Mary Barra
GM initiates $10 billion buyback, boosts dividend and reinstates 2023 guidance after UAW strikes
General Motors is working to regain Wall Street’s confidence leading into 2024 with several investor-focused initiatives Wednesday following a tumultuous year of labor strikes and setbacks in its plans for electric and autonomous vehicles. The Detroit automaker plans to increase its quarterly dividend next year by 33% to 12 cents per share; initiate an accelerated […]
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Cruise pauses all driverless operations after collisions with pedestrians, allow suspensions in California
A Cruise automobile in San Francisco, California, on Wednesday Feb. 2, 2022. David Paul Morris | Bloomberg | Getty Photos Cruise, the autonomous car startup owned by Standard Motors, has paused all of its driverless operations right after collisions led to investigations, a disagreement with point out regulators, and a suspension of its licenses in […]
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GM, Honda scrap plans to co-develop ‘affordable’ sub-$30,000 EVs
The 2024 Honda Prologue is one of two EVs being made by General Motors for the Japanese automaker, utilizing its Ultium battery technologies. Honda DETROIT – General Motors and Honda Motor have canceled plans to jointly develop affordable electric vehicles as they face slower-than-expected demand and changing market conditions. The unwinding of the tie-up roughly […]
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UAW expands strike to crucial GM SUV plant in Texas hours after automaker reports earnings
Striking United Auto Workers members from the General Motors Lansing Delta Plant picket in Delta Township, Michigan, on Sept. 29, 2023. Rebecca Cook | Reuters DETROIT – The United Auto Workers expanded its strikes against General Motors to a highly profitable full-size SUV plant in Texas, the union said Tuesday. The strike escalation includes roughly […]
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GM and Ford will answer to Wall Street and the UAW with third-quarter earnings this week
Jim Farley, CEO, Ford, left, and Mary Barra, CEO, General Motors Reuters; General Motors DETROIT — Ready for a tightrope walk? General Motors and Ford Motor report third-quarter earnings and future guidance this week amid ongoing strikes and contract negotiations with the United Auto Workers union. And it’s a difficult balance. If the automakers are […]
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GM secures new $6 billion credit line as UAW strike costs reach $200 million
DETROIT – General Motors secured a new $6 billion line of credit as the automaker braces for additional strikes by the United Auto Workers union. “The facility that we announced today is a $6 billion line of credit that I think is prudent in light of some of the messages that we’ve seen from some […]
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Automakers question UAW’s strike motives after leaked ‘chaos’ messages
UAW President Shawn Fain (center) marches with UAW members through downtown Detroit after a rally in support of United Auto Workers members as they strike the Big Three auto makers on September 15, 2023 in Detroit, Michigan. Bill Pugliano | Getty Images DETROIT – Major automakers are calling into question the United Auto Workers’ motives […]
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GM sweetens UAW offer to include 20% wage increase, other benefits as it tries to avoid strike
General Motors CEO Mary Barra talks with reporters following a meeting with lawmakers from Michigan and Ohio at the U.S. Capitol June 05, 2019 in Washington, DC. Chip Somodevilla | Getty Images DETROIT – General Motors is attempting to avoid a looming strike by the United Auto Workers union through a new offer Thursday that […]
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Electric Cadillac Escalade to test GM’s EV strategy, cash machine
2023 Cadillac Escalade V-Series Cadillac NEW YORK – General Motors on Wednesday will reveal a new all-electric version of the Cadillac Escalade, testing the luxury SUV’s prestige for a new era of drivers and the company’s strategy to turn its most lucrative vehicles into money-making EVs. GM CEO Mary Barra and other executives have promised […]
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GM blames supplier for slow EV production, says Chevy Bolt EV will live on
GM Chair and CEO Mary Barra addresses investors Oct. 6, 2021 at the GM Tech Center in Warren, Michigan. Photo by Steve Fecht for General Motors DETROIT — General Motors CEO Mary Barra on Tuesday blamed a supplier of automation equipment for the slow ramp-up of GM’s new electric vehicles, after Wall Street criticized the […]
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