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GM to Seal Stock Buy (12/21/12)

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  1. dodge2:07
  2. General Motors0:21
  3. vice president2:06, 2:26, 2:32
  4. middle east2:18
  5. United States2:12, 2:45
  6. GM0:35, 0:54, 1:01
  7. JD power1:38
  8. American Suzuki2:42
  9. Automotive News5:01
  10. Christmas Day4:45

Fri, 21 Dec 2012|

$5.5 billion U.S. share purchase closing today; a shift at Nissan; ironic twist for Suzuki; dealers, Mini poke apocalyptic fun.

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Automatically Generated Transcript (may not be 100% accurate)

We aren't actually glad to see you on this December 21 that Jennifer -- You at the industry is doing and minted doomsday buttons. All of begin with your headline. It's a big today for General Motors. The automaker expected to close on its purchase of 200 million shares friendly US Treasury Department. According to a filing with the US Securities and Exchange Commission. GM will pay the government at 27 dollars and fifty cents in cash for each share. For a total of five point five billion dollars. The US said earlier this week that it expects to sell its remaining shares in twelve to fifteen months. GM also disclosing that under the agreement. The Treasury Department at waived its right to inspect certain GM financial books records and property. As part of the US led rescue of two yen in 2009. Auto maker was required to supply financial data and why does the government held at least 10% of its years. After today's sale the government will own about 300 million shares. Forty fully diluted stake up 19%. Looks like car shoppers had been unfazed by uncertainty. Related to this so called fiscal cliff looming and 1%. JD power & Associates along with -- the automotive. Predicting -- December US auto sales will be up 14%. This seasonally adjusted annual rate of sales they're predicting fifteen point three million. That are in November with fifteen point six million the highest since January of 2008. It personnel shift and needs signed executive vice president Colin dodge is lightening his workload. Partly so he can focus more on the United States. Dies it will handoff responsibility for Africa the middle east India and the European region. To -- ever man on -- effective January 1. Man now senior vice president in charge of supply chain management. Will be promoted to executive vice president. As the role of chairman of Europe and emerging markets. Finally in a broad development at American Suzuki which is planning -- and sales in the United States. Bloomberg says that Suzuki plans to import 2500. More cars to the US. And meet demand. Which jumped after the company filed for bankruptcy. In -- event her. Okay is that we only made it through the apocalypse. An event predicted for today by the millions more of the millennium ago. One auto maker taking advantage of the and to the world height the W mini. The brand showing off photos of a Mini Cooper in Guatemala. Where it says more than half the population and are considered direct descendants of the lions. Doom and gloom not a treatment sites that many instead festive celebration. Maybe -- noting that the central and south American region -- along its strong growth market. Now at some dealers are cashing in on Armageddon sales as the year winds down. According to the Mayan calendar the world blend on December 24. So cash in before we all cash out. Save huge on all remaining 2012. Hours before the years transformed itself into only shifting death trap. The Humber review group which has Ford GM dealerships in the Toronto area. And -- running radio ads similar have been outlined in early November. And had this theme at this checking spot in this year's suitable. And if we leave you in just a couple of brief -- get holiday spirit. Toyota's Lexus brand get the anti a new ride. Check out the Lexus flying luxury cruiser. It produces not horse power but 800 read your power. And GM's OnStar and again giving kids a way to track Santa. On Christmas Day subscribers can push the blue button that old -- -- whereabouts. And we'll be off on Monday and Tuesday for the Holiday. Inn on Wednesday all the -- my colleague tongue or back. -- special edition of Automotive News TV you won't want to miss it take care and we'll see you then.

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