General Motors

DETROIT, MI (AP)--   Ford is posting a big sales jump for October but Fiat Chrysler and General Motors are reporting declines. 

The drop by two of the Detroit Three backs analyst predictions that September's big gain in U.S. auto sales would fizzle in October. They believe sales would continue to slow nationwide and fewer people than expected would replace hurricane-damaged vehicles in Texas and Florida.

DETROIT, MI (AP)--   General Motors' second-quarter net profit fell more than 40 percent largely due to a loss from the sale of its European unit.  

The company posted net income of $1.66 billion, compared with a record $2.87 billion a year ago.

If the European numbers are stripped away, income from continuing operations was $2.4 billion, or $1.89 per share, down 12 percent from last year. That still beat Wall Street estimates easily. Analysts polled by FactSet expected $1.68 per share.

Revenue was $37 billion, falling short of analyst estimates of $40.3 billion.

DETROIT, MI (AP)--   General Motors says its new Chevrolet Cruze diesel compact sedan will get up to 52 miles per gallon on the highway, the best mileage of any car that isn't a hybrid or electric vehicle. 

The 2017 diesel with a six-speed manual transmission and 1.6-liter diesel engine also gets 30 mpg in the city and a combined city-highway mileage of 37, according to government estimates.

Diesel engines have gotten a lot of bad publicity of late with the Volkswagen emissions scandal. But GM says the Cruze complies with all U.S. pollution standards.

DETROIT, MI (AP)--   U.S. auto sales are expected to have fallen in January after ending last year at a record high.

General Motors' sales fell 3.8 percent from last January, while Ford's sales were down 1 percent. Nissan's sales rose 6 percent thanks to strong truck and SUV sales.

Other automakers report sales later Wednesday.

ALG, an automotive forecasting firm, predicts overall sales will be down 1.5 percent from last January to 1.1 million.

DETROIT, MI (AP)--   General Motors says its U.S. sales fell 1.7 percent last month as all brands but Buick reported declines.  

The Detroit automaker says it sold nearly 259,000 cars and trucks in October and increased retail sales to individual buyers by 3 percent.

GM has been shunning low-profit sales to rental car companies in favor of more lucrative retail sales.

But the overall monthly decline is a sign that U.S. auto sales have peaked and may be falling slightly after last year's record of 17.5 million.

DETROIT, MI (AP)--   U.S. auto sales were expected to drop slightly in July as unusually hot weather kept buyers indoors.

Kelley Blue Book predicted a 1 percent decline from last July to about 1.5 million vehicles, while auto pricing site TrueCar.com expected sales to be flat for the month. TrueCar said some automakers offered big discounts to help beat the heat.

DETROIT, MI (AP)--   General Motors is recalling nearly 290,000 older Chevrolet Impala sedans in the U.S. because the air bags might not inflate in a crash. 

The recall covers Impalas from the 2009 and 2010 model years that were made before Feb. 10, 2010.

GM says in government documents that the front passenger seat frame can rub against the wiring for a passenger detection sensor. Damaged wiring could cut power to the sensor and knock out the air bags.

Air bag warning lights will illuminate if the wires are chafed. But some gauges may not work.

DETROIT, MI (AP)--   General Motors' second-quarter profit more than doubled to a record $2.87 billion, even as the company cut sales to rental car companies and saw its sales fall in the U.S., its most lucrative market. 

The profit was so strong that GM raised its full-year earnings per share guidance by 25 cents to $5.50 to $6.

The Detroit automaker earned $1.81 per share from April through June. Excluding special items, it made $1.86, shattering Wall Street forecasts. Analysts polled by FactSet expected $1.52 per share.

Revenue rose 11 percent to $42.4 billion.

DETROIT, MI (AP)--   General Motors' first-quarter profit more than doubled on record earnings in North America, strong China profits and a break-even performance in Europe. 

The Detroit automaker earned $1.95 billion, or $1.24 per share, even after a $500 million cash investment in ride-sharing company Lyft.

After $300 million mainly for union worker buyouts and $60 million to settle stockholder lawsuits, GM earned $1.26 per share. That soundly beat Wall Street forecasts. Analysts polled by FactSet expected $1 per share.

DETROIT, MI (AP)--   General Motors plans to sell 20- and 30-year notes to make a payment on its huge U.S. pension obligation for hourly workers.  

The Detroit company filed a prospectus for the offering with U.S. Securities regulators on Thursday that did not specify an amount. But Moody's Investor Services said it would be $2 billion.

At the end of last year, GM's U.S. hourly pension plan was underfunded by $10.4 billion. About $61 billion of the obligations were funded for the plan's roughly 360,000 pensioners.

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