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Shares of car parts supply retailer, AutoZone (AZO), are trading at a 52 week high at $158.00. The company has a market cap of $8.7 billion. GM's market cap is only a little over $1 billion, even though its revenues are 25 times greater than AutoZone...
...year low last year, with little sign of picking up in 2009. Toyota announced on March 11 that 4,500 workers at its British factories would see their pay and hours slashed 10% for a year starting in April. The German and British governments are still in talks with GM over potential aid for the U.S. automaker's beleaguered European subsidiaries, Opel in Germany and Vauxhall in the U.K. GM says it needs some $4.2 billion to save its businesses in the region. (See pictures of workers at GM...
...Massive bailouts like those being considered for GM and Chrysler in the U.S. aren't currently on the cards for most European and Asian carmakers, which don't face the kind of long-term structural problems dogging Detroit. Instead, policymakers in countries with substantial automotive industries are rolling out programs to ease the short, sharp shock of plunging sales by giving consumers incentives to start buying again. In January, China slashed its sales tax on cars with engines of up to 1.6 liters. The measure, designed to get Chinese to buy smaller, more fuel-efficient vehicles, had an immediate impact...
...longer an option even with car prices and incentives as attractive as they have ever been. The American consumer is frankly too terrified to take on a monthly payment that could be in the hundreds of dollars to buy or lease a new car. (See pictures of workers at GM...
...trade" initiative, which is designed to curb both the use of energy and greenhouse-gas emissions across the entire economy. For carmakers, such legislation would be mostly neutral because they earn credit for making electric vehicles and could spend it on cars that emit too much CO2. GM now notes that one-third of the Cadillac Escalades it sell are hybrids, so it would have plenty of currency. Of course, at this point Detroit is hoping for anything that doesn't have California's fingerprints all over...