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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.


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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    Eight polling that Tug of war what heavy duty YouTube has poured threatening to life. You're watching auto news now. Good to see you on this Monday. I'm Tom back for Ford and Chrysler the stakes couldn't be higher. According to true cart dot com heavy duty pickups represent 23%. Of all pick up sales in the US. In one of the main reasons to buy a big truck. Towing capability. a battle is raging between Ford and Chrysler's ram Brad. Over who can claim best in class Ford is threatening legal action if keeps claiming its pickups have besting class We're talking so called fifth wheel or goose neck trailer is connected in the pick up that. So here's the issue. Ford says 2015. F 454. By four crew cab can 31200. House. That's about 12100 pounds more than the highest capacity 3500. Which is rated at 30000. Pounds. But rim says the trucks are not even in the same class. It's is the F 450 is a class four pick up in fact the only class four pick up on the market. says the 3500. Actually competes against the F 350. In GM's 3500. Heavy duties. Reporter Larry tells us Ford does something no other automaker does when setting its maximum payload for the F series. It removes items like the radio. The spare tire the Jack. In the center console in order to produced the maximum number for its payload that's a questionable practice because a component truck over. Into another class. Larry says under the system used by other auto makers the F 450 would be considered class war. For more story in today's print and digital editions of Automotive News. Ford is raising prices on the new one in fifteen aluminum body F 150 pick up. Like 340 dollars to 3385. Bucks. The king ranch sees the biggest price increase over the 2014 model. Ford however has upped the standard equipment in all models of the truck for example to information screens are standard. Our Richard true it is also reporting the auto maker is trimming the number of F 150 models from eleven to five. With the new truck arrives this fall popular name plates such as the raptor in limited will be gone. Dealers started ordering the pick ups today. More business may be on the way to service based in GM dealerships. That's because the auto maker is offering buyers of its 2015 models for monthly vehicle diagnostic reports through OnStar. The move also allows customers to sign up to receive maintenance notifications from their stores. Both services will be offered at no charge for five years under a plan named OnStar basic. Previously. They were available only to paying OnStar subscribers. GM says that customers who are emailed me notifications from their dealerships. Come in for two additional service visits a year on average. Compared with customers who don't receive that. Cash for clunkers a phrase that was all the rage five years ago this month. Officially known as the car allowance rebate system clunkers was a lifeline at a desperate time in the US auto industry. US sales in June of 2009 dropped 28%. wasn't so lawful because every other month that your have been worse. But thanks to clunkers which provided consumers as much as 4500 bucks to trade in an old gas guzzler for a more fuel efficient new vehicle. July 2009 sales were off just 12%. In August sales that year were up 1%. In the end nearly 700000. Vehicles were traded in through the two point 85 billion dollar federal program. Have a great day everyone. We'll see you back here tomorrow.