GM Plans Cadillac Hybrid - Analyst Blog
August 23 2011 - 6:53AM
Zacks
General Motors Company (GM) plans to
manufacture a luxury electric car dubbed ELR based on the
technology used in its Volt plug-in hybrid for its
Cadillac brand
as part of its long-term goal to become a leader in the
fuel-efficient vehicles market.
The Volt, which went on sale in mid-December last year, is the
most fuel-efficient compact car sold in the U.S. as rated by the
U.S. Environmental Protection Agency (EPA).
The vehicle operates as a pure battery electric vehicle until
its plug-in battery capacity is depleted, at which point its
gasoline engine powers an electric generator to extend the
vehicle’s range. It can travel 25 to 50 miles (40 to 80 km) on
lithium-ion battery alone. The Volt’s regenerative braking also
contributes to the generation of on-board electricity.
GM did not disclose the timing for production of the ELR coupe. However,
it is rumored that the vehicle will go into production in
2013 as a 2014 model.
This apart, GM also plans to build an all-electric subcompact
car for the Chevrolet brand. The automaker has already chosen
A123 Systems Inc. (AONE) as the battery supplier
for the vehicle by awarding a contract to the Watertown,
Massachusetts-based battery maker. The pure electric Chevy
subcompact would compete with Nissan Motor Co.’s
(NSANY) Leaf, which was introduced in late-2010.
GM, a Zacks #3 Rank (Hold) stock posted a profit of $2.54
billion or $1.54 per share in the second quarter of the year, which
almost doubled from $1.33 billion or 85 cents per share in the same
quarter of 2010. With this, the automaker has beaten the Zacks
Consensus Estimate by 33 cents per share.
Revenue in the quarter appreciated 19% to $39.37 billion
(including $330 million from GM Financial) on worldwide sales of
2.32 million units versus 2.16 million a year ago, thereby
capturing a market share of 12.2%. It also exceeded the Zacks
Consensus Estimate of $36.61 billion.
The company fared well compared with its hometown rival,
Ford Motor Co. (F) during the quarter under study.
Ford posted a profit of $2.64 billion or 65 cents per share in the
second quarter, a $67 million or 2.5% decline from $2.70 billion or
68 cents per share in the corresponding quarter of 2010. However,
the company’s profits were higher than the Zacks Consensus Estimate
of 60 cents per share.
A123 SYSTEMS (AONE): Free Stock Analysis Report
FORD MOTOR CO (F): Free Stock Analysis Report
GENERAL MOTORS (GM): Free Stock Analysis Report
NISSAN ADR (NSANY): Free Stock Analysis Report
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