GM’s actions in Russia will play out over the next nine months and includes halting operations at its assembly plant in St. Petersburg by the middle of this year. Two years ago, GM began a $1 billion expansion of the facility.
The Trax takes aims at two sets of buyers, empty-nesters looking to downsize and young people buying their first new car. It is an approach that has played to varying degrees of success over the years.
GM’s weakness in Europe comes against an otherwise outstanding fourth-quarter financial report from the automaker. The period marked GM’s 20th consecutive quarter of profitability since its 2009 bankruptcy.
“We believe that we do have technologies that can technically meet the targets but we must be able to commercially produce these vehicles and sell them to customers who want to keep returning to them,” says FCA’s Chris Cowland....More
The increased activity comes on the heels of GM’s decision last year to increase overall capital spending 20%, an outlay hike in new-product spending that puts it on par with other leading global OEMs....More
Favorable exchange rates, growing new-vehicle demand worldwide and some astute management moves play a role in the positive near-term outlook. Weaknesses? There are some, says CLSA’s Chris Richter....More
Ford’s current level of localization in Russia is estimated at 40%, and the automaker says it intends to raise that share to 83%-85% by 2019. That is significantly higher than the 60% target stipulated in an agreement with the government....More
Sergio Marchionne declines to reveal potential partners or whether he is in discussions with other OEMs, but says financial analysts must play role in promoting the need for industry consolidation....More
The in-vehicle experience continues to evolve rapidly, with both automakers and suppliers ramping up the rate of innovation. Here are a few thoughts on how we can bring a human touch to these connected features....More