Detroit
GM's 2023 U.S. vehicle sales were its best since 2019
DETROIT – General Motors’ U.S. vehicle sales increased 14.1% last year to represent the automaker’s best year since 2019, prior to the impacts of the coronavirus pandemic and yearslong supply chain problems. The Detroit automaker on Wednesday reported sales of roughly 2.6 million vehicles in 2023, including 625,176 cars and trucks sold during the fourth […]
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From FedEx to airlines, companies are starting to lose their pricing power
Pedestrians carrying Nike and Allbirds shopping bags in the SoHo neighborhood of New York on Oct. 24, 2021. Nina Westervelt | Bloomberg | Getty Images After years of unbridled consumer spending on everything from home improvement to dream vacations, some companies are now finding the limits of their pricing power. Shipping giant FedEx last week […]
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New car sales are expected to rise slightly next year in the U.S.
New Kia cars are displayed on the sales lot at San Leandro Kia on May 30, 2023 in San Leandro, California. Justin Sullivan | Getty Images DETROIT – Sales of new vehicles in the U.S. are expected to increase slightly next year, as the automotive industry continues to normalize from the coronavirus pandemic and other […]
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GM has cut its Buick dealership network in half through buyouts
DETROIT – General Motors has cut the size of its Buick dealership network roughly in half in the U.S. through an ongoing voluntary buyout program, an executive told CNBC. The 1,000-store reduction aims to increase the amount of sales per location, or throughput, and profits at the remaining dealers, according to Duncan Aldred, global head […]
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Cruise is in danger of becoming GM's latest trendy venture that doesn't pay off
DETROIT — General Motors‘ plans to diversify its business through trendy industries such as ridesharing and other “mobility” ventures or startups have largely fallen flat since the automaker started investing in such growth areas in 2016. Cruise, its majority-owned autonomous vehicle subsidiary, is increasingly looking like it might be next. The unit has quickly gone […]
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GM to lay off 1,300 Michigan workers as vehicles end production
UAW Local 5960 member Kimberly Fuhr inspects a Chevrolet Bolt EV during vehicle production on May 6, 2021, at the General Motors Orion Assembly Plant in Orion Township, Michigan. Steve Fecht for Chevrolet DETROIT — General Motors plans to lay off about 1,300 workers in Michigan starting early next year due to vehicles they produce […]
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Cadillac reveals three-row Vistiq to round out electric SUV lineup
2026 Cadillac Vistiq EV Cadillac DETROIT – Cadillac plans to round out its upcoming lineup of all-electric SUVs with a three-row vehicle called the Vistiq, a replacement for its current gas-powered XT6. The General Motors luxury brand on Thursday released images of the Vistiq, which is expected to be its fifth EV, and slot between […]
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Ford cuts planned 2024 production of electric F-150 Lightning in half
Ford workers produce the electric F-150 Lightning pickup at the automaker’s Ford Rouge Electric Vehicle Center on Dec. 13, 2022. Michael Wayland | CNBC DETROIT — Ford Motor will cut planned production of its all-electric F-150 Lightning pickup roughly in half next year, marking a major reversal after the automaker significantly increased plant capacity for […]
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UAW files unfair labor practice charges against Hyundai, Honda and VW, accusing them of union busting
United Auto Workers President Shawn Fain during an online broadcast updating union members on negotiations with the Detroit automakers on Oct. 6, 2023. Screenshot DETROIT — The United Auto Workers has filed unfair labor practice charges with the National Labor Relations Board against Honda Motor, Hyundai Motor and Volkswagen, accusing the automakers of unlawfully interfering […]
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Why automakers are turning to hybrids in the middle of the industry's EV transition
2023 Prius Prime on display, April 6, 2023. Scott Mlyn | CNBC DETROIT — As sales of all-electric vehicles grow more slowly than expected, major automakers are increasingly meeting their customers in the middle. More and more companies are reconsidering the viability of hybrid cars and trucks to appease consumer demand and avoid costly penalties […]
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