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

Delayed Quote. Delayed  - 09/26 10:00:10 pm
31.8 USD   -1.00%
09/26 SEPTEMBER U.S. : JD Power-LMC
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General Motors Company : GMC and Chevrolet Bi-Fuel Pickup Production Begins

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11/08/2012 | 04:09pm CEST
GMC and Chevrolet Bi-Fuel Pickup Production Begins

2012-11-08

DETROIT - Production of the 2013 Chevrolet Silverado HD and GMC Sierra 2500 HD bi-fuel pickup trucks is underway in Fort Wayne, Ind., and the pickups are available for order by fleet and retail customers through Chevrolet and GMC dealers.

The Silverado HD and Sierra 2500 HD Vortec 6.0L V8 engine runs on gasoline or compressed natural gas (CNG) and seamlessly switches between the two fuels without affecting performance. The CNG and gasoline tanks have a combined range of 650 miles, the longest standard bi-fuel range of any original equipment automaker.

"Customers are choosing our bi-fuel trucks because they provide the same high level of GM truck performance and versatility but can also help businesses control their fuel costs and reduce their carbon footprint," said Ed Peper, General Motors U.S. vice president of Fleet and Commercial Sales.

The Type-3 single-tank CNG system in the Silverado HD and Sierra 2500 HD is designed to retain more bed space than any competing bi-fuel truck from an Original Equipment Manufacturer. The pickups are available in standard and long-box and two-or-four wheel drive in the extended cab models.  

"At Chesapeake, we are converting our fleet of more than 5,000 vehicles to run on natural gas, and having options from GMC and Chevy is critical to help us reach our conversion goal," said Nate Pumphrey, Chesapeake Energy Corp. director of Fleet Operations. "Following our full conversion, we will save $11 million to $12 million annually on fuel costs.

"As a fleet manager, the stable price of natural gas is another major benefit that helps me budget more accurately, and the fuel's reduced emissions align with Chesapeake's commitment to environmental excellence," he said.

The bi-fuel pickups are ordered from the factory, sent to the Tier One supplier IMPCO for installation of the CNG bi-fuel delivery and storage system and then delivered by GM transportation to the dealer or to an upfitter for customer-ordered modifications.

The bi-fuel option is priced at $11,000 above the suggested retail price of the base vehicle. The entire gaseous fuel system meets GM's strict quality, durability and safety testing. The trucks will be covered by GM's three-year, 36,000-mile new vehicle limited warranty and five-year, 100,000-mile limited powertrain warranty and vehicle emissions warranty.  The vehicle meets all Environmental Protection Agency (EPA) and California Air Resources Board (CARB) emission certification requirements.

To find more information about advanced propulsion vehicles available, visit gmfleet.com, or for timely responses to fleet-related questions, join the GM Fleet and Commercial Customer Service LinkedIn group.

General Motors Co. (NYSE:GM, TSX: GMM) and its partners produce vehicles in 30 countries, and the company has leadership positions in the world's largest and fastest-growing automotive markets.  GM's brands include Chevrolet and Cadillac, as well as Baojun, Buick, GMC, Holden, Isuzu, Jiefang, Opel, Vauxhall and Wuling. More information on the company and its subsidiaries, including OnStar, a global leader in vehicle safety, security and information services, can be found at http://www.gm.com.

###

Emily Moran
Mullen
517-483-3800
emily.moran@mullen.com

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Financials ($)
Sales 2016 158 768 M
EBIT 2016 11 457 M
Net income 2016 9 078 M
Finance 2016 6 040 M
Yield 2016 4,69%
P/E ratio 2016 5,68
P/E ratio 2017 5,61
EV / Sales 2016 0,27x
EV / Sales 2017 0,27x
Capitalization 49 669 M
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Number of Analysts 20
Average target price 36,7 $
Spread / Average Target 15%
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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
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