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GM Readies Pickup Push (10/23/12)

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  1. General Motors0:02, 2:06
  2. auto show0:41
  3. Latin America2:18
  4. GM0:29, 0:49, 0:58
  5. European Commission3:19
  6. PSA2:40, 2:53, 3:08
  7. GMC Sierra0:06, 0:32
  8. Lower Saxony3:11
  9. Royal Bank of Canada1:54

Tue, 23 Oct 2012|

GM pickup push | Ally sells a unit | Bailout, French style


Automatically Generated Transcript (may not be 100% accurate)

For all scorers. General Motors will reveal the redesigned Chevy Silverado and GMC Sierra and December. Signaling the next new products -- -- full size pick -- battle with Ford and Chrysler is close. Details coming up. Welcome on this Tuesday I'm -- Snyder sitting in today for -- war back. GM will introduce the redesigned Chevrolet Silverado and GMC Sierra at a media event in Detroit December 13. Many had expected the general to launch the full size pickups at the Detroit auto show in January. But this leaves the next -- Corvette as GM's undisputed star at the big dance. And GM can get the pick ups in the public dies sooner. The new pick up won't go on sale before next summer as when he fourteenth. Until then GM must compete with trucks largely unchanged since 2006. Against the Ford F series. The Toyota Tundra launched in 2007. And I knew ram pick up the Chrysler is launching this month. GM has had overbilled its pick up all year for planned spot shut down for retooling at three plants that build the pick ups. It is slightly -- stocks of the Silverado to 114. Day supply and Sierra to 124 days. And plans to get both down 8085 days by year end. But sales of the F series ram and tundra have risen faster than the GM twins all year. And Silverado and Sierra both fell in September. Photos GM is released show the new pickups have a taller behavior Friday and and more chrome. Auto under ally financial has agreed to sell its Canadian operations to the Royal Bank of Canada. The deal due to close in early 2013. Is expected to raise four point one billion US dollars. Ally once known as GM AC what was the financial arm of General Motors. Is now 74%. Owned by the US treasury. More than thirty bidders including banks -- Our interest -- and allies international operations which still include Europe and Latin America. Last week ally agreed to sell its Mexican insurance subsidiary for 865. Million in cash. Allied received. Seventeen billion in government bailouts and has to date repaid five point eight billion. Speaking of bailouts France's spelled out what it wants in return if it is this auto maker PSA Peugeot Citron. He has -- board seats and more. Industry minister are not -- or told newspaper liberation all France would rescue PSAs finance arm. But once PSA to a point government and worker representatives to its board. Guarantee all PSAs French plants would stay open and scale back planned job cuts. France already owns 15% of right no but currently none of PSA. But the German state of Lower Saxony. Volkswagen's second biggest shareholder said it opposes French -- for PSA. And indicated Germany would ask for European Commission review. And that's our show for today thanks for watching. Back tomorrow we'll see you back here. That.

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