Harris Associates LP, State Street Corp. and Berkshire Hathaway Inc. led purchases of General Motors Co. last quarter as the U.S. government continued selling shares and GM rejoined the Standard & Poor’s 500 Index.
Elon Musk, the billionaire co- founder of Tesla Motors Inc., received $4.3 million in stock- based pay for work on the Model X sport-utility vehicle that the board found “probable” the company will complete later.
Visteon Corp. shares rose the most in more than nine months after the auto-parts supplier said it will sell its stake in a Chinese venture for $1.25 billion to focus on its automotive climate-control and electronics units.
Toyota Motor Corp. is using $199-a- month leases on its Camry to keep it the top-selling car in the U.S., much as it did to recover from record recalls and Japan’s tsunami. Now it’s pulling the rest of the industry with it.
Detroit’s boom-and-bust history was built on a dependence on big, fuel-thirsty vehicles. Now, with freshly stocked showrooms of new cars and more-efficient trucks, U.S. automakers are gaining ground on their Asian competitors with the best lineup in a generation.
A commercial showing the new Ford Fusion being driven off a cliff led David Bowhall to visit a dealer last month for a test drive. The owner of four Mercedes- Benzes in the last five years said it wasn’t much of a leap.
Acura’s future was so dire four years ago that Honda Motor Co. began killing models and choking off product development. Now, Honda is putting $1 billion into its luxury brand, a perennial also-ran to Toyota Motor Corp.’s Lexus line.
Chevrolet Dealer Gordon Stewart’s greatest challenge used to be competing against superior Japanese sedans. Now his biggest headache is getting General Motors Co. to build enough Chevy cars to satisfy growing demand.