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General Motors aims to keep reducing the flow of vehicles from its plants to U.S. rental lots at least through 2018, continuing a strategy that has helped the automaker's North American operations pile up more than $26 billion in profits under CEO Mary Barra even as its overall market share keeps sliding. Alan Batey, GM's president of North America, said that sales to daily-rental fleets would fall by about 50,000 units this year and an unspecified amount in 2018. That would represent four straight years of declines for GM's rental deliveries, which already dropped from 16.1 percen...
Nissan is promoting the Leaf electric car by going to the last place you would see one, a gas station. Actually, Nissan is going to multiple gas stations in the Northeast and Mid-Atlantic states, and the promotion involves giving people free gasoline. Nissan will "take over" gas stations and give away gasoline to people that come. The company will also have a Leaf on display. Isn't it an unusual marketing move? It seems the idea is to give people a sense of what it's like to not pay to keep your car fueled, which would be the case if they were driving a Leaf. For ...
US May car sales finally revealed and surprisingly Ford Motor edged its archival and perennial first-place automaker General Motors sales when it came to sales last month. Although likely a temporary blip, Ford outsold crosstown rival GM by about 3,000 new cars and trucks in May, making it temporarily the largest automaker in the U.S. market. It was the first time Ford outsold GM since March 2016. Before that, it hadn't happened since March 2011. Ford's sales rose 2.4% for the month compared to the same month last year, GM was down 1.4% and the third of Detroit's Big 3, ...
U.S. new-vehicle sales are expected to rise very slightly in May from a year ago, narrowly snapping the industry's streak of four consecutive monthly declines. Analysts expect 2017 sales of 17.2 million, 2 percent fewer than the record 17.55 million sold last year. The annualized selling rate is projected to be less than 17 million for a third consecutive month, more evidence that the market has passed its peak. That would mean the industry will already have had as many sub-17 million months in 2017 as it did in each of the past two full years. Other forecasts project sales-volu...
As part of the efforts to reduce exposure General Motors will slash headcount at its international headquarters in Singapore. GM International -- which oversees markets such as India, Southeast Asia, and South Korea, among others -- will reduce its staff to about 50 from 180 by year end, according to a person with knowledge of the matter. About 90 employees will leave the company by the end of June and 40 by the end of 2017. Last week, the company said it would take a $500 million charge in the second quarter to restructure operations in India, Africa and Singapore. The company plan...
