Inside these posts: GM

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Ally, former GM finance arm, files for IPO

Ally Financial filed Thursday for an initial public offering that will allow the U.S. government to sell down its majority stake in the bailed-out auto and mortgage lender. Get the full story »

GM to sell preferred shares of Ally for $1B

General Motors Co. says it will sell all of its shares of a certain type in Ally Financial Inc., its former finance arm, for $1 billion. The shares to be sold represent all of Ally’s Series A preferred stock outstanding, the automaker said Tuesday. Get the full story »

GM up after high marks from Wall Street

General Motors shares rose as much as 2.5 percent in midday trading on Tuesday after banks resumed coverage of the automaker with high marks for its North American sales and position in emerging markets.

The positive ratings by Wall Street come just six weeks after GM returned to the New York Stock Exchange in the largest initial public offering in history — about $23.1 billion. Its high was $35.99, reached on its first day of trading November 18. Get the full story »

U.S. auto market picks up speed in November

Though still far from robust, the U.S. auto market continued its slow recovery in November as consumers headed for showrooms, enticed by heavy month-end advertising.

General Motors Co. the first of the major automakers to report Wednesday, said that November sales rose 21% from a year earlier, to 168,704 vehicles, after factoring out the Pontiac, Hummer, Saturn and Saab brands it closed or sold as part of its bankruptcy reorganization last year.

Through the first 10 months of this year — prior to the reports of November sales — the industry has been averaging about an 11% gain. Get the full story »

GM touts China growth in IPO sales pitch

General Motors Co.’s strength in China and its global growth potential are the focus of the automaker’s sales pitch as it shops for investors ahead of its initial public offering this month. Get the full story »

GM readies IPO filing, in auto loan talks

General Motors Co is planning to file a statement outlining its plan for a public offering of its stock in July for a listing that could raise up to $20 billion, a person with knowledge of the preparations said Wednesday.

In addition, GM is in talks with JPMorgan Chase and Wells Fargo on deals aimed at providing improved access to consumers for auto loans at its U.S. dealerships, two people with knowledge of those talks said. Get the full story »

GM recalls 1.5 million vehicles on fire risk

Reuters | General Motors Co. announced a recall of about 1.5 million trucks, crossovers and cars from model years 2006-2009 on Tuesday, because the unit that heats the windshield washer fluid could catch fire.

Jeff Boyer, GM director for safety, said the supplier who made the module that heats the washer fluid has stopped manufacturing, leaving no chance to design an improved unit.

Get the full story »

GM: No Hummer deal with China

Associated Press | GM has announced that Hummer will not be acquired by Chinese buyer Sichuan Tengzhong Heavy Industrial Machines Co. “We are disappointed that the deal with Tengzhong could not be completed,” said John Smith, GM’s vice president of corporate planning and alliances. “GM will now work closely with Hummer employees, dealers and suppliers to wind down the business in an orderly and responsible manner.”