GM’s CEO payday, Volvo passes to Jeremy Lin and Subaru’s BRZ ambitions in the Dash
What we're reading in this morning's Dash about GM's CEO payday, Jeremy Lin's latest assist and good news for Subaru sports car fans:
GM grants CEO $2 million in stock [Detroit Free Press] General Motors admiral Dan Akerson got $2 million in restricted shares for his job steering the world's largest automaker last year. If that seems low for a CEO, it's because GM still must get U.S. government approval for its executive pay.
Volvo signs Jeremy Lin [Wall Street Journal] As expected earlier this month, Volvo signed on New York Knicks cooling star Jeremy Lin as a pitchman for China and the United States. Celebrity endorsements rarely work well for automakers, and in cases like Chrysler and Celine Dion, can go horrifying wrong. The other automaker with an NBA pitchman — Kia and Blake Griffin — has made some funny ads, but Kia sales were booming before Griffin started dunking over them. If Lin boosts Volvo in China, the deal might pay for itself.
China sales expected to miss growth target [Bloomberg] Higher fuel prices aren't just a concern of American shoppers. In China, slack demand has lead dealers to offer incentives worth up to 20% off sticker prices, and should the market slow further, the hardest-hit would be European luxury automakers relying on China in the midst of a weak market at home.
Subaru sets 100,000 target for BRZ/FT-86/FR-S [FT86club.com] The president of Subaru parent Fuji Heavy Industries says the company wants to build 100,000 copies a year of the BRZ and twin Toyota FT-86/Scion FR-S sports cars, after early orders suggest demand was far greater than expected.
Top photo: The stainless steel bust of Louis Chevrolet by artist Christian Gonzenbach that will grace his hometown of La Chaux-de-Fonds, Switzerland. It's really...something.