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Rebecca Cook - 1 General Motors - 1 Nathan Gomes - 1 Sriraj - 1
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Detroit , Michigan U.S KS Bengaluru
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General Motors - 1 REUTERS - 1 General - 1 Detroit - 1 U.S - 1 Rival Toyota Motor Corp - 1 Kia - 1 Hyundai - 1

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☆ GM third-quarter US sales surge 21% on resilient demand for SUVs, pickups
  + stars: | 2023-10-03 | by ( ) www.reuters.com   time to read: +1 min
The new GM logo is seen on the facade of the General Motors headquarters in Detroit, Michigan, U.S., March 16, 2021. REUTERS/Rebecca Cook/File Photo Acquire Licensing RightsOct 3 (Reuters) - General Motors Co's (GM.N) third-quarter U.S. auto sales jumped about 21%, the company said on Tuesday, fueled by improved supply and sustained demand for its SUVs and pickup trucks. The Detroit automaker's quarterly sales rose to 674,336 vehicles, from 555,580 vehicles a year earlier. Rival Toyota Motor Corp (7203.T) reported a 12.2% rise in third-quarter U.S. auto sales. While it did not address the impact of the latest strike, a 40-day UAW strike in 2019 led to a 6% fall in sales in the fourth quarter of that year and cost the automaker $3.6 billion.
Persons: Rebecca Cook, General Motors, Nathan Gomes, Sriraj Organizations: General Motors, REUTERS, General, Detroit, U.S, Rival Toyota Motor Corp, Kia, Hyundai, United Auto Workers, UAW, Detroit Three, GM, Thomson Locations: Detroit , Michigan, U.S, KS, Bengaluru
☆ US first-quarter auto sales set to rise on better inventory
  + stars: | 2023-04-03 | by ( ) www.reuters.com   time to read: +2 min
But rising interest rates and fears of a recession may play spoilsport in an industry where most vehicle purchases are financed with loans, analysts say. "Consumers are facing credit uncertainty as rapidly rising interest rates have created barriers to entry for even the most qualified buyers," said Jessica Caldwell, executive director of insights at auto research firm Edmunds. The automaker is set to post a 15% rise in first-quarter U.S. sales, while Japanese rival Toyota Motor Corp's (7203.T) sales are likely to fall nearly 10%, when they publish data beginning Monday, according to consultant Cox Automotive. Toyota has continued to struggle with inventory shortages sparked by supply constraints, losing its crown as the top selling U.S. automaker to GM. Trucks and crossover SUVs are expected to account for majority of new retail sales in the quarter, according to automotive data company J.D.
☆ Sollers in talks to buy Mazda out of Russian joint venture
  + stars: | 2022-09-26 | by ( ) www.reuters.com   time to read: +2 min
Register now for FREE unlimited access to Reuters.com RegisterEmployees work on the production line of the CX-5 model car at the Mazda Sollers Manufacturing Rus joint venture plant of Sollers and Japanese Mazda in Vladivostok, Russia September 10, 2018. Valery Sharifulin/TASS Host Photo Agency/Pool via REUTERS/File PhotoSummarySummary Companies This content was produced in Russia where the law restricts coverage of Russian military operations in UkraineMOSCOW, Sept 26 (Reuters) - Russian automaker Sollers (SVAV.MM) is in talks with Mazda Motor Corp (7261.T) about buying the Japanese company's stake in their Russian joint venture, Sollers said on Monday, as Mazda prepares to wind down operations in Russia. The Nikkei newspaper on Saturday first reported the talks with Sollers. Sollers said it was in talks with Mazda over stopping car production in Vladivostok and on buying out Mazda's stake in the venture. A Mazda spokesperson said the company was discussing ending vehicle production in Vladivostok, without giving details.
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