Auto Sector

GM Planning Enlisting Eight More Banks as Bookrunners

General-MotorsGeneral Motors Co. is probably under the process of planning of enlisting eight more banks as joint bookrunners following the initial regulatory filing for its stock offers, as informed by someone familiar with the matter.

It is expected that the firm will file a prospectus with the U.S. Securities and Exchange Commission in the early parts of the approaching week.

Boss of General Motors is going to step down

Boss of General Motors is going to step downThe boss or the chief executive of the US firm General Motors has declared the plans about his resignation from the post. The current chief executive of General Motors, Edward Whitacre will step down from his post in the coming September.

Sales Volume Increase in June

Vehicals-retail-salesWith the highest increase recorded in the sales of vehicles, retail sales have increased seasonally and in the June quarter, inflation adjusted 1.3%, which was more than the expectations of the economists.

Statistics New Zealand has today revealed the figures and said that since March 2007 quarter, this has been the largest rise in the volumes.

Toyota’s investigations point out driver error in most of the cases

Toyota’s investigations point out driver error in most of the casesA first stage investigation for the accidents of Toyota cars has pointed out the driver fault as the primary cause of the accidents.

GM posts largest quarterly profit since 2004

General-MotorsThe top U.S. automaker General Motors Co has reported that it has posted its biggest quarterly profit in last six financial years. GM has announced its second quarter financial results for the ongoing financial year.

No Splash from Ford

No Splash from FordWhile the auto major Ford India refused to give away the Splash brand to Maruti Suzuki for the Ritz in the Indian market but the company has recently said that it has no plans to launch any product under the brand in the coming years.

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