NEW YORK, NY / ACCESSWIRE / March 12, 2018 / Despite the gain for Ford this past Friday, the company didn?t have pleasant news when it announced that February sales in China had fallen a steep 30%. Shares of General Motors closed flat after announcing plans to clean up GM Korea's balance sheet.

RDI Initiates Coverage on:

Ford Motor Company
https://rdinvesting.com/news/?ticker=F

General Motors Company
https://rdinvesting.com/news/?ticker=GM

Ford Motor Company shares closed up 1.13% on Friday with about 26.6 million shares traded. The automaker revealed last week that it's vehicle sales in China had fallen 30% in February compared to a year earlier. According to the head of Ford's Asia-Pacific operations, Peter Fleet, the decline last month was due partially to a few number of working days as China had its Chinese New Year holiday. It was in January that Ford said its sales fell 18% YOY. The company has no new products expected to hit China's market until the first quarter of 2019. Fleet has said that the company is aiming to reposition its business in the country and that the Ford's goals for 2018 are to "strengthen our core business, improve our operational fitness and accelerate our strategic shift to capitalize on emerging market opportunities." By 2025, the automaker has plans to launch over 50 new, or redesigned cars in China.

Access RDI's Ford Motor Company Research Report at:
https://rdinvesting.com/news/?ticker=F

General Motors Company shares closed flat on Friday on about 12.2 million shares traded. The company revealed last week that it would have a first quarter "cash crisis" over its investment in its South Korean business. The President of GM International, Barry Engle, said in a company letter that was seen by Reuters, that the company would convert into equity $2.7 billion in debt held by General Motors to clean up GM Korea's balance sheet. According to Engle, GM will "fund its portion of the $2.8 billion in investment required to bring products to market and update the tooling and equipment to build them." GM Korea released the following statement, "GM has said it will only provide additional funding if there is agreement on the necessary shared sacrifices with the union, the Government and the KDB." KDB, which is South Korea's state-run bank, owns a 17% stake in GM Korea.

Access RDI's General Motors Company Research Report at:
https://rdinvesting.com/news/?ticker=GM

Our Actionable Research on Ford Motor Company (NYSE: F) and General Motors Company (NYSE: GM) can be downloaded free of charge at Research Driven Investing.

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SOURCE: RDInvesting.com