General Motors Tag

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Ford Motors, already reeling from another recall affecting nearly 1 million vehicles, was dealt a second whammy as it watched its sales performance falter in September. Ford was the only major automaker to perform poorly in September as its sales dipped 2.4 percent from last year (180,000 versus 221,000). As a result, the automaker’s share of the market slipped 1.7 percent to 14.5 percent. A further result of the poor sales performance was a loss of faith in the financial markets. The automaker saw its stock value drop by moreRead More
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Image source: http://www.wikihow.com/Buy-a-Car If you watch your mail closely, you have probably noticed something interesting recently — there has been a big increase in the number of letters and/or emails from your local Rolls-Kanardly dealership or the local Poppaflat mini-car headquarters telling you of the great deals available and asking you to “come on down.” While the number of letters has not increased exponentially, i.e. a whole bunch, you should still have seen more letters from dealerships offering the best deals in years, but you have to act before theRead More
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Posted On July 18, 2014By adminIn Comment and fun

Where’s General Motors now?

This year has seen an unprecedented series of assaults on the reputation of General Motors. While it’s not unusual for a large manufacturer to experience some difficulties, GM has been through the fire over the last six months. Because the news has been emerging on a piecemeal basis, it’s appropriate to step back for a moment and take an overview to see where the company now stands both commercially and legally. Let’s take the last set of trade figures. Given all the adverse publicity showing how unsafe many of theirRead More
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Posted On June 19, 2014By adminIn Insurance

Settle quick to avoid penalties

The tactics of which cases to fight and which to settle have been very well worked out by the car insurance industry. It’s a case of balancing different financial elements. While money is held on investment, it is earning an income. Not all claimants can afford to pay an attorney to sue. If they decide they want to start the case on their own, the court fees required to file the pleadings will come as a shock, and many make a mess of drafting the pleadings and lose the cases.Read More
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You might remember General Motors failed to report the problem with the ignition switch to the National Highway Traffic Safety Administration. This May saw the announcement of the civil fine to be paid by GM. It’s $35 million. Million? you ask. When the civil fines levied on the banks has been measured in hundred of millions and, more recently, billions, the idea a multinational car manufacturer might only have to pay $35 million for an offense in which some people have died seems odd. For the record, the current levelRead More
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Once a snowball begins rolling down a slope, it tends to gather both mass and momentum. In this case, General Motors has discovered it has a rather large hole in its safety record. Having begun with a general indication it would recall a relatively small number of makes and models because of an ignition fault now linked to thirty-one crashes and at least a dozen deaths, the latest count shows a total of about 2.6 million vehicles to be recalled, including the Chvrolet Cobalt and HHR, Saturn Ion and Sky,Read More
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Posted On March 4, 2014By adminIn Comment and fun

The politics of recalls

We need to start with an explanation of the thinking behind the recall of defective vehicles. As the law stands, consumers who buy a defective product have the right to sue the manufacturer, but this is a slow-moving process and expensive unless you can get a class action going. But if you are successful. the finding of corporate negligence can open the floodgates of compensation payments. To avoid this unpleasant financial consequences, manufacturers often agree to a product recall. In public relations terms, there’s always going to be damage toRead More
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Posted On March 3, 2014By adminIn What's the news?

General Motors feeling the pain

Although investors should always be focused on the long term, it’s foolish not to take note of current issues in the news, particularly if this news may affect the share price. We need to start with the general proposition that any manufacturer wants to minimize the extent of any recall. First, it hits the reputation of the brand for reliability and, second, it hits the bottom line in having to pay all the dealers to repair the defective vehicles. General Motors currently has a problem with faulty ignition switches. There’sRead More