Dallas, Texas 11/21/2013 (Financialstrend) – On Tuesday, the socialist government in Venezuela said that it was going to fine the local-subsidiary of socialist government almost $85,000 for allegedly selling-spare parts at very high prices. This measure came in the wake of the aggressive drive by Nicolas Maduro, the President’s government to tackle the Venezuela’s high inflation-rate and they have been forcing businesses to lower their prices.
Soldiers & state-inspectors have also been visiting literally hundreds of companies and shops and have also jailed dozens of people who have been accused of price-gouging; Maduro refers to this as the “economic war”. Though the government supporters have lauded these moves, critics are saying that the high inflation-rate is a result of 15 years of statist-economic policies that were started in 1999, by Hugo Chavez, the late President.
In Wednesday’s trading session, General Motors Company (NYSE:GM) dropped by 0.84%. The opening price of the shares was $38.11, which climbed to an intraday high of $38.71 and headed to close at $37.69. Approximately 16.90 million shares were traded on Wednesday while the average-volume of 19.55 million shares were traded over a 30 day period. The 52-week low of General Motors Company (NYSE:GM) shares is $24.38 while the 52-week high is $39.18. The company has a market capitalization of $52.35 billion.
About the company
General Motors Company (NYSE:GM) is involved in designing, building and selling cars, trucks & automobiles parts internationally. It also provides automotive-financing services via General Motors Financial Company. General Motors Company (NYSE:GM)’s automotive-operations meet the string demands of its customers via its 4 automotive-segments: one- GM North America (GMNA), two- GM Europe (GME), three- GM International Operations (GMIO) and four- GM South America (GMSA). In the year that ended in 31st December, 2012, General Motors Company (NYSE:GM)’s total global vehicle sales stood at 9.3 million.