General Motors Co
GM reports worst sales in China since onset of Covid-19 lockdowns
WUHAN, CHINA – 2022/05/18: Employees wearing masks work on a car assembly line at the SAIC General Motors Co. The SAIC General Motors Wuhan Branch has resumed production following epidemic prevention and control rules. (Photo by Ren Yong/SOPA Images/LightRocket via Getty Images) Sopa Images | Lightrocket | Getty Images DETROIT – General Motors on Wednesday […]
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Toyota hits sales milestone for electric vehicles, joins Tesla and GM in losing tax incentives for buyers
A Toyota bZ4X on display at the New York Auto Show, April 13, 2022. Scott Mlyn | CNBC Toyota Motor said it sold its 200,000th plug-in electric vehicle during the second quarter, triggering a phase out of U.S. tax credits of up to $7,500 for people who buy the cars. The Japanese automaker joins Tesla […]
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Investment banks trumpet fresh ideas in new second-half stock trades
Major investment banks expect the stock market’s volatility to continue in the second half of 2022. A brutal market sell-off saw the S & P 500 suffer its worst first half since 1970 as the Nasdaq Composite plummeted deep into a bear market. Meanwhile, the Federal Reserve kickstarted an aggressive rate hiking cycle to curb […]
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Self-driving cars from GM’s Cruise block San Francisco intersection in latest problem for autonomous vehicles
A robot car of the General Motors subsidiary Cruise is on a test drive. Andrej Sokolow | picture alliance | Getty Images Automotive and tech executives long promised autonomous vehicles would drive better than humans, but that wasn’t the case for a fleet of Cruise cars in San Francisco this week. The company, a majority-owned […]
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GM’s quarterly sales fall but show improvement from beginning of year
The GM logo is seen on the facade of the General Motors headquarters in Detroit, Michigan, March 16, 2021. Rebecca Cook | Reuters DETROIT – General Motors’ U.S. vehicle sales were down about 15% in the second quarter from a year ago as the automaker continues to battle supply chain issues, but showed improvement from […]
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GM warns of manufacturing issues in second quarter but stands by 2022 forecast
Mary Barra, Chair and CEO of the General Motors Company (GM), speaks during the Milken Institute Global Conference in Beverly Hills, California, on May 2, 2022. Patrick T. Fallon | AFP | Getty Images DETROIT – General Motors on Friday warned investors that supply chain issues would materially impact its second quarter earnings, while maintaining […]
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General Motors calls off plan to sell India car plant to China’s Great Wall
A photo of workers in a car factory in India. General Motors (GM) said on Friday it had called off the sale of a shuttered Indian plant to China’s Great Wall Motor after they failed to obtain regulatory approvals, amid a tougher stance by New Delhi towards investments from Beijing. Amit Pasricha | IndiaPictures | […]
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GM, Ford rising, Tesla falling in EV ‘car wars’ in U.S., Bank of America analyst says
DETROIT – It’s the beginning of the end for Tesla’s dominance of the U.S. electric vehicle industry, according to Bank of America Securities. As startups and legacy automakers introduce a significant number of new electric vehicles, Tesla’s domestic share of the EV market is expected to decrease from 70% or more in recent years to […]
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New car quality declined sharply this year with supply chain problems, says J.D. Power
Billboards at the Ziegler Cadillac, Buick and GMC Dealership in Lincolnwood, Illinois, the United States. U.S. General Motors Co. Joel Lerner | Xinhua News Agency | Getty Images New vehicle quality declined by 11% this year amid parts shortages, shipping snarls and global trade disruptions, according to J.D. Power’s 2022 Initial Quality Study. Buick, Dodge […]
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Raw material costs for electric vehicles have doubled during the pandemic
Workers inspect a Rivian R1T electric vehicle (EV) pickup truck on the assembly line at the company’s manufacturing facility in Normal, Illinois, US., on Monday, April 11, 2022. Jamie Kelter Davis | Bloomberg | Getty Images Raw material costs for electric vehicles more than doubled during the coronavirus pandemic, according to a new report Wednesday […]
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