Auto Industry, Gm | featured news

General Motors Co posted a 22 percent rise in sales for January, outperforming expectations for the market as a whole on gains in demand for its pickup trucks.

General Motors' sales in China increased 28.8% in 2010 while U.S. sales rose just 6.3%. GM is one of the best-positioned automakers in emerging markets, even better than Toyota, says one expert. General Motors Co. sold more vehicles in China than it did in the U.S.

General Motors Co posted a 7.5 percent rise in December U.S. auto sales and said it expects the industry to report sales at a 13 million-vehicle annualized rate for last month -- far higher than many forecasts and what would be the highest rate of 2010.

Automakers expect the end of the year to close much stronger than it began.

Investor demand for General Motors stock has been so strong that the company will expand its initial public offering by 31 percent, to 478 million common shares, a person briefed on the sale said Tuesday.

General Motors says it made $2 billion in the third quarter, a strong showing that helps the company's pitch to investors who may buy stock in an initial public offering.

General Motors on Wednesday finalized terms for a stock offering of about $13 billion to repay a controversial taxpayer-funded bailout and reduce the Treasury to a minority shareholder.

October was a relatively good month for the auto industry, which is trying to build momentum in what has been a slow recovery.

The upcoming initial public offering of General Motors Co will be open to the widest possible range of investors, including both overseas funds and U.S. retail buyers, the U.S. Treasury said on Friday.

How long it takes for the government to divest its holdings in General Motors will, in part, be determined by the company’s success, G.M.’s chief executive said.