Tesla Motors Inc., the electric-car maker run by Elon Musk, surged as much as 12 percent on investor confidence in Musk’s plan to boost his stake in the company that’s selling as much as $830 million in shares and debt.
One of the first things Dan Akerson did as chief executive officer of General Motors Co. in 2010 was dive into the automaker’s telecommunications business to get more profit from that in-car connection.
General Motors Co., reiterating that it expects to break even in Europe by mid-decade, reported losses in the region that more than doubled last year compared with 2011 and said the market will fall further in 2013.
Ford Motor Co. has canceled plans to move production of a small sport-utility vehicle from Europe to Kentucky as currency exchange rates no longer favor U.S. production, according to two people familiar with the decision.
General Motors Co.’s biggest surprise yesterday wasn’t earnings that beat estimates by 55 percent. It was that it expects to break even by the middle of the decade in Europe, a region where it has lost $17.3 billion since 1999.
Ford Motor Co. may make part of its required $859 million payment to a union health-care fund this week in stock, a sign of potential weakness in the shares as the U.S. auto sales recovery stalls, analysts said.