Rod Lache News
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General Motors Co., which saw pickup inventories rise 24 percent last month, will take out 10 weeks of truck production as it prepares to introduce a redesigned Chevrolet Silverado and GMC Sierra in the second quarter.
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It was January 2011, and markets were rallying around the globe, driven by optimism that the U.S. and European economies were on the rebound. One rising stock was Janus Capital Group Inc., the Denver-based asset management firm.
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U.S. light-vehicle sales probably rose in December to wrap up a three-year run unrivaled in almost four decades as consumers replaced cars and trucks that are, on average, the oldest ever on the nation’s roads.
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General Motors Co. sees “clearly deteriorating” sales and pricing in Europe’s car market leading to restructuring across the industry, according to analysts who met with the automaker’s management yesterday.
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The pace of U.S. auto sales probably stalled for a second straight month in June as the labor market stumbled and confidence waned, leading analysts at Citigroup Inc. and Deutsche Bank AG to lower estimates for demand in 2013.
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The best year for U.S. auto sales since 2007 hasn’t been enough to boost General Motors Co.’s shares. One reason is dealership lots such as Dave Gill Chevrolet in Columbus, Ohio, that are overstocked with trucks.
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Automakers sold cars and trucks in the U.S. in February at the fastest clip in four years without outsized discounts or deliveries to less-profitable fleet customers, marking increased retail demand.
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A123 Systems Inc., the electric-car battery maker that filed for bankruptcy this week, had promising chemistry and marquee customers. What it couldn’t overcome, even with government funding, were missteps in manufacturing.
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Ford Motor Co.’s U.S. hourly workers ratified a new four-year contract that probably will lead to credit-rating upgrades. A return to investment-grade status may still be a 2012 event.
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Toyota Motor Corp. ’s February U.S. sales gain may be its second-biggest since last year’s record recalls, even after the world’s largest carmaker said it will have to fix more flawed vehicles.
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