General Motors has officially filed paperwork with the Securities and Exchange Commission for an Initial Public Offering. Although common stocks will make up the bulk of the IPO, GM is also offering preferred stock to allow American taxpayers, via the U.S. Treasury, the chance to reduce their stake in the automaker as much as possible. [Read More]

Still riding on the momentum from not accepting a government handout and from having more desirable vehicles, FoMoCo announced a second quarter 2010 net income of $2.6 billion, or 61 cents per share. That’s a $338 million improvement from the second quarter of 2009 and a $932 million improvement from the first quarter of 2010. [Read More]

General Motors reported today that it was profitable in the first quarter of 2010, recording $31.5 billion in revenue and $1.2 billion in operating income. The portion of income belonging to common stockholders was $0.9 billion, resulting in earnings per share on a diluted basis of $1.66. A year ago, GM lost nearly $6 billion [Read More]

Ford Motor Co. reported a $2.1 billion profit for the first quarter of 2010 and has raised its forecast for the full year. The is the forth quarter in row — since the second quarter of 2009 — that the company has reported a profit. It has boosted its second-quarter North America production by 30,000 [Read More]

Hyundai Motor posted a record operating profit for its fourth quarter. Its small cars have proven to be popular with recession-weary buyers and, with Toyota facing an image crisis, the South Korean automaker looks to maintain the momentum it has over its rivals for the year. “Hyundai still has a lot of momentum, particularly compared [Read More]