Tag: posts

GM posts 23% January sales gain, still down from December

GM logoGeneral Motors today posted 178,896 total sales in January, a strong 23-percent gain from a year ago. According to the automaker, sales were up in all segments of the market, led by strong crossover and pickup sales. Fleet sales were down seven percent, though commercial sales gains wiped out that deficiency. Sales to retail customers were up 36 percent.

It’s not exactly all good news, however. Sales were actually down 20 percent from December. Check out all the details in GM’s press release after the break.

Continue reading GM posts 23% January sales gain, still down from December

GM posts 23% January sales gain, still down from December originally appeared on Autoblog on Tue, 01 Feb 2011 11:45:00 EST. Please see our terms for use of feeds.

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Autoblog’s Most Popular Posts of 2010

Filed under: Etc.

Most Popular Posts of 2010

Murder and intrigue. Car crashes, dead bodies, motorcycle chases and, of course, sweet revenge. Are we describing the latest round of blockbuster summer movies or reading the latest New York Times best-seller? Nope, just recapping the ten most popular posts on Autoblog from 2010 as determined by click-throughs garned from from regular AB readers and outside link-ins.

Yep, it’s that time of the season. It’s officially the very last day of the year, so we hope you’ll join us in taking a look back at the year that just was – and, of course, in looking forward to everything that 2011 has in store for those of us who obsessively cover the auto industry.

Click here to take a trip down memory lane.

[Source Image: Cliff Owen/AP]

Continue reading Autoblog’s Most Popular Posts of 2010

Autoblog’s Most Popular Posts of 2010 originally appeared on Autoblog on Fri, 31 Dec 2010 11:59:00 EST. Please see our terms for use of feeds.

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Report: Spyker posts loss, expects to lose more

Filed under: Saab, Earnings/Financials, Spyker

Saab factory sign

An accounting rule, among other things, is ostensibly to blame for Spyker posting a loss and having to declare negative shareholder equity with more liabilities than assets. According to Automotive News, the new owner of Saab had counted General Motor’s $326 million in redeemable preference shares in the company as equity, not a liability. So with the company having just got its factory going in October and only having sold 10,500 cars in the first six months of this year, the hard numbers are a loss of €139.1 million ($177.2M U.S.) on €243.1 million in sales ($309.8M U.S.).

The good news is that sales for the same period last year, before Saab’s plunge into full out cardiac arrest, were €4.1 million ($5.2M USD). The Swedish maker also has €280 million in cash (around $357M) and another €266 million ($339M) untapped from its European Investment Bank loan. Spyker has been saying for a while that profitability would come in 2012 and that it has enough cash and credit to get it there without needing to raise more money.

Its sales projections of 45,000 to 50,000 cars this year, however, might be on some downward pressure. Company CEO Jan Ake Jonsson said that they’re still looking to achieve that low number. Next year’s forecast and the company’s break-even point is understood to remain at 80,000 cars, with 120,000 as the long-term annual sales target.

[Source: Automotive News – sub req’d | Image: Olivier Morin/AFP/Getty]

Report: Spyker posts loss, expects to lose more originally appeared on Autoblog on Fri, 27 Aug 2010 18:00:00 EST. Please see our terms for use of feeds.

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