Tagged: general motors

A New York Times analysis casts doubt on the effectiveness of all those tax breaks Michigan cities have been giving to corporations in return for new jobs - or just to keep them from leaving town.

The story prominently features tax breaks given to General Motors, before the automaker filed for bankruptcy.

In the end, the money that towns across America gave General Motors did not matter.....

China continues to be the world’s largest automotive market.

However, Chinese car manufacturers are still several years away from putting their products in the U.S. market, according to Michael Dunne.

Dunne is the president of Dunne and Company, a strategic marketing group helping auto companies expand in Asia.

Dunne addressed the status of China’s car industry, citing economic tensions with Japan.

GM, Ford, and Chrysler all say November sales were the best they've seen in a long time.

More from the Detroit News:

General Motors Co. said Monday it had its best November sales month since 2007, as its 186,505 sales rose 3.4 percent over the same month in 2011...

Ford Motor Co. posted November sales of 177,673, an increase 6 percent, with retail sales jumping 12 percent...

Chrysler Group LLC earlier reported its best November sales since 2007, as it sold 122,565 vehicles in the month, up 14.4 percent from the same month in 2011.

Michigan Radio's Tracy Samilton will have more for us on these numbers later today.

GM shares were up Wednesday on the back of a stronger-than-expected third-quarter earnings report.

The automaker reported a net income of $1.48 billion, down just 14.5 percent from last year despite major losses in Europe.

As a result, GM stock had increased by 9.66 percent to $25.53 a share by 2:20 p.m.

Melissa Burden with the Detroit News has more:

Both Ford and General Motors announced steps this week to reduce their losses in Europe.

The region is experiencing a disabling recession that's expected to last at least through 2015.

Car sales are abysmal in Europe, down more than 30-percent from normal demand.

Ford says it may lose a total of one billion dollars in the region for the entire year.

General Motors' losses might be more than that.

General Motors says it will close its hydrogen fuel-cell research operation near Rochester, N.Y., and move it to Michigan, along with most of the 220 salaried jobs currently in New York.

The company says most of the 220 salaried workers in Honeoye Falls, N.Y., will be offered the chance to move to GM's engine and transmission research unit in Pontiac.

Spokeswoman Kimberly Carpenter says the move will pull together all of its experts on ways to move vehicles. The company will save some money by not renewing a building lease in New York.

She says GM will continue to focus on electric vehicles and fuel cell development. GM has been testing fuel-cell vehicles that run on hydrogen with no harmful emissions.

General Motors says its U.S. sales rose about one and a half percent last month, as a big jump in car sales was offset by falling truck sales.

Ford says its U.S. sales were flat in September, like GM, Ford was weighed down by lower truck sales even as sales of its cars rose.

But Chrysler had the best September of the Detroit Three, with a 12 percent increase in sales.

More from the Detroit News: