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GM's 'Seeds of Growth' (2/14/13)

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  1. cold weather3:00
  2. New York Times2:54
  3. GM's0:26, 0:42, 1:00
  4. Dan Akerson0:40
  5. Ilan mosque3:11
  6. PSA1:34
  7. V64:03
  8. quarter earnings0:50
  9. European results1:29

Thu, 14 Feb 2013|

As red ink flows in Europe, CEO keeps goal to break even by mid-decade; dealerships on rise; Tesla battles Old Gray Lady.

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Automatically Generated Transcript (may not be 100% accurate)

We can't hit play defense we're trying to inflate offensive game plan with the other profitable year behind. GM prepares for a global search. We'll hear from the man leading the effort that. Thanks so much for joining us I'm Tom -- back. You're -- proved to be another drag on GM's earnings last year. But the auto makers still sees ways to grow not just there but worldwide. We planted a piece of growth in every region around the world. CEO Dan Akerson and recounting GM's global achievements in a conference call with analysts today. After the auto maker released 2012 in fourth quarter earnings. Among the high points last year. Record sales in China. New products in the pipeline in North America including GM's all important full size pick ups. And a pair of cars that are gaining traction in Europe. In Europe is an exciting to watch the -- Adam followed the -- that start. Especially. Both vehicles are new segment for the brand. GM's loss in Europe grew sharply last year to one point eight billion dollars. But Akerson since GM is also looking for growth in Russia. -- helped European results. As well as new products from its joint venture. With France's PSA Peugeot is it true that. It's our objective did that breakeven by that decade there. The number of US auto dealerships rose for the second straight year in 2012. And is projected to increase for the next few years that according to urban sciences 2012 automotive -- activity report released in Detroit today. The US store count grew about a half percent last year. Echoing the 2011 -- the growth reverses a decades long pattern. Urban sciences auto makers need to exercise discipline. Its US sales inquiries. If we were to get to a sales rate that was seventeen million every year for year after year then we probably would in general need additional dealers. If it's a peak. Then you don't want to cite your dealer network for the peak or the valley you know something in between us which one -- the size four. One other key takeaways from the study. Average vehicle sales per dealership in the states rose 13%. Last year to a record 812. Units. It's a case of he said he said. To recap. New York Times reporter John M Broder was recently test driving a Tesla model S in cold weather along the East Coast. Broder says the drive ended early with that evening out of juice and on a flatbed. Tesla boss Ilan mosque quickly took to Twitter after reading the February -- story. Describing the reporter's account -- quote. -- Yesterday mosque -- cars in the state of charge log revealed the model S battery never ran out of energy at any time. Must also says data shows the vehicle was driven it faster speeds than reported in the article. Before must publish that blog. Broder says Tesla CEO called them last Friday to offer sympathy and regrets about the outcome of the test drive. Bloomberg reports all of this comes a week before Tesla reports fourth quarter results. Tesla is counting on model -- sales to help but become profitable. Finally ram is bringing a three liter V6 can -- diesel to its 2014. Ram 15100. When that happens in the third quarter. Graham says it will be the only brand to offer a small displacement diesel for its half -- line of trucks. No official MPG numbers yet but rim expects the power train to deliver best in class fuel efficiency. And -- First shift with Jennifer bond comes your way first thing tomorrow morning. We'll see you tomorrow afternoon.

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