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Found 31 results

  1. General Motors' troubled brand, Opel announced some major changes this past week. For starters, the company announced that it would be pulling out of China in January of 2015. The German marque said poor sales was the major reason as to the brand's departure. In 2013, Opel only sold 4,365 vehicles through twenty-two dealers. That pales in comparison to Buick which moved 810,000 vehicles through 650 dealers. "This is a long overdue decision. It would have cost hundreds of millions of euros to raise awareness of the Opel brand and to expand the distribution network. Buick, however, is one of the market leaders in China and we plan to intensify our future collaboration, with several projects currently under examination," said Opel CEO Karl-Thomas Neumann. More intriguing is the announcement for Opel's Ruesselsheim, Germany plant. The automaker announced a €245 million ($337 million) investment into the plant for a new model that will be announced later this year. Opel announced that Ruesselsheim would be home of a future model that will be sold in the U.S. as a Buick. This bit of news furthers the plans of intertwining Buick and Opel. What could this new model be? We been hearing rumors that it could be the Adam or Cascada convertible. We'll keep you updated. Source: Opel William Maley is a staff writer for Cheers & Gears. He can be reached at william.maley@cheersandgears.comor you can follow him on twitter at @realmudmonster. Press Release is on Page 2 Opel Invests 245 Million Euros in Ruesselsheim Investment for additional vehicle for main German plant at end of decade Additional production of a Buick model for North America Change of export strategy for Chinese market Ruesselsheim. On top of four Insignia variants and the Zafira Tourer, which will be produced as of January 2015, the Ruesselsheim plant will get two additional vehicles later in the decade. This was decided by the Opel Supervisory Board at its meeting this week. A significant investment of 245 million euros will be made to build an additional model. Due to competitive reasons, details about this car will not be announced until the end of the year. The Supervisory Board also gave the green light for the future production of an additional variant of the Insignia. The Ruesselsheim plant has been chosen for the assembly of a future model which will be sold in the US under the Buick brand name. Start of production will also be in the second half of the decade. "With the investment in a new, additional model for Ruesselsheim, we will take another important step in our multi-billion dollar model offensive with which we will pave the way for Opel’s profitable growth,” said GM President and Opel Supervisory Board Chairman Dan Ammann. "And the Buick production in Ruesselsheim will further improve our capacity utilization," added Opel CEO Dr. Karl-Thomas Neumann. ”The decisions of the Supervisory Board for the production of a Buick and for the investment in an additional model for the Rüsselsheim plant are based on the recently concluded collective agreement. They are part of our extended growth strategy and are further evidence of GM’s confidence in Opel," said Dr. Wolfgang Schäfer-Klug, Head of the Opel Works Council and Deputy Chairman of the Supervisory Board. In addition, Opel has decided to change the export strategy for the Chinese market. As of January 2015, sales of the Opel brand in China will cease. "This is a long overdue decision,” said Dr. Karl-Thomas Neumann. “It would have cost hundreds of millions of euros to raise awareness of the Opel brand and to expand the distribution network. Buick, however, is one of the market leaders in China and we plan to intensify our future collaboration, with several projects currently under examination." Last year, 22 Opel dealers in China sold a total of 4,365 vehicles. In comparison, Buick – with 650 dealers – sold about 810,000 vehicles in China, including several that were co-developed with Opel. Globally, Buick set an all-time global sales record last year, delivering 1.032 million vehicles worldwide. Buick was GM’s third largest passenger car brand after Chevrolet (4.984 million units) and Opel/Vauxhall (1.064 million units). View full article
  2. By William Maley Staff Writer - CheersandGears.com April 11, 2013 Yesterday, General Motors announced a $5.2 billion investment for Opel between now and 2016. This is part of a larger effort to nurture Opel back into health. “As a global automotive company, GM needs a strong presence in Europe – both in design and development as in manufacturing and sales. Opel is key to our success and enjoys the full support of its parent company,” said General Motors CEO Dan Akerson in a statement. This investment will will help support new models and help the brand back on track for its 10-year plan, called DRIVE! 2022, which hopes to bring it back into the black. Opel needs all the help it can get. The brand saw $1.8 billion last year, continuing a streak of losses that goes back to 1999. Source: General Motors, Automotive News (Subscription Required) William Maley is a staff writer for Cheers & Gears. He can be reached at william.maley@cheersandgears.comor you can follow him on twitter at @realmudmonster. Press Release is on Page 2 GM to Invest 4 Billion Euros in Opel's Future through 2016 GM Board of Directors makes clear commitment to Opel GM CEO Dan Akerson: "Opel has GM's full support" Confirmation of "DRIVE!2022" plan for future Piece of Berlin Wall as symbol of solidarity Rüsselsheim. The General Motors (GM) Board of Directors used its meeting in Rüsselsheim to underscore its commitment to Opel and Germany. This commitment was also manifested in the approval of a comprehensive investment program: GM will invest 4 billion euros in Germany and Europe through 2016. "As a global automotive company GM needs a strong presence in Europe – in terms of design and development as well as manufacturing and sales," said Dan Akerson, Chairman and CEO of GM, at a press briefing at Adam Opel Haus. "Opel is a key to our success and enjoys its parent company's full support." The Board of Directors chose Germany for a regularly scheduled meeting to get first-hand information on the progress on its 10-year strategy DRIVE!2022 and the challenging European automotive environment. The Board also used this opportunity to meet with economists, unionists and politicians. In addition to Akerson, Opel CEO Dr. Karl-Thomas Neumann, Supervisory Board Chairman Steve Girsky and Works Council Chairman Dr. Wolfgang Schäfer-Klug also spoke at today's press conference in Rüsselsheim. The Board of Directors welcomed the guests of honor Minister President of Hesse Volker Bouffier, the American Ambassador Phil Murphy as well as Rüsselsheim Mayor Patrick Burghardt, who brought the city's Guest Book for the visitors to sign. Dr. Karl-Thomas Neumann, CEO of Adam Opel AG, emphasized that it is a great honor for Opel to be able to host the GM Board: "This Board has once again made very clear that our 10-year plan DRIVE!2022, that foresees our return to profitability by the middle of the decade, has our parent company's complete support." A large part of the investments are going into the Opel model offensive. Through 2016, Opel will introduce 23 new models and 13 new powertrains. Opel Supervisory Board Chairman Steve Girsky said, "The Board of Directors is here to underline its solidarity and support. Opel has been part of GM since 1929 and is today more than ever a decisive element for the entire company's innovative power. This partnership is stronger than it has ever been." Following the press briefing Dan Akerson revealed a piece of the Berlin Wall that belongs to Opel and will be placed in front of the Adam Opel Haus on Friedrich-Lutzmann-Ring. "This piece of the wall is a symbol of our corporate culture," said CEO Dr. Karl-Thomas Neumann. "The symbol should remind everyone that we overcome any walls in our heads and those between different cultures and that we are now starting a new chapter in the history of Opel."
  3. By William Maley Staff Writer - CheersandGears.com April 11, 2013 Yesterday, General Motors announced a $5.2 billion investment for Opel between now and 2016. This is part of a larger effort to nurture Opel back into health. “As a global automotive company, GM needs a strong presence in Europe – both in design and development as in manufacturing and sales. Opel is key to our success and enjoys the full support of its parent company,” said General Motors CEO Dan Akerson in a statement. This investment will will help support new models and help the brand back on track for its 10-year plan, called DRIVE! 2022, which hopes to bring it back into the black. Opel needs all the help it can get. The brand saw $1.8 billion last year, continuing a streak of losses that goes back to 1999. Source: General Motors, Automotive News (Subscription Required) William Maley is a staff writer for Cheers & Gears. He can be reached at william.maley@cheersandgears.comor you can follow him on twitter at @realmudmonster. Press Release is on Page 2 GM to Invest 4 Billion Euros in Opel's Future through 2016 GM Board of Directors makes clear commitment to Opel GM CEO Dan Akerson: "Opel has GM's full support" Confirmation of "DRIVE!2022" plan for future Piece of Berlin Wall as symbol of solidarity Rüsselsheim. The General Motors (GM) Board of Directors used its meeting in Rüsselsheim to underscore its commitment to Opel and Germany. This commitment was also manifested in the approval of a comprehensive investment program: GM will invest 4 billion euros in Germany and Europe through 2016. "As a global automotive company GM needs a strong presence in Europe – in terms of design and development as well as manufacturing and sales," said Dan Akerson, Chairman and CEO of GM, at a press briefing at Adam Opel Haus. "Opel is a key to our success and enjoys its parent company's full support." The Board of Directors chose Germany for a regularly scheduled meeting to get first-hand information on the progress on its 10-year strategy DRIVE!2022 and the challenging European automotive environment. The Board also used this opportunity to meet with economists, unionists and politicians. In addition to Akerson, Opel CEO Dr. Karl-Thomas Neumann, Supervisory Board Chairman Steve Girsky and Works Council Chairman Dr. Wolfgang Schäfer-Klug also spoke at today's press conference in Rüsselsheim. The Board of Directors welcomed the guests of honor Minister President of Hesse Volker Bouffier, the American Ambassador Phil Murphy as well as Rüsselsheim Mayor Patrick Burghardt, who brought the city's Guest Book for the visitors to sign. Dr. Karl-Thomas Neumann, CEO of Adam Opel AG, emphasized that it is a great honor for Opel to be able to host the GM Board: "This Board has once again made very clear that our 10-year plan DRIVE!2022, that foresees our return to profitability by the middle of the decade, has our parent company's complete support." A large part of the investments are going into the Opel model offensive. Through 2016, Opel will introduce 23 new models and 13 new powertrains. Opel Supervisory Board Chairman Steve Girsky said, "The Board of Directors is here to underline its solidarity and support. Opel has been part of GM since 1929 and is today more than ever a decisive element for the entire company's innovative power. This partnership is stronger than it has ever been." Following the press briefing Dan Akerson revealed a piece of the Berlin Wall that belongs to Opel and will be placed in front of the Adam Opel Haus on Friedrich-Lutzmann-Ring. "This piece of the wall is a symbol of our corporate culture," said CEO Dr. Karl-Thomas Neumann. "The symbol should remind everyone that we overcome any walls in our heads and those between different cultures and that we are now starting a new chapter in the history of Opel." View full article
  4. By William Maley Staff Writer - CheersandGears.com January 21, 2013 Last month, Fisker founder and Chairman Henrik Fisker said the company was looking for "potential strategic partners". The search has led the company to China. According to Reuters, Fisker is in talks with certain Chinese automakers. Fisker's focus on China is due to the Chinese government's backing of local manufacturers in their efforts to acquire "green car" technology from abroad, as the government is trying to ramp up demand for electric cars and plug-in hybrids before the end of the decade. Sources tell Reuters that Fisker has talked with China Grand Automotive Services Co, a large dealership group that has an agreement to distribute Fisker cars in China. Fisker has also talked with the Wanxiang Group, a Chinese supplier that had the winning bid for A123 Systems. Sources say Fisker has also established contacts with a few other Chinese automakers and are expected to talk with them within the next few weeks. "Fisker is in advanced talks with a number of potential strategic partners. We expect some exciting developments in the next few months," said Fisker spokesman Roger Ormisher in a email. Source: Reuters William Maley is a staff writer for Cheers & Gears. He can be reached at william.maley@cheersandgears.com or you can follow him on twitter at @realmudmonster. View full article
  5. By William Maley Staff Writer - CheersandGears.com January 21, 2013 Last month, Fisker founder and Chairman Henrik Fisker said the company was looking for "potential strategic partners". The search has led the company to China. According to Reuters, Fisker is in talks with certain Chinese automakers. Fisker's focus on China is due to the Chinese government's backing of local manufacturers in their efforts to acquire "green car" technology from abroad, as the government is trying to ramp up demand for electric cars and plug-in hybrids before the end of the decade. Sources tell Reuters that Fisker has talked with China Grand Automotive Services Co, a large dealership group that has an agreement to distribute Fisker cars in China. Fisker has also talked with the Wanxiang Group, a Chinese supplier that had the winning bid for A123 Systems. Sources say Fisker has also established contacts with a few other Chinese automakers and are expected to talk with them within the next few weeks. "Fisker is in advanced talks with a number of potential strategic partners. We expect some exciting developments in the next few months," said Fisker spokesman Roger Ormisher in a email. Source: Reuters William Maley is a staff writer for Cheers & Gears. He can be reached at william.maley@cheersandgears.com or you can follow him on twitter at @realmudmonster.
  6. General Motors Announces $275 Million Investment For Truck Plant William Maley - Editor/Reporter - CheersandGears.com October 27, 2011 General Motors announced yesterday they will invest $275 million for their Fort Wayne, Indiana to build the next generation Chevrolet Silverado and GMC Sierra trucks. GM says the investment will create or retain 150 jobs on top of the 3,400 workers who currently build trucks at the plant. “This investment will allow us to continue building award-winning pickups that offer better fuel efficiency than ever before without sacrificing features and functionality. We remain committed to providing customers the utility and capability of our world-class full-size pickups,” said Larry Zahner, GM manufacturing manager, in a statement. Press Release is below GM Invests $275 Million in Ft. Wayne Assembly Plant Supports next-generation full-size pickups and creates or retains 150 jobs 2011-10-26 - FT. WAYNE, Ind. – General Motors will invest approximately $275 million to prepare its plant here to build the next generation of Chevrolet and GMC full-size pickup trucks, creating or retaining 150 jobs. The plant, which currently has 3,400 employees on three shifts, builds the Chevrolet Silverado and GMC Sierra full-size pickups. The investment announced today is the last announcement of the $2 billion GM announced in May 2011 that will create or retain about 4,000 jobs in 17 facilities in eight states over the next 18 months. “This investment will allow us to continue building award-winning pickups that offer better fuel efficiency than ever before without sacrificing features and functionality,” said Larry Zahner, GM manufacturing manager. “We remain committed to providing customers the utility and capability of our world-class full-size pickups.” September was a very good month for GM’s full-size pickup trucks. GMC Sierra sales were up 26 percent and Chevrolet Silverado sales were up 36 percent. Sales of GM full-size pickups have increased month over month since July, contributing to a year-to-date market share gain of about one full point. “Today’s announcement is great news for the hard-working members of UAW Local 2209,” said Joe Ashton, UAW vice president, representing the GM Department. “Our members’ experience and knowledge will ensure that this next generation of trucks will exceed the expectations of our customers. This is an important vehicle program for GM and the decision to locate the work in Fort Wayne demonstrates our mutual commitment to making GM a great American company.”

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