Dallas, Texas 07/30/2013 (Financialstrend) – General Motors Co. (NYSE:GM) recently dismissed many of its managers and executives, including its global engine operation’s head due to violation of unspecified company policies following the questions raised by Indian government about recall of the company’s 114,000 Chevrolet Tavera utility vehicles sold in India. It was by Indian news report that investigation is made to check whether the company improperly manipulated the engine performance and weight in its Chevrolet Tavera during testing and certification. Earlier the company accrued Durant-Dort Carriage Co. “Factory One” building in Flint, the company used this in 1880’s when it was part of Flint Cotton & Woolen Mills. The historic factory was purchased for multiple purposes usage that includes exhibition of conduct events for community, dealers and to host auto reveals and to exhibit the company’s vehicles.
Various analysts expects that General Motors revenue will be increased and profit will be down in its second quarter as it worked hard while Europe continues to weigh on earnings and achieved Overhaul Product Lines. Analysts at Thomson Reuters estimated profit will be grounded by 17% and net income to fall from $1.5 billion to $1.1 billion and revenue to have growth up to 2 percent with $38.4 billion.
The share of General Motors Company (NYSE: GM) are currently trading at $36.74, up by 0.99%. The company has recorded the intraday trading low price of $36.32 and high price of $36.78. For the last 52 weeks of trading, the low price of the stock is at $18.93 and high price of the stock is at $37.71 per share. Currently there are 1.37 billion shares of the company in the market and 48% institutional ownership. The company reported trading at 6.72 million shares and the trading volume on an average for the company was 12.38 million shares per day. The total market cap value of the company is 50.52 billion.
