicle generations, or as long as a decade, in a bid to cut costs and gain access to advanced technology, The Wall Street Journal reports. Reference Link
April 13, 2015
17:21 EDTGMGeneral Motors confirms raising quarterly dividend to 36c from 30c per share
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13:31 EDTGMDeath claims linked to GM ignition switches up to 84, WSJ reports
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12:58 EDTGMGM says it has resolved Bolt's technical challenges, Financial Times reports
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12:44 EDTGMFiat Chrysler interested in partnering with GM, Reuters says
Fiat Chrysler 9FCAU) CEO Sergio Marchionne is looking to make a "mega deal" before stepping down in early 2019 and has shown "particular interest" in partnering with GM(GM), according to Reuters. GM is strong in Asia, an area of weakness for Fiat Chrysler, while GM is looking to expand in Europe, the news service stated. Reference Link
07:16 EDTGMTechWeek to hold a conference
TechWeek Detroit 2015 is being held in Detroit on 4/13-19.
April 10, 2015
06:13 EDTGMGeneral Motors added to Focus List at Citigroup following selloff
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April 9, 2015
11:31 EDTGMGM may make 'major' investment in Warren Tech Center, Detroit News says
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08:41 EDTGMGM's Opel unit reports Q1 new passenger car sales 279,306 units
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06:19 EDTGMGeneral Motors considering $1.3B expansion of Arlington plant, Reuters reports
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06:07 EDTGMGM to temporarily halt production of Chevrolet Volt, WSJ reports
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April 8, 2015
19:09 EDTGMGM pressures Canadian workers to reduce pension benefits, Globe and Mail says
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April 7, 2015
11:27 EDTGMCanadian sale of General Motors stake removes an overhang, says BofA/Merrill
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09:23 EDTGMOn The Fly: Pre-market Movers
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09:01 EDTGMGeneral Motors 73.39M share Block Trade priced at $35.90
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06:56 EDTGMGeneral Motors 73.39M share Block Trade; price range $35.80-$36.00
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