AUTOS

GM to Issue Preferred Shares: General Motors Corp. said it plans to offer $350 million of Series D fixed rate preference stock, completing the sale of shares covered by a shelf registration of $1.5 billion worth of preference stock late last year. The offering will be in the form of 14 million depositary shares priced at $25 each and non-callable for seven years. Each depositary share represents one-fourth of a share of Series D preference stock. The dividend rate on the new issue will be set at the time of pricing, GM said. A spokesman for Lehman Bros., which is leading investment banks underwriting the issue, said he expects the issue to be priced early next week to yield about 8%.