Imark
Forumer storico
Per questo che l'azione sale.....devono far apparire che gli danno roba che vale
A sospettare si commette peccato...
PS: sono anco io peccatore ...
Obbligazioni societarie GM, Ford, Chrysler: il 3D dell'automotive USA
- Creatore Discussione Imark
- Data di Inizio
A sospettare si commette peccato...
PS: sono anco io peccatore ...
frankiemachine
Mr. Tentenna
ragazzi....vi vedo un po' smorti
non ci sarete mica rimasti male perchè Obama ha detto che le salva?
non ci sarete mica rimasti male perchè Obama ha detto che le salva?
Researcher
Stop Loss? No, Thanks!!!
ragazzi....vi vedo un po' smorti
non ci sarete mica rimasti male perchè Obama ha detto che le salva?
A me fa piacere se le salva.........anzi, tifo per loro...
SL66
oggi è un altro giorno
buongiorno
la mattinata inizia bene,
ottima notizia non credete:
Reuters - 27/02/2009 di 07:36: 14 GM, SAAB (GM.N) Il governo svedese ha trovato un compratore possibile per l'unità in perdita Saab del GM, Dagens quotidiano Industri ha detto la citazione della fonte non specificata. Il giornale ha detto che Saab già si era messo in contatto con da 8 candidati seri per sostituire il GM come proprietario, uno di cui è svedese. Le Saab all' Ikea? Makkina, makkinen? La fonte ha detto che il governo era disposto a discutere termini per la garanzia del prestito con la Banca di Investimento europea con i partiti interessati a comprare Saab.
circa 8 candidati per rilevare e parare il c..........a GM .......
penso, FORTUNATO , chi come me è dentro..................o sbaglio .............
la mattinata inizia bene,
ottima notizia non credete:
Reuters - 27/02/2009 di 07:36: 14 GM, SAAB (GM.N) Il governo svedese ha trovato un compratore possibile per l'unità in perdita Saab del GM, Dagens quotidiano Industri ha detto la citazione della fonte non specificata. Il giornale ha detto che Saab già si era messo in contatto con da 8 candidati seri per sostituire il GM come proprietario, uno di cui è svedese. Le Saab all' Ikea? Makkina, makkinen? La fonte ha detto che il governo era disposto a discutere termini per la garanzia del prestito con la Banca di Investimento europea con i partiti interessati a comprare Saab.
circa 8 candidati per rilevare e parare il c..........a GM .......
penso, FORTUNATO , chi come me è dentro..................o sbaglio .............
Capirex85
Value investor
Alè, ormai ci han preso gusto a scroccare soldi ai governi:
GM Said to Need European Aid in Weeks or Opel May Be Insolvent
By Jeff Green and Chris Reiter
Feb. 27 (Bloomberg) -- General Motors Corp. plans to tell Germany and other European governments it needs 3.3 billion euros in aid within weeks or it may run out of cash to run the Adam Opel GmbH unit, a person familiar with the matter said.
The request, being discussed today in Russelsheim, Germany, by Opel’s supervisory board, would include a GM commitment to invest 3 billion euros ($3.8 billion) to help restructure the unprofitable carmaker, said the person, who asked not to be named because the details aren’t public.
GM is seeking $1.2 billion in annual savings in Europe that may include plant closings to return to profit in the region by 2011, the person said.
GM Said to Need European Aid in Weeks or Opel May Be Insolvent
By Jeff Green and Chris Reiter
Feb. 27 (Bloomberg) -- General Motors Corp. plans to tell Germany and other European governments it needs 3.3 billion euros in aid within weeks or it may run out of cash to run the Adam Opel GmbH unit, a person familiar with the matter said.
The request, being discussed today in Russelsheim, Germany, by Opel’s supervisory board, would include a GM commitment to invest 3 billion euros ($3.8 billion) to help restructure the unprofitable carmaker, said the person, who asked not to be named because the details aren’t public.
GM is seeking $1.2 billion in annual savings in Europe that may include plant closings to return to profit in the region by 2011, the person said.
frankiemachine
Mr. Tentenna
è tutta la questione che deve necessariamente essere risolta in poche ''weeks''
spererei entro Pasqua
spererei entro Pasqua
Imark
Forumer storico
GM ha deciso di vendere tra il 25% ed il 50% di Opel ... resta solo da trovare il compratore...
Per un leader sindacale tedesco, gli acquirenti potrebbero essere i dipendenti, i dealers e non meglio precisati "altri investitori". Obiettivo il tentativo di sganciare parzialmente Opel da GM così da rendere meno impraticabile l'ipotesi di aiuti governativi europei alla società.
Tentativo abbastanza disperato, visto che in una fase in cui si reputa ci siano troppi gruppi automobilistici, appare difficile ipotizzare che si trovi qualcuno che investa in un parziale spin-off, trovandosi come socio al 50% GM.
GM May Give Up 50% of Opel to Secure European Bailout (Update3)
By Chris Reiter and Jeff Green
Feb. 27 (Bloomberg) -- General Motors Corp. may give up as much as 50 percent of its Opel unit after 80 years of ownership to help win 3.3 billion euros ($4.2 billion) in European state aid and save what’s left of its carmaking in the region.
Opel will be transformed into a separate legal entity, the unit’s 19-member supervisory board agreed at a meeting today at its base in Ruesselsheim, near Frankfurt.
“Opel needs to remain part of GM but will be considerably more independent than at present,” Carl-Peter Forster, GM’s top executive in Europe, said at a press briefing. The board hasn’t decided on any job or plant cuts as part of steps needed to reduce capacity and ensure “a profitable future,” he said.
GM, surviving on $13.4 billion in U.S. aid and seeking as much as $16.6 billion more, is in talks with governments in Germany, the U.K. and Spain for funds for Opel and the Luton, England-based Vauxhall brand. The biggest U.S. automaker yesterday reported a loss of $30.9 billion for 2008, including $2.8 billion from its European divisions.
Reorganizing in Europe is part of a global effort by Detroit-based GM to stay in business. Chief Executive Officer Rick Wagoner yesterday pressed his case with U.S. officials for new federal loans in a session that ran almost six hours, according to a person familiar with the matter.
GM fell 13 cents, or 5.5 percent, to $2.25 at 4:01 p.m. in New York Stock Exchange composite trading. The shares have tumbled 91 percent in the past year.
Opel Investment
GM plans to contribute 3 billion euros to support Opel, which is in talks with unions about paring expenses by 1.2 billion euros. Without backing from European governments, GM risks running out of cash to operate Opel, a person familiar with the matter said earlier today.
The U.S. company would be willing to cede 25 percent to 50 percent of Opel in order to secure aid and financing, Forster said. He said Opel can be profitable by 2011 and intends to pay back all of the aid it receives.
Potential stake buyers may include Opel employees and dealers as well as “other investors,” Klaus Franz, GM’s top labor leader in Europe, said at the press conference. The carmakers will continue to share technology and GM will provide patent rights to help Opel operate independently.
Waiting on Aid
GM gave Opel and Vauxhall until March 31 to complete reorganization plans and arrange government financing.
Opel and Vauxhall models are built in Germany, Belgium, Spain and the U.K. Keeping the factories running in those countries may hinge on the governments offering the most assistance, said Anil Valsan, global director of automotive research at Frost & Sullivan in London.
“They’re going to wait and see what comes in from the governments to decide on where they’re going to close plants,” Valsan said. The aid is likely come with strings attached “to ensure it goes into local investment.”
GM is considering closing plants in Bochum, Germany, and Antwerp, Belgium, and may sell the factory in Eisenach, Germany, a person familiar with the plans said earlier this month. Forster and Franz said today that GM would be amenable to sales, should buyers be found.
‘Sustainable’ Plan
Employees will need to cooperate in cutting capacity, Forster said. Franz called the plan “very sustainable.”
Details will be submitted to the German federal government on March 2, as well as to the four states where Opel has plants.
Forster said he planned to talk with German Economy Minister Karl-Theodor zu Guttenberg later today. Zu Guttenberg said in an e-mailed statement that he was “happy that a concept has been laid out” for discussion in the coming week.
The legal separation of Opel from GM is a prerequisite for aid as politicians, among them German leaders planning a parliamentary election for September, seek to ensure funds end up with the European division rather than the parent company.
Chancellor Angela Merkel said yesterday that loan guarantees are the type of aid “we have our eye on.”
Germany has the most at stake in an Opel rescue, because GM employs 26,000 of its 55,000 European employees there. Ulrich Wilhelm, a government spokesman, said Feb. 25 that federal authorities will “swiftly” start aid talks with GM once they receive the Opel business plan.
GM’s ‘Sensational’ Decision
GM’s willingness to give up some of Opel is “quite sensational,” said Christoph Stuermer, a Frankfurt-based automotive analyst at research firm IHS Global Insight. While “there’s no guarantee that Opel will survive in the hypercompetitive automotive industry,” the plan offers enough to secure aid.
Opel began as a manufacturer of sewing machines in 1862 and after becoming a carmaker was bought by GM in 1929.
Identified by a lightning-bolt trademark, the unit has been in slow decline for decades. Opel-Vauxhall’s market share in western Europe fell to 7.9 percent in 2008 from 12.6 percent in 1993, according to the European Automobile Manufacturers’ Association, as poor quality turned off consumers.
The new Insignia mid-sized sedan, which was introduced in November, has revived Opel’s reputation after being named the 2009 European Car of the Year by a group of trade journalists.
A German government program aimed at boosting demand amid the weakest car market since the country’s reunification in 1990 has also eased pressure on Opel. The carmaker said on Feb. 23 that the program, which offers a 2,500-euro rebate on trade-ins of cars older than nine years, led to sales exceeding 40,000 vehicles in February, the best month in five years.
GM Europe, which also includes the Saab Automobile brand, racked up $9.08 billion in losses from 2002 to 2008, burdened by costs for employee buyouts and other reorganization charges. Excluding these expenses, losses totaled $3.97 billion, according to GM data.
Saab, based in Trollhaettan, Sweden, filed for protection from creditors on Feb. 20 after GM said it will cut ties by the end of the year.
Per un leader sindacale tedesco, gli acquirenti potrebbero essere i dipendenti, i dealers e non meglio precisati "altri investitori". Obiettivo il tentativo di sganciare parzialmente Opel da GM così da rendere meno impraticabile l'ipotesi di aiuti governativi europei alla società.
Tentativo abbastanza disperato, visto che in una fase in cui si reputa ci siano troppi gruppi automobilistici, appare difficile ipotizzare che si trovi qualcuno che investa in un parziale spin-off, trovandosi come socio al 50% GM.
GM May Give Up 50% of Opel to Secure European Bailout (Update3)
By Chris Reiter and Jeff Green
Feb. 27 (Bloomberg) -- General Motors Corp. may give up as much as 50 percent of its Opel unit after 80 years of ownership to help win 3.3 billion euros ($4.2 billion) in European state aid and save what’s left of its carmaking in the region.
Opel will be transformed into a separate legal entity, the unit’s 19-member supervisory board agreed at a meeting today at its base in Ruesselsheim, near Frankfurt.
“Opel needs to remain part of GM but will be considerably more independent than at present,” Carl-Peter Forster, GM’s top executive in Europe, said at a press briefing. The board hasn’t decided on any job or plant cuts as part of steps needed to reduce capacity and ensure “a profitable future,” he said.
GM, surviving on $13.4 billion in U.S. aid and seeking as much as $16.6 billion more, is in talks with governments in Germany, the U.K. and Spain for funds for Opel and the Luton, England-based Vauxhall brand. The biggest U.S. automaker yesterday reported a loss of $30.9 billion for 2008, including $2.8 billion from its European divisions.
Reorganizing in Europe is part of a global effort by Detroit-based GM to stay in business. Chief Executive Officer Rick Wagoner yesterday pressed his case with U.S. officials for new federal loans in a session that ran almost six hours, according to a person familiar with the matter.
GM fell 13 cents, or 5.5 percent, to $2.25 at 4:01 p.m. in New York Stock Exchange composite trading. The shares have tumbled 91 percent in the past year.
Opel Investment
GM plans to contribute 3 billion euros to support Opel, which is in talks with unions about paring expenses by 1.2 billion euros. Without backing from European governments, GM risks running out of cash to operate Opel, a person familiar with the matter said earlier today.
The U.S. company would be willing to cede 25 percent to 50 percent of Opel in order to secure aid and financing, Forster said. He said Opel can be profitable by 2011 and intends to pay back all of the aid it receives.
Potential stake buyers may include Opel employees and dealers as well as “other investors,” Klaus Franz, GM’s top labor leader in Europe, said at the press conference. The carmakers will continue to share technology and GM will provide patent rights to help Opel operate independently.
Waiting on Aid
GM gave Opel and Vauxhall until March 31 to complete reorganization plans and arrange government financing.
Opel and Vauxhall models are built in Germany, Belgium, Spain and the U.K. Keeping the factories running in those countries may hinge on the governments offering the most assistance, said Anil Valsan, global director of automotive research at Frost & Sullivan in London.
“They’re going to wait and see what comes in from the governments to decide on where they’re going to close plants,” Valsan said. The aid is likely come with strings attached “to ensure it goes into local investment.”
GM is considering closing plants in Bochum, Germany, and Antwerp, Belgium, and may sell the factory in Eisenach, Germany, a person familiar with the plans said earlier this month. Forster and Franz said today that GM would be amenable to sales, should buyers be found.
‘Sustainable’ Plan
Employees will need to cooperate in cutting capacity, Forster said. Franz called the plan “very sustainable.”
Details will be submitted to the German federal government on March 2, as well as to the four states where Opel has plants.
Forster said he planned to talk with German Economy Minister Karl-Theodor zu Guttenberg later today. Zu Guttenberg said in an e-mailed statement that he was “happy that a concept has been laid out” for discussion in the coming week.
The legal separation of Opel from GM is a prerequisite for aid as politicians, among them German leaders planning a parliamentary election for September, seek to ensure funds end up with the European division rather than the parent company.
Chancellor Angela Merkel said yesterday that loan guarantees are the type of aid “we have our eye on.”
Germany has the most at stake in an Opel rescue, because GM employs 26,000 of its 55,000 European employees there. Ulrich Wilhelm, a government spokesman, said Feb. 25 that federal authorities will “swiftly” start aid talks with GM once they receive the Opel business plan.
GM’s ‘Sensational’ Decision
GM’s willingness to give up some of Opel is “quite sensational,” said Christoph Stuermer, a Frankfurt-based automotive analyst at research firm IHS Global Insight. While “there’s no guarantee that Opel will survive in the hypercompetitive automotive industry,” the plan offers enough to secure aid.
Opel began as a manufacturer of sewing machines in 1862 and after becoming a carmaker was bought by GM in 1929.
Identified by a lightning-bolt trademark, the unit has been in slow decline for decades. Opel-Vauxhall’s market share in western Europe fell to 7.9 percent in 2008 from 12.6 percent in 1993, according to the European Automobile Manufacturers’ Association, as poor quality turned off consumers.
The new Insignia mid-sized sedan, which was introduced in November, has revived Opel’s reputation after being named the 2009 European Car of the Year by a group of trade journalists.
A German government program aimed at boosting demand amid the weakest car market since the country’s reunification in 1990 has also eased pressure on Opel. The carmaker said on Feb. 23 that the program, which offers a 2,500-euro rebate on trade-ins of cars older than nine years, led to sales exceeding 40,000 vehicles in February, the best month in five years.
GM Europe, which also includes the Saab Automobile brand, racked up $9.08 billion in losses from 2002 to 2008, burdened by costs for employee buyouts and other reorganization charges. Excluding these expenses, losses totaled $3.97 billion, according to GM data.
Saab, based in Trollhaettan, Sweden, filed for protection from creditors on Feb. 20 after GM said it will cut ties by the end of the year.
lorenzo63
Age quod Agis
Saab ed Hummer for sale (da GM)
Ed a proposito di GM: (ho appena letto nel 3ad del cazzeggio le considerazioni dell'ING): GM sta trattando a 360° per vendere i gioielli della corona (si fa per dire) Saab + Volvo + Hummer, e sembra abbia diversi investitori privati interessati a rilevare i marchi...
GENEVA -- General Motors Corp.'s flagging Saab division will accelerate talks this week with "a number" of potential buyers, the ailing unit's top executive said on Monday.
Saab Managing Director Jan Ake Jonsson, in an interview at the Geneva auto show, said Saab is working with Deutsche Bank and has begun discussions with potential investors from both the auto industry and with investors outside the industry. He declined to name any of Saab's suitors, but said it is possible a deal could be completed by next year.
Mr. Jonsson also said Saab needs 500 million euros in aid from the Swedish government to survive amid the deep downturn in global auto sales. Saab recently sought to reorganize under court protection in Sweden, a process similar to Chapter 11 bankruptcy protection in the U.S.
The reorganization was prompted by GM's decision to turn Saab into an independent company. Saab will be challenged to survive on its own, however. GM and Saab have asked the Swedish government for financial aid, but the request has not yet been granted.
Without aid, Saab could run out of money, Mr. Jonsson acknowledged.
Mr. Jonsson added he is confident Saab can attract government support thanks to its importance to Sweden's economy. Saab and its suppliers employ 15,000 people in Sweden, and it has more than 1,000 dealers worldwide.
Saab is committed to reaching profitability by 2011, Mr. Jonsson said. That commitment is at the core of its discussions with the Swedish government concerning the need for loans to keep it afloat.
"The Saab brand at this point is very relevant," he said. Saab's vehicles are known to be fuel-efficient and sporty, a combination that appeals to certain consumers in the U.S. and Europe.
Its sales fell to fewer than 100,000 vehicles in 2008, down from a peak of 130,000 in 2006, mainly because it has only had three vehicles in its line up and GM has not updated its main models. The Saab 9-5 sedan has been on the market for 12 years old, and the 9-3 sedan seven.
Saab is minor in the grand scheme of GM's international operations. But it is symbolic of the strategy that GM Chief Executive Rick Wagoner is being forced to abandon as he lobbies for tens of billions government aid in the U.S., Canada and Europe.
GM's large stable of brands, long criticized as bloated by outsiders, was supposed to help the auto maker cast a wide net over various types of buyers in the industry. But that approach was costly and complex.
In an interview Friday, GM Chief Operating Officer Fritz Henderson said GM was "on the cusp" of launching new Saab models, but then the company's "revenue collapsed" when auto sales fell dramatically in the second half of 2008.
"Therefore you end up saying we just can't do it anymore," Mr. Henderson said.
Saab is using the Geneva auto show as the venue to unveil a new all-wheel-drive wagon variant of its 9-3. The unit is also poised to launch a redesigned 9-5 sedan and debut the 9-4X crossover in the coming year.
Mr. Jonsson said Saab is working to reassure potential customers who might be unwilling to consider a car from a company going through court-protected reorganization. "We're not naïve in terms of believing that what has happened in the past couple weeks has not impacted customer's judgment," he said.
Technically, Saab needs to be reorganized by May 20th, under Swedish law, but it is allowed to file for delays of up to a year.
Saab is the first in a line of assets that could fail for GM in coming moths due to a lack of cash and dwindling sales. On Monday, company officials and labor representatives lobbied the German government in Berlin for the bulk of a 3.3 billion euro loan that is needed to keep Opel and other European operations afloat after March.
A GM official said the meeting gave GM a chance to lay out plans for German officials. He said officials asked executives a lot of questions, and the auto maker will now go to work answering them.
The auto maker is also looking to sell or close its Hummer and Saturn brands. GM is discussing a potential takeover of Saturn by its dealers. While there have been a handful of private investors interested in purchasing Hummer, it is unclear whether the company will complete a sale by a self-imposed deadline of March 31.
GM has offered to give Saab $400 million and plants and machinery for its new models, but said Saab needs outside funding to survive. Saab needs the Swedish government to make additional loan commitments so that it can become independent.
With the global auto industry hitting the brakes amid widespread economic downturn, Saab's chances of finding another investor appears to be an uphill battle.
"A key issue for a buyer is going to be whether they can cut an attractive deal (for both sides) with GM regarding manufacturing capacity, supply base continuity, and access to future platforms that are already in the pipeline," Michael D. Benson, an investment banker with Stout Risius Ross Advisors in Southfield, Mich., said.
Mr. Jonsson played down the possibility of seeing his company tie up with Sweden-based Volvo, which Ford Motor Co. is looking to sell. "There is too much overlap" between the brands, he said.
Ed a proposito di GM: (ho appena letto nel 3ad del cazzeggio le considerazioni dell'ING
): GM sta trattando a 360° per vendere i gioielli della corona (si fa per dire) Saab + Volvo + Hummer, e sembra abbia diversi investitori privati interessati a rilevare i marchi...GENEVA -- General Motors Corp.'s flagging Saab division will accelerate talks this week with "a number" of potential buyers, the ailing unit's top executive said on Monday.
Saab Managing Director Jan Ake Jonsson, in an interview at the Geneva auto show, said Saab is working with Deutsche Bank and has begun discussions with potential investors from both the auto industry and with investors outside the industry. He declined to name any of Saab's suitors, but said it is possible a deal could be completed by next year.
Mr. Jonsson also said Saab needs 500 million euros in aid from the Swedish government to survive amid the deep downturn in global auto sales. Saab recently sought to reorganize under court protection in Sweden, a process similar to Chapter 11 bankruptcy protection in the U.S.
The reorganization was prompted by GM's decision to turn Saab into an independent company. Saab will be challenged to survive on its own, however. GM and Saab have asked the Swedish government for financial aid, but the request has not yet been granted.
Without aid, Saab could run out of money, Mr. Jonsson acknowledged.
Mr. Jonsson added he is confident Saab can attract government support thanks to its importance to Sweden's economy. Saab and its suppliers employ 15,000 people in Sweden, and it has more than 1,000 dealers worldwide.
Saab is committed to reaching profitability by 2011, Mr. Jonsson said. That commitment is at the core of its discussions with the Swedish government concerning the need for loans to keep it afloat.
"The Saab brand at this point is very relevant," he said. Saab's vehicles are known to be fuel-efficient and sporty, a combination that appeals to certain consumers in the U.S. and Europe.
Its sales fell to fewer than 100,000 vehicles in 2008, down from a peak of 130,000 in 2006, mainly because it has only had three vehicles in its line up and GM has not updated its main models. The Saab 9-5 sedan has been on the market for 12 years old, and the 9-3 sedan seven.
Saab is minor in the grand scheme of GM's international operations. But it is symbolic of the strategy that GM Chief Executive Rick Wagoner is being forced to abandon as he lobbies for tens of billions government aid in the U.S., Canada and Europe.
GM's large stable of brands, long criticized as bloated by outsiders, was supposed to help the auto maker cast a wide net over various types of buyers in the industry. But that approach was costly and complex.
In an interview Friday, GM Chief Operating Officer Fritz Henderson said GM was "on the cusp" of launching new Saab models, but then the company's "revenue collapsed" when auto sales fell dramatically in the second half of 2008.
"Therefore you end up saying we just can't do it anymore," Mr. Henderson said.
Saab is using the Geneva auto show as the venue to unveil a new all-wheel-drive wagon variant of its 9-3. The unit is also poised to launch a redesigned 9-5 sedan and debut the 9-4X crossover in the coming year.
Mr. Jonsson said Saab is working to reassure potential customers who might be unwilling to consider a car from a company going through court-protected reorganization. "We're not naïve in terms of believing that what has happened in the past couple weeks has not impacted customer's judgment," he said.
Technically, Saab needs to be reorganized by May 20th, under Swedish law, but it is allowed to file for delays of up to a year.
Saab is the first in a line of assets that could fail for GM in coming moths due to a lack of cash and dwindling sales. On Monday, company officials and labor representatives lobbied the German government in Berlin for the bulk of a 3.3 billion euro loan that is needed to keep Opel and other European operations afloat after March.
A GM official said the meeting gave GM a chance to lay out plans for German officials. He said officials asked executives a lot of questions, and the auto maker will now go to work answering them.
The auto maker is also looking to sell or close its Hummer and Saturn brands. GM is discussing a potential takeover of Saturn by its dealers. While there have been a handful of private investors interested in purchasing Hummer, it is unclear whether the company will complete a sale by a self-imposed deadline of March 31.
GM has offered to give Saab $400 million and plants and machinery for its new models, but said Saab needs outside funding to survive. Saab needs the Swedish government to make additional loan commitments so that it can become independent.
With the global auto industry hitting the brakes amid widespread economic downturn, Saab's chances of finding another investor appears to be an uphill battle.
"A key issue for a buyer is going to be whether they can cut an attractive deal (for both sides) with GM regarding manufacturing capacity, supply base continuity, and access to future platforms that are already in the pipeline," Michael D. Benson, an investment banker with Stout Risius Ross Advisors in Southfield, Mich., said.
Mr. Jonsson played down the possibility of seeing his company tie up with Sweden-based Volvo, which Ford Motor Co. is looking to sell. "There is too much overlap" between the brands, he said.
lorenzo63
Age quod Agis
Geely (China) interessata a Volvo (Ford)
BEIJING -- Geely Holding Group is likely to submit a bid to acquire Ford Motor Co.'s Volvo brand, people familiar with the situation said, in what would be a bold attempt by the Chinese auto maker to expand internationally amid the global downturn.
Getty Images
A Geely Auto GAV1 Concept car is displayed at the Auto Guangzhou 2008 Exhibition.
Geely is expected to submit a bid for the Swedish car maker as soon as next week, two people familiar with the situation said. There are at least three other possible bidders, one of which is also a Chinese company, according to one of the people.
Ford and Geely have been talking about Volvo for several weeks, the two people said. According to one of those individuals, Geely Chairman Li Shufu met with senior Ford executives in mid-January, around the time of the Detroit auto show, in Dearborn, Mich., where Ford is based. Other representatives of the two companies have held separate talks in recent weeks, the person said.
Ford had no immediate comment, but a person close to the company acknowledged the Chinese company had been in talks with Ford for more than a year over a possible Volvo deal.
Wang Ziliang, a spokesman for Geely, declined to comment Monday. In early February, Mr. Li, speaking through an assistant, denied a news report that his company was holding talks with Ford about buying Volvo.
Many analysts believe this could be the start of a wave of consolidation in the auto industry brought on by the economic crisis and the lowering of consumer demand due to tighter credit. In December, Fiat SpA Chief Executive Sergio Marchionne predicted that only six major auto makers would survive globally.
Three European auto brands -- General Motors Corp.'s Saab and Opel, and Ford's Volvo -- have effectively been put on the block in recent weeks as the U.S. auto giants try to cut costs and restructure.
A Geely bid for Volvo would be an unusual and risky move for a Chinese auto maker to take advantage of the global downturn and leap forward with its international ambitions.
Chinese companies have made a string of investments in natural resources, but so far have largely avoided buying major assets in other industries such as finance and manufacturing, despite often fire-sale prices.
Chinese auto companies have acquired foreign assets in the past -- with mixed success -- but never on Volvo's scale. On Friday, Chen Bin, a senior official with the National Development and Reform Commission, China's main economic planning agency, publicly warned about the risks that acquiring a struggling foreign auto concern would pose for Chinese car makers.
"We need their technology, brands, talent and sales networks," he said, referring to foreign car makers. But "it will be a very big challenge for Chinese companies to stabilize the operations of foreign auto makers and to maintain growth."
If its planned bid is successful, Geely intends to maintain Volvo as an international brand, rather than turn it into a brand more focused on China, said one of the two people familiar with the matter. However, Geely might shift some of Volvo's production to China to take advantage of China's less-expensive labor and reap other benefits.
Geely has begun working with a U.S.-based consulting firm to put together a list of possible managers to run Volvo under Geely ownership, one of the two people said.
Last year, Volvo's U.S. sales fell almost 32%. It also saw declines in its market share in the U.S. and Europe. The Swedish brand posted a $736 million operating loss in the fourth quarter. As part of its restructuring, Volvo trimmed one-fourth of its work force by the end of last year.
Ford earlier this year began asking companies that may want to bid for Volvo to identify themselves. The people familiar with the process said it has evolved far enough for Ford to accept offers that the company is ready to compare.
BEIJING -- Geely Holding Group is likely to submit a bid to acquire Ford Motor Co.'s Volvo brand, people familiar with the situation said, in what would be a bold attempt by the Chinese auto maker to expand internationally amid the global downturn.
Getty Images
A Geely Auto GAV1 Concept car is displayed at the Auto Guangzhou 2008 Exhibition.
Geely is expected to submit a bid for the Swedish car maker as soon as next week, two people familiar with the situation said. There are at least three other possible bidders, one of which is also a Chinese company, according to one of the people.
Ford and Geely have been talking about Volvo for several weeks, the two people said. According to one of those individuals, Geely Chairman Li Shufu met with senior Ford executives in mid-January, around the time of the Detroit auto show, in Dearborn, Mich., where Ford is based. Other representatives of the two companies have held separate talks in recent weeks, the person said.
Ford had no immediate comment, but a person close to the company acknowledged the Chinese company had been in talks with Ford for more than a year over a possible Volvo deal.
Wang Ziliang, a spokesman for Geely, declined to comment Monday. In early February, Mr. Li, speaking through an assistant, denied a news report that his company was holding talks with Ford about buying Volvo.
Many analysts believe this could be the start of a wave of consolidation in the auto industry brought on by the economic crisis and the lowering of consumer demand due to tighter credit. In December, Fiat SpA Chief Executive Sergio Marchionne predicted that only six major auto makers would survive globally.
Three European auto brands -- General Motors Corp.'s Saab and Opel, and Ford's Volvo -- have effectively been put on the block in recent weeks as the U.S. auto giants try to cut costs and restructure.
A Geely bid for Volvo would be an unusual and risky move for a Chinese auto maker to take advantage of the global downturn and leap forward with its international ambitions.
Chinese companies have made a string of investments in natural resources, but so far have largely avoided buying major assets in other industries such as finance and manufacturing, despite often fire-sale prices.
Chinese auto companies have acquired foreign assets in the past -- with mixed success -- but never on Volvo's scale. On Friday, Chen Bin, a senior official with the National Development and Reform Commission, China's main economic planning agency, publicly warned about the risks that acquiring a struggling foreign auto concern would pose for Chinese car makers.
"We need their technology, brands, talent and sales networks," he said, referring to foreign car makers. But "it will be a very big challenge for Chinese companies to stabilize the operations of foreign auto makers and to maintain growth."
If its planned bid is successful, Geely intends to maintain Volvo as an international brand, rather than turn it into a brand more focused on China, said one of the two people familiar with the matter. However, Geely might shift some of Volvo's production to China to take advantage of China's less-expensive labor and reap other benefits.
Geely has begun working with a U.S.-based consulting firm to put together a list of possible managers to run Volvo under Geely ownership, one of the two people said.
Last year, Volvo's U.S. sales fell almost 32%. It also saw declines in its market share in the U.S. and Europe. The Swedish brand posted a $736 million operating loss in the fourth quarter. As part of its restructuring, Volvo trimmed one-fourth of its work force by the end of last year.
Ford earlier this year began asking companies that may want to bid for Volvo to identify themselves. The people familiar with the process said it has evolved far enough for Ford to accept offers that the company is ready to compare.
Imark
Forumer storico
Vendite Ford sul mercato USA a febbraio: -48%
Ford ha deciso di ridurre la produzione del 38% y-o-y per il secondo trimestre dell'anno...
Ci sono meno soldi: molti potenziali acquirenti alla fine optano per l'usato...
Ford sales dive 48 percent as auto slump continues
Ford sales drop 48 percent as economic woes continue to keep buyers away from showrooms
DETROIT (AP) -- Ford Motor Co.'s U.S. sales fell 48 percent in February, a sign that the new car market could hit the lowest point in more than 27 years as huge rebates and low-interest financing fail to spur fearful consumers to make a major purchase.
Ford, the first automaker to report sales Tuesday, said it sold 99,060 vehicles last month, compared with the 192,248 it sold in February 2008.
The drop is another indication that mass layoffs, the stock market decline and sliding home values are prompting people to hold on to their cars longer. Those who are buying are more often opting for a used car or truck.
It also casts further doubt on the financial viability of General Motors Corp. and Chrysler LLC, making it difficult for them to sell cars and generate critical cash to supplement the $17.4 billion in government loans that are keeping them in business.
Industry analysts say when all the numbers are tallied, February sales could be worse than January's total of 656,976 light vehicles. That was the lowest monthly total since the industry sold 656,310 vehicles in December 1981, according to Autodata Corp. and Ward's AutoInfoBank.
The trough is likely even though automakers spent more on rebates, low-interest financing and other incentives in an effort to bring out buyers. But despite the fantastic deals, sales continued to slump.
"If it wasn't for the generous level of incentives now, we probably would be seeing even lower sales, if you can believe it," said Jesse Toprak, executive director of industry analysis for the auto Web site Edmunds.com. "It seems it can't get lower, but it could."
Ford is preparing for sales to remain depressed. The Dearborn company said it plans to produce 425,000 vehicles in the second quarter, down 38 percent from the 685,000 it made in last year's April-June period.
Toprak said there's little automakers can do to spur sales, which are likely to drop for every major automaker.
"You can spend money on marketing or incentives. That's all you can do," he said. "Neither is having a big impact on sales. That tells us it's really consumer confidence and the general negative state of the economy overall causing consumers to postpone making purchase decisions."
Industrywide, the average incentive per vehicle last month rose 8 percent from January to $2,914 per vehicle sold, Edmunds said. Incentives climbed to an average of 20 percent of the sticker price of a new car, and they topped more than $10,000 on some vehicles.
But more people opted for a used car instead, indicating that those who need to buy a vehicle are spending less. Edmunds said its data show that 27 percent of people who intended to buy a new car switched to used at the dealership in February.
There is hope for a rebound, however. Rising used car prices are an indication that new car sales may be near the bottom, because more people will opt for new cars when they see they won't save as much by buying a used vehicle.
The sales slump is hitting Ford at both ends of its model lineup. Sales of its F-Series truck, traditionally the best-selling vehicle in the U.S., fell 55 percent, while sales of the Focus small car also dropped, by 39 percent.
The Associated Press reports unadjusted auto sales figures, calculating the percentage change in the total number of light vehicles sold in one month compared with the same month a year earlier. Some automakers report percentages adjusted for sales days. There were 24 sales days last month, one fewer than in February 2008.
Ford ha deciso di ridurre la produzione del 38% y-o-y per il secondo trimestre dell'anno...
Ci sono meno soldi: molti potenziali acquirenti alla fine optano per l'usato...
Ford sales dive 48 percent as auto slump continues
Ford sales drop 48 percent as economic woes continue to keep buyers away from showrooms
DETROIT (AP) -- Ford Motor Co.'s U.S. sales fell 48 percent in February, a sign that the new car market could hit the lowest point in more than 27 years as huge rebates and low-interest financing fail to spur fearful consumers to make a major purchase.
Ford, the first automaker to report sales Tuesday, said it sold 99,060 vehicles last month, compared with the 192,248 it sold in February 2008.
The drop is another indication that mass layoffs, the stock market decline and sliding home values are prompting people to hold on to their cars longer. Those who are buying are more often opting for a used car or truck.
It also casts further doubt on the financial viability of General Motors Corp. and Chrysler LLC, making it difficult for them to sell cars and generate critical cash to supplement the $17.4 billion in government loans that are keeping them in business.
Industry analysts say when all the numbers are tallied, February sales could be worse than January's total of 656,976 light vehicles. That was the lowest monthly total since the industry sold 656,310 vehicles in December 1981, according to Autodata Corp. and Ward's AutoInfoBank.
The trough is likely even though automakers spent more on rebates, low-interest financing and other incentives in an effort to bring out buyers. But despite the fantastic deals, sales continued to slump.
"If it wasn't for the generous level of incentives now, we probably would be seeing even lower sales, if you can believe it," said Jesse Toprak, executive director of industry analysis for the auto Web site Edmunds.com. "It seems it can't get lower, but it could."
Ford is preparing for sales to remain depressed. The Dearborn company said it plans to produce 425,000 vehicles in the second quarter, down 38 percent from the 685,000 it made in last year's April-June period.
Toprak said there's little automakers can do to spur sales, which are likely to drop for every major automaker.
"You can spend money on marketing or incentives. That's all you can do," he said. "Neither is having a big impact on sales. That tells us it's really consumer confidence and the general negative state of the economy overall causing consumers to postpone making purchase decisions."
Industrywide, the average incentive per vehicle last month rose 8 percent from January to $2,914 per vehicle sold, Edmunds said. Incentives climbed to an average of 20 percent of the sticker price of a new car, and they topped more than $10,000 on some vehicles.
But more people opted for a used car instead, indicating that those who need to buy a vehicle are spending less. Edmunds said its data show that 27 percent of people who intended to buy a new car switched to used at the dealership in February.
There is hope for a rebound, however. Rising used car prices are an indication that new car sales may be near the bottom, because more people will opt for new cars when they see they won't save as much by buying a used vehicle.
The sales slump is hitting Ford at both ends of its model lineup. Sales of its F-Series truck, traditionally the best-selling vehicle in the U.S., fell 55 percent, while sales of the Focus small car also dropped, by 39 percent.
The Associated Press reports unadjusted auto sales figures, calculating the percentage change in the total number of light vehicles sold in one month compared with the same month a year earlier. Some automakers report percentages adjusted for sales days. There were 24 sales days last month, one fewer than in February 2008.
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