Mar

General Motors stocks continue to fall

Posted by Jeff Baker Published in Business, Cars, Industry

Poor GM. It’s really a shame that a once-great company, such as itself, faces such an undetermined future.

Word has it that GM shares have hit a 75 year all time low, even trading as low as $1.40. Visteon’s, Ford’s autoparts manufacturer, shares are so low that they aren’t even listed on the NYSE exchange anymore with their shares dropping to just 2 cents a peice at their lowest.

Is this is for General Motors? Let’s hope not, I really want to see the Volt hit the streets.

Read (Autoblog)

Tags: economy, General Motors, shares, stock market, stocks, visteon

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Oct

Ford to Sell Mazda Shares

Posted by Chris Published in Ford, Industry, Mazda

The worldwide economic crisis strikes again in the auto world. Ford seems eager to dump Volvo and Mazda. Mazda seems to go out first. Of the 33.4% stake Ford has, the American car maker wants to sell 20%. While Ford will loose it’s majority and keep only 13%, competition will have a hard time getting those 20%. Ford will split it into 20 parts which will be sold to 20 different companies. 1% of Mazda shares costs about $40 million which means Ford is going to get some money out of the deal.

Like always when things are getting down like this, neither Ford nor Mazda is confirming the story. But we might see Ford selling the 20% later next month. Just in time for some Christmas shopping.

Tags: Ford, Mazda, shares

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Oct

GM Dealerships Offer 50 Shares of GM Stock with Every Purchase

Posted by Chris Published in Cars, GM

Some dealerships in Texas are going to offer 50 shares of GM stock to their first 100 customers. The business operated by two brothers has purchased 5000 shares at the end of last week and they will use them to celebrate GM’s 100-year anniversary by distributing them to lucky buyers. As GM stock is somewhere around $6-$7 right now, it means that each new customer will get about $300-$350 to play with.