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Inside this issue
Treasury Announces GM Exit Strategy; Automaker Buying 200 Million Shares From U.S.
Toyota to Maintain Global Production at 9.9 Million Vehicles, Report Says
December Data Shows Luxury Models Losing Market Traction
General Motors Names New Purchasing Chief
The World's Most Popular Cars: A New Champ
$10 Million From Ford Fund to Bring More Arts, Recreation, Job Training to Southwest Detroit
Click here for more auto industry news at NADAFrontPage.com. .
Top Stories
Treasury Announces GM Exit Strategy; Automaker Buying 200 Million Shares From U.S.

The Obama administration said Wednesday it will sell 40 percent of its remaining stake in General Motors Co. back to the automaker — and said it plans to completely exit the Detroit automaker by March 2014. The Detroit automaker said it will purchase 200 million shares of GM stock held by Treasury for $5.5 billion — or $27.50 per share — nearly $2 above the stock's closing price on Tuesday.
Source: The Detroit News

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Toyota to Maintain Global Production at 9.9 Million Vehicles, Report Says

Toyota Motor Corp will keep its global output target for 2013 nearly unchanged from this year at 9.9 million vehicles despite a production cut at home, the Nikkei reported. The leading Japanese automaker aims to produce 5.6 million Toyota and Lexus brands outside Japan next year, up more than 6 percent from its 2012 target, the business daily said [Tuesday].
Source: Reuters

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December Data Shows Luxury Models Losing Market Traction

Activity at Swapalease.com and findings from a recent GfK Automotive study showed that the appeal of luxury models isn't carrying the same weight as it did in the past. Where are consumers migrating if they're not leasing a luxury model? At Swaplease this month, they're moving toward assumptions of smaller and eco-friendly vehicles.
Source: Auto Remarketing

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General Motors Names New Purchasing Chief

General Motors on Tuesday named a new top purchasing official — a key job for the automaker that is one of the largest buyers of steel, rubber and auto parts in the world. GM said it had named Grace Lieblein as vice president, Global Purchasing and Supply Chain, effective immediately. She will oversee GM's purchasing activities and supply chain and logistics operations worldwide. In the United States alone, GM purchases $78 billion annually from suppliers.
Source: The Detroit News

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The World's Most Popular Cars: A New Champ

The Ford Focus isn't the best-selling car in America; it's not even in the Top 10. But around the world, especially in fast-growing markets in Asia, the sporty compact is growing in popularity, so much so that it is about to knock off the venerable Toyota Corolla as the world's most popular car.
Source: Forbes

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$10 Million From Ford Fund to Bring More Arts, Recreation, Job Training to Southwest Detroit

The Ford Motor Co. Fund pledged $10 million Tuesday to provide arts and cultural activities, education, job training and youth recreation to southwest Detroiters in an effort the company said it's looking to replicate in other cities. The community-relations arm of the Dearborn-based automaker said it will invest $10 million in Operation Brighter Future-Detroit, creating the Ford Resource and Engagement Center .... The partnership brings together a brand synonymous with Detroit and Mayor Dave Bing's efforts to encourage growth and focus city resources on promising areas of the city, drawing back from neglected and blighted neighborhoods.
Source: Detroit Free Press

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Quotable
"It's part of our DNA as a company."

   
-- Mark Fields, Ford's chief operating officer, commenting on the automaker's $10 million donation to bring more arts, recreation and job training to Detroit, Detroit Free Press, Dec. 19



 


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