General Motors to Boost Headcount - Analyst Blog
May 25 2012 - 1:03PM
Zacks
General Motors Company (GM) is reportedly
enlarging its workforce in the Detroit-Hamtramck assembly plant by
adding 200 new workers. The decision comes in the wake of rising
demand prior to the beginning of the production of 2013 Chevrolet
Malibu.
Currently, the assembly plant employs about 1,350 people. Around
1,200 employees work on hourly basis and the remaining 150 are
General Motors’ salaried employees. The plant at present operates
on a shift basis which entails working for ten hours per day and
four days per week.
The Detroit-Hamtramck factory products include Chevrolet Volt,
Opel Ampera and Chevrolet Malibu (to be launched in 2013). The
plant will also build the new 2014 Chevrolet Impala. The company
has invested $336 million for Chevrolet Volt and Opel Ampera,
roughly $121 million for Chevrolet Malibu and $69 million for
Chevrolet Impala.
Like General Motors, Chrysler is also providing job
opportunities in Detroit. Its Jefferson North Assembly Plantmainly
produces Jeep Grand Cherokee. The company, in order to increase the
production, would add a third shift to the assembly.
Chrysler announced in December 2011 that it will reopen the
Conner Avenue Assembly Plant in Detroit for the production of the
next-generation SRT Viper. With this, the company will be providing
job opportunities for 1,250 workers, both salaried and hourly
workers.
Detroit, Michigan-based General Motors Company is a leading
global automotive company. The company along with its strategic
partners, produces, sells and services cars, trucks and parts under
four core brands –Chevrolet, Buick, GMC and Cadillac. It also
assembles passenger cars, crossover vehicles, light trucks, sport
utility vehicles, vans and other vehicles. The company’s major
competitors are Ford Motor Co. (F) and
Toyota Motor Corp. (TM).
General Motors currently retains a Zacks #3 Rank, which
translates into a short-term (1 to 3 months) Hold rating. The
company has growth opportunities from the emerging markets. Sales
will also be boosted by the rising demand in the industry and
diversified lineups.
However, high debt level and the Euro zone crisis have weighed
on General Motors. Taking these factors into account, we currently
have a long-term (more than 6 months) Neutral recommendation on the
stock.
FORD MOTOR CO (F): Free Stock Analysis Report
GENERAL MOTORS (GM): Free Stock Analysis Report
TOYOTA MOTOR CP (TM): Free Stock Analysis Report
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