GM sells Subaru shares to Toyota
General Motors is selling it’s 20% stake in Fuji Heavy Industries at significant loss at about USD$ 735 million, compared to the USD$ 1.3 billion it paid in the year 2000.
Fuji Heavy Industries owns Subaru. GM says the partnership did not result in enough collaboration to justify the cost so it’s taking it’s money to invest somewhere else.
Of the 20% stake on the market now, Toyota confirmed it will buy up 8.7% which is 68 million shares. General Motors will sell the remaining 11.3% either back to Fuji Heavy Industries or put it on the open market.
Joint-car development projects between General Motors brands and Subaru will be discontinued. GM’s Saab had plans for a cross-over SUV based on the Subaru B9 Tribeca but the project is now scapped. However Subaru will continue building the Saab 9-2x which is based on the Subaru Impreza wagon.
Toyota is likely eyeing Subaru’s all-wheel drive technology.
Source: Detroit Free Press
October 6, 2005 @ 7:41 pm
w00t ?
TRD - Toyota Racing Development
STI - Subaru Tecnica International
TRD + STI = ?
Toyota Subaru Racing Tecnica Development International ?
TSRTDI !
Lols
October 6, 2005 @ 8:20 pm
if a company buys a another company is it necessary to combine them both ah?
how bout renault n nissan…nismo becomes nissault? NISSAN + RENAULT?
how bout volkswagen, audi, lamborghini n skoda n seat…all under one parent company which is VW…..do they combine names…..?????
how bout ford n volvo? becomes fordo? as in the LOrd of the rings guy……
they will share expertise and parts but sharing names will not happen……forever..
October 6, 2005 @ 8:21 pm
i mean combining names…….
October 6, 2005 @ 9:50 pm
hahaaa, macspeed, i think foxtrotecho is joking only ~~ need not to be so strict ~~ however.. Subaru is really doing good wit it’s car such as Legacy, wagon, and of course its WRX & WRX STi..
just share some real life experience wit u guys. 2 months ago my friend fetch me wit his 2.5Turbo Legacy, he suddenly push on the accelerator and moving straight to the TINY roundabout, my whole body was sticked wit the sofa, he take a 12 o’clock turn wit a speed of 80-110km/h (sorry guys, cant really remember the exactly speed, cause i was shocked by his sudden crazy actions). and the car just get the turn easily ~ mates… i really hv to commend that the car is good.. acceleration and suspension are excellents.
October 7, 2005 @ 12:57 am
Well, Daimler and Crysler combined their names together.
October 7, 2005 @ 1:55 am
HONDA + TOYOTA = HONDAYOTA
October 7, 2005 @ 1:56 am
and then its logo H combine with the toyota’s will look exactly like hyundai’s H in a oval….lol
October 7, 2005 @ 7:16 am
What is it with these car compoanies selling shares lately. World oil running out?
October 7, 2005 @ 7:40 am
Although GM is the largest AUTOmaker on Earth but they don’t make much profit compare to other like Honda & Toyota. The more company you jointed in the more expenses you have to pay for it. Every company need to lauch new models and spent a lot on R&D cost, but the market or demand still the same group of ppl. Therefore competing between themself is the biggest problems of GM. Some more they products are too American Style where Japanese or Asian ppl hate the most, big large, High fuel consumption, Ulgy interior and extrior, ……price not cheap too. Just opposite to Toyota and Japanese automakers, they are doing well in the USA nowadays. Hybrids, high performance, compact but unique interior with big space in side.
In order to survive, GM had to fire many staffs in the USA and sell off the partner company shares to get cash back. VW is similar case.
Therefore, BIG doesn’t means STRONG and SMALL doesn’t means WEAK, so who is the WINNER now.
October 7, 2005 @ 8:04 am
Proton + Perodua = Perodua
LOL
October 7, 2005 @ 8:05 am
Proton + Perodua equal to Perodua
LOL
October 7, 2005 @ 8:07 am
KL Lim arr!”
U got no work to DO meH!! That one ppl all knows already!!
October 7, 2005 @ 8:12 am
Proton + Perodua = Produa… just kick the E… you see the PREODUA on the back sticker of the Kancil people bought from kedai abang? just to let people know that this is not the original accessories? weird…
October 7, 2005 @ 8:14 am
Paul,
Read today The Star,
http://www.thestar.com.my/news/story.asp?file=/2005/10/7/nation/12250307&sec=nation
Comments:
ANY of you paid UNDER TABLE to get Myvi?? You can get back the cash, I hope!!
ACA, GREAT JOBS!! I loving it!
October 7, 2005 @ 9:46 am
porsche+ proton= poshton ahak ahak ahak…… lotus +proton= lontong…… ahak ahak ahak…… porsche+lotus+proton=POLOTON….. ahak ahak ahak
October 7, 2005 @ 10:16 am
Aiyaa ah lim, name is not importent laa ,,design creation,quality & durability is most importent you..
October 7, 2005 @ 10:40 am
haha i know who will survive first if oil depleted.. Smart and Honda! so they’ll combine too n become daSmartass
October 7, 2005 @ 1:47 pm
sigh
*me back to work to save for my first WRX
March 8, 2006 @ 10:38 pm
[...] GM is going on a share dumping spree. It previously unloaded Subaru shares partly to Toyota and the rest onto the open market. It’s recent stake dump is in the form of Suzuki Motor Corp shares. Suzuki Motor Corp and General Motors recently engaged a 17% share buyback transaction worth USD$1.96 billion. Most of the transaction is complete. [...]
April 8, 2008 @ 11:12 am
herm….
toyotanization