Government Fleet Purchases Shore Up Hybrid Market In the face of three years of falling sales numbers for hybrid vehicles, the Obama administration has shored up the under-selling automotive segment by purchasing approximately 25 percent of Ford and General Motors' hybrid output since 2008.
Stresses on Auto Retirees' Pension Ease As the successful General Motors IPO has apparently affirmed, the federal bailout of the American automotive industry was a success, in particular avoiding the collapse of pension plans at the bankrupt corporations, a major fear of some economists at the height of the recession.
Obama Praises GM IPO as an Affirmation of Federal Bailout In remarks delivered Thursday, November 18 at the White House, President Obama said, "Today, one of the toughest tales of the recession took another big step towards becoming a success story." Affirming that American taxpayers will get their money back from the government bailout, the president characterized the nation's auto industry as on the rise.
General Motors Expands Scope of IPO General Motors has now announced its final plans to sell 478 million shares of common stock in its initial public offering at a price of $32 to $33 each, as well as $4 billion in preferred shares for a potential of as much as $22.7 billion to be raised.
With Four Models Returning 40 mpg, Ford Leads in Fuel Efficiency With the launch of the re-designed 2012 Focus compact, Ford Motor Co. expects to have four vehicles in its line with an EPA rating of 40 mpg. The other three in this exclusive club include the Fiesta subcompact SE with the SFE package, the Fusion hybrid, and the Lincoln MKA hybrid sedans.
Ford Stock Closes Week on Six-Year High On a week that saw the market end on a two-year high, shares of Ford Motor Co. closed above $16 for the first time in six years on Friday, November 5, a gain of 15 percent over five days of trading.
Pontiac Dies Quietly at Age 84 On Sunday, October 31, 2010, Pontiac died a quiet death at age 84 having not produced a car in almost a year and with many former dealers glad to no longer have the cars in their showrooms.
