Boston, MA 12/13/2013 (wallstreetpr) – General Motors Company (NYSE:GM) has ensured that the people at the helm of affairs are insiders. This time their Chief Executive Officer Mary Barra, with over three decades and more of service stands for all things GM, having passed out the Kettering, General Motors Institute, roughly four decades ago. She has held numerous posts in the company for over thirty three years now, be it engineering of product development for global audience.
And events are already aligned for a successful GM future for across its global units there are a host of happenings which indicate the same.
First, in China, GM achieves massive milestone.
China sales surpass 3 million
Ever since General Motors Company (NYSE:GM) has begun sale of its vehicles in China, the going has been good. Now it has gone to great this year, with General Motors recording 3 million vehicle sale. This will be a first for the elite car company and has been largely successful through various dealerships with local Chinese auto dealers and car makers. China’s market share for General Motors has definitely sizeable this year.
Off-loads Peugot stake
In yet another move expected to trim General Motors Company (NYSE:GM) overhangs and make room for great manoeuvrability is the off-loading of its stake in the uncommon collaboration with Peugeot in Europe. The stake was in the region of 7 per cent.
It is uncommon for General Motors, to choose joint ventures with other automakers; however, the deal with Peugeot was to work on a light vehicle for commercial purposes, which was to be larger than a typical SUV for carrying passengers.
In the meanwhile, it has chosen to offload shares it holds in another venture, Ally Financial. In this case, General Motors, will be exiting nearly 8.5% stake or $900 million, and at the end of the sale stand to gain $500million.