General Motors Company (NYSE:GM) Stock Trading Low – NYSE Post
Boston, MA, 11/26/2013 (nysepost) – A couple in Calgary have flung accusations at General Motors Company (NYSE:GM) after they purchased a Chevy Cruze. The accusation is that the vehicle guzzles 50% more gas than what had been advertised by the automaker. Farah Mocquais, the owner of the vehicles said that she feels strongly cheated.
Pierre-Yves, her husband said that instead of saving money they ended ups spending more than they ideally should have. His estimate is that by the time the odometer touches 1000,000 kms, they will have spent $3,500 more just on gas.
He said that they are aware that generally, fuel-efficiency tests are performed under certain conditions but that this situation that they were facing was completely different from what had been advertised. In 2011, the couple purchased the Cruze LT 1.4L automatic based on General Motors Company (NYSE:GM)’s figures that it would consume 5.5 liters of gas/ 100 kms of highway driving.
The couple said that over the following months, the car had been driven 99% only on the highway. However, the fuel consumption screen almost always indicated that it had utilized 8.5 liters /100 kms. Over time, there was a slight improvement in this number recently; it indicated 7.9 liters per 100 kms consumption. Even that figure is 2.4 its more gas than what 7.9 liters advertised. The company will have to keep some answers ready for the angry couple.
Monday’s trading
Over Monday’s trading session, General Motors Company (NYSE:GM) dropped by 0.21%. The shares opened at a price of $37.75, climbed to the intraday high of $37.87 and headed to a close of $37.55. Around 21.11 million shares were exchanged on Monday and an average-volume of 20.31 million shares were traded over a period of 30 days. The 52-week low of General Motors Company (NYSE:GM) shares is $24.40 and the 52-week high is $29.18. The company has a market capitalization of $52.16 billion.
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General Motors Company (NYSE:GM) Stock Trading Low – NYSE Post
