Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

4-Traders Homepage  >  Equities  >  Nyse  >  General Motors Company    GM

Delayed Quote. Delayed  - 07/29 10:00:31 pm
31.54 USD   +1.77%
08:43p GENERAL MOTORS : Al Wefaq Rent A Car contest ‘successful&rsquo..
07/29 FIAT CHRYSLER A : U.S. extends oversight of Fiat Chrysler safety pra..
07/29 FIAT CHRYSLER A : U.S. extends oversight of Fiat Chrysler safety pra..
SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

GM pledges $7.3 billion investment in South Korea unit

share with twitter share with LinkedIn share with facebook
share via e-mail
0
02/22/2013 | 05:30am CEST

General Motors Co (>> General Motors Company) said it would invest $7.3 billion in its South Korean unit over the next five years -- an amount which will likely help relieve concerns that the U.S. automaker was set to reduce its presence in the country.

General Motors Co (>> General Motors Company) said it would invest $7.3 billion in its South Korean unit over the next five years -- an amount which will likely help relieve concerns that the U.S. automaker was set to reduce its presence in the country.

Fears of output cuts and layoffs had grown after GM said it was interested in gaining full control of GM Korea by buying a 17 percent stake from the unit's second-biggest shareholder, a move that was seen as possibly paving the way for restructuring steps.

Those worries intensified after GM Korea said late last year it would not build its next-generation Chevrolet Cruze small car in South Korea.

But GM said its 8 trillion won investment in improving manufacturing and engineering capabilities underscores South Korea's importance as a key production and development base, even if the domestic market is relatively small.

"GM Korea will continue to play a major role in our global growth plans," Tim Lee, head of international operations at GM, said in a statement.

GM Korea, which has five manufacturing facilities in South Korea, said it will produce six upgraded versions of GM models currently built, including global mini, small and midsize cars. It reiterated it will build GM's first global full battery electric vehicle.

South Korea exports Chevrolet-branded cars to Europe and other regions and accounts for about a quarter of GM's Chevy production globally. It also has design and engineering centers in South Korea, which have developed the Spark and Aveo mini cars and the Trax sport utility vehicle.

GM Korea reiterated a plan to double the size of its design center at its headquarters in Incheon by the end of this year, making it GM's third biggest after the United States and Brazil.

GM, which is the No.3 automaker in South Korea after Hyundai Motor Co (>> Hyundai Motor Co) and its affiliate Kia Motors Corp (>> Kia Motors Corporation), aims to nearly double its South Korean market share to 20 percent for the mid- and long-term.

(Reporting by Hyunjoo Jin; Editing by Edwina Gibbs)

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on GENERAL MOTORS COMPANY
08:43p GENERAL MOTORS : Al Wefaq Rent A Car contest ‘successful’
07/29 FIAT CHRYSLER AUTOMOBILES NV : U.S. extends oversight of Fiat Chrysler safety pr..
07/29 FIAT CHRYSLER AUTOMOBILES NV : U.S. extends oversight of Fiat Chrysler safety pr..
07/29 JULY U.S. AUTO SALES UP 2.4 PERCENT, : forecasters
07/29 Daimler to invest 1 billion euros in Hungarian plant
07/29 Ford calls an end to U.S. auto boom, rivals bet other way
07/28 GENERAL MOTORS : Researchers from General Motors Describe Findings in Impact Eng..
07/28DJBrexit Could Crimp Auto Makers' Fresh Europe Recoveries
07/28 GENERAL MOTORS : Students take hands on tour of GM
07/28 GENERAL MOTORS : 2017 Cruze production to begin Friday
More news
Sector news : Auto & Truck Manufacturers - NEC
01:16a TESLA MOTORS : mulling two theories to explain 'Autopilot' crash - source
07/29DJFORD MOTOR : Financials Flat After European Bank Earnings - Financials Roundup
07/29 FIAT CHRYSLER AUTOMOBILES NV : U.S. extends oversight of Fiat Chrysler safety pr..
07/29 FIAT CHRYSLER AUTOMOBILES NV : U.S. extends oversight of Fiat Chrysler safety pr..
07/29 JULY U.S. AUTO SALES UP 2.4 PERCENT, : forecasters
More sector news : Auto & Truck Manufacturers - NEC
News from SeekingAlpha
07/29 HDLV : Verizon's Gone... What's Going On?
07/29 GM : No Respect
07/29 AUTONATION : Do Automobile Sales And Margins Really Matter?
07/29 WALL STREET BREAKFAST : U.S. GDP Takes Center Stage
07/28 The Latest News In The World Of Electric Vehicles And Energy Storage
Advertisement
Financials ($)
Sales 2016 158 848 M
EBIT 2016 11 547 M
Net income 2016 9 220 M
Finance 2016 6 579 M
Yield 2016 4,71%
P/E ratio 2016 5,64
P/E ratio 2017 5,44
EV / Sales 2016 0,27x
EV / Sales 2017 0,27x
Capitalization 49 263 M
More Financials
Chart GENERAL MOTORS COMPANY
Duration : Period :
General Motors Company Technical Analysis Chart | GM | US37045V1008 | 4-Traders
Full-screen chart
Technical analysis trends GENERAL MOTORS CO...
Short TermMid-TermLong Term
TrendsBullishNeutralNeutral
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 18
Average target price 36,5 $
Spread / Average Target 16%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
Mary Teresa Barra Chairman & Chief Executive Officer
Daniel Ammann President
Charles K. Stevens Chief Financial Officer & Executive Vice President
Randall D. Mott Chief Information Officer & Senior Vice President
Kathryn V. Marinello Independent Director
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
GENERAL MOTORS COMPANY-7.26%49 263
TOYOTA MOTOR CORP-20.35%192 708
VOLKSWAGEN AG-6.73%72 732
DAIMLER AG-22.26%72 713
BAYERISCHE MOTOREN WER..-21.08%55 803
HONDA MOTOR CO LTD-25.63%50 417
More Results