Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Graham and Doddsville -- Value Investing In The New Era -- Ignore unavailable to you. Want to Upgrade?

To: porcupine --''''> who wrote (1581)	4/20/1999 1:58:00 PM
From: porcupine --''''>	Read Replies (1) \| Respond to of 1722

GM boosts second-quarter vehicle production by 15,000 WARREN, Mich., April 8 (Reuters) - General Motors Corp. said on Thursday that it will boost its second-quarter North American output of vehicles by 15,000 units, to 1,512,000. In the second quarter last year, the world's largest automaker made 1,172,000 cars and light trucks at assembly plants in the United States, Canada and Mexico. GM said the increase reflected higher demand for its cars and light trucks as demonstrated by the 5.9 percent rise in first-quarter sales. Of the increased production, 9,000 will be light trucks -- pickup trucks, sport utility vehicles and minivans -- and 6,000 passenger cars, GM said. Most of the increase -- 10,000 vehicles -- will be handled at plants in the United States. GM also said output will be raised by 2,000 vehicles to 23,000 at its joint venture plant in Ingersoll, Ontario. The automaker shares production at that plant with Japanese automaker Suzuki Motor Corp. <7269.T> GM made 1,506,000 vehicles in the first quarter, up 131,000 from the same period last year. In March, it made 555,000 cars and light trucks, up 35,000 from last year. Ford Motor Co. on Tuesday raised its second-quarter output in North America by 20,000 light trucks and 10,000 cars. The No. 2 U.S. automaker now projects production in the quarter will be 1,242,000, up 4 percent from last year. ((--Detroit Newsroom, 313-870-0200))

To: porcupine --''''> who wrote (1581)	4/20/1999 2:02:00 PM
From: porcupine --''''>	Respond to of 1722

GM sees 20,000 Shanghai Buick sales in 1999 BEIJING, April 8 (Reuters) - General Motors Corp (GM) expects to meet its 1999 sales forecast of 20,000 vehicles for three Buick sedan models produced at its Shanghai joint venture, a GM executive said on Thursday. "Our sales will be slightly less than 20,000 vehicles. We have maintained that forecast over quite some period of time and we believe that we will quite easily be able to meet that," said Phillip Murtaugh, executive vice president of Shanghai GM. He told a news conference in Beijing that GM Shanghai had already received orders for 4,500 vehicles, many backed by deposit, adding the response showed "high demand and high interest" in the cars. Murtaugh said the cars would be priced from 318,000 to 369,000 yuan ($38,400-$44,600), including value-added tax, consumption tax and delivery charges. The prices included nine optional configurations in five colours. The models, all engineered for the Chinese market, were Buick GL, Buick GLX and Buick Xin Shi Ji. Shanghai GM, a joint venture with the Shanghai Automotive Industry Corp (SAIC), will begin regular production on Monday and vehicles will be available in quantity by mid-summer, he said. Prices for the venture's Buicks are far above the 110,000 to 160,000 yuan price tag for Santana model cars produced by SAIC with Germany's Volkswagen , industry analysts have said. Sun Xiaodong, GM Shanghai's director of marketing and distribution, said the firm expected 40 percent of its vehicles would be sold to foreign joint ventures, 30 percent to private businesses, 20 percent to government offices and 10 percent to individuals. GM Shanghai has set up a "one-tier" distribution system under which it authorises retailers to sell direct to customers, cutting out costs associated with China's traditional multi-layer distribution arrangements, Murtaugh said. The firm had already authorised nine retailers and 18 after-sales service centres in the cities of Beijing, Shanghai, Guangzhou, Shenzhen and Shantou, he said. Production volume will eventually reach 100,000 vehicles a year, a GM statement said. ($1.0 = 8.28 yuan) ((Beijing Newsroom: +86-10-6532-1921; Fax +86-10-6532-4978; beijing.newsroom@reuters.com))

To: porcupine --''''> who wrote (1581)	4/20/1999 2:04:00 PM
From: porcupine --''''>	Respond to of 1722

GM, Ford Q1 results seen up thanks to strong N.America By Ben Klayman DETROIT, April 9 (Reuters) - General Motors Corp.'s and Ford Motor Co.'s first-quarter operating earnings should rise 17 percent and 11 percent, respectively, thanks to strong North American sales, auto analysts said on Friday. GM, the world's largest automaker, is expected to earn $1.88 billion, or $2.86 a diluted share, compared to $1.6 billion, or $2.27 a share, in the same period last year, according to First Call, which tracks analysts' estimates. The automaker has not announced any one-time charges or gains for the quarter, and did not report any last year. Both automakers will report results on April 15. Ford, the world's second-largest automaker, is expected to report $1.68 billion, or $1.39 a diluted share, compared to $1.51 billion, or $1.22 a share, last year, excluding the results from a divested financial services subsidiary. This year, Ford will report a one-time gain of $165 million after taxes for the sale of its share in a Portugal joint venture with Germany's Volkswagen AG . In the first quarter last year, Ford had a one-time noncash gain of $15.9 billion related to the spinoff of The Associates, as well as $177 million in earnings from the subsidiary. J.P. Morgan & Co. analyst David Bradley said GM and Ford's results should be strong thanks to a buoyant North American market that set a first-quarter U.S. sales record. He expects GM to earn $2.85 a share -- although $3.25 is not out of range -- and Ford to earn $1.45 a share with a higher upside possible. "These companies have proportionately so much greater exposure to North America than they do to these foreign markets that they'll probably come out better than expected in spite of potential overseas problems," he said, pointing to expected weaker results in Latin America and Europe. While GM is struggling on the product side with shrinking market share, it has been effective in cutting warranty and material costs, Sanford Bernstein analyst Gary Lapidus said. He expects GM to earn $3.05 a share with $3.10 possible, and Ford to earn $1.45 a share. Burnham Securities analyst David Healy expects GM to earn $2.71 a share, lower than other analysts' estimates partly because GM's North American incentives rose 34 percent to $1,561 per vehicle from the fourth quarter last year. He expects Ford to earn $1.59 a share thanks to strong sales of its heavy-duty full-size pickup trucks, which were not available in the first quarter last year. U.S.-German automaker DaimlerChrysler AG will report first-quarter results on April 28. Sanford Bernstein's Lapidus expects it to earn $1.94 a share, although accounting changes may force that number lower. ((--Detroit Newsroom, 313-870-0200))