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Generalmotors

All articles tagged with #generalmotors

finance1 year ago•2 min saved

Key Insights for the Stock Market's Next Opening

Stock futures were nearly flat Tuesday morning as Wall Street considered investment options following a postelection rally. Home Depot raised its full-year sales outlook after beating expectations, while Mattel recalled 'Wicked' dolls due to a packaging error. General Motors led automakers with strong earnings and stock buybacks, and Bitcoin continued its record run, nearing $90,000, driven by expectations of a favorable regulatory environment under President-elect Trump.

via CNBC|

#bitcoin #finance #generalmotors

business2 years ago•1 min saved

"Stellantis Opts Out of Super Bowl Ads and Auto Shows, Signaling Industry Shift"

Stellantis, the parent company of Jeep, Chrysler, and Ram, has announced it will not advertise during the Super Bowl, citing the need to preserve business fundamentals amid a challenging U.S. automotive market. This decision follows a similar move by General Motors (GM) and comes after both companies were affected by a six-week UAW strike, which led to ratified contracts with significant wage increases and cost of living adjustments. The cost of a 30-second Super Bowl ad in 2023 was nearly $7 million, and GM reported a $1.1 billion loss due to the strike.

via Yahoo! Voices|

##automotiveindustry #business

business-and-finance2 years ago•2 min saved

"GM Counters EV Tax Credit Changes with $7500 Discount on Select Models"

General Motors is offering a $7,500 incentive on its electric vehicles that no longer qualify for a U.S. government tax credit due to new battery sourcing requirements. This move comes after the Treasury's guidelines, which aim to reduce reliance on China for EV supply chains, resulted in a reduction of eligible EV models from 43 to 19. Meanwhile, Ford is adjusting prices on its F-150 EVs, with increases on lower-priced models and cuts on premium ones. GM expects its EVs to regain eligibility for the credit in early 2024 after a sourcing change. The new U.S. EV tax credit rules are part of the 2022 Inflation Reduction Act, which requires vehicles to be assembled in North America to qualify.

via Reuters|

##autoindustry #business-and-finance

business-and-economy2 years ago•6 min saved

"GM Retains US Sales Lead in 2023 Amidst Strikes and EV Hurdles as Pickups Dominate and Hyundai-Kia Surges"

General Motors (GM) retained its position as the top-selling automaker in the United States for 2023, with a 14% increase in sales despite a United Auto Workers (UAW) strike and production issues with its electric vehicles (EVs). GM sold 2.6 million vehicles, outpacing Toyota, which sold 2.3 million. The Chevrolet Bolt and Bolt EUV were GM's best-selling EVs, while new SUVs and pickups also drove sales. The UAW strike affected production, but GM still managed to increase its market share and is planning to launch new EV models and update its gasoline-powered lineup in 2024.

via Detroit Free Press|

##autosales #business-and-economy

automotive-business2 years ago•2 min saved

"GM Counters Reduced EV Tax Credits with $7500 Discounts on Select Models"

General Motors (GM) is offering a $7,500 discount on certain electric vehicles (EVs) to offset the temporary loss of the federal EV tax credit for models like the Cadillac Lyriq and Chevrolet Blazer EV due to component qualifications. The Chevrolet Bolt will retain the full credit, while GM plans to adjust sourcing to regain eligibility for other models. The EV tax credit landscape has changed significantly, with only 19 EVs qualifying in the U.S. as of 2024, down from 43 in 2023. The IRS has also updated the process, allowing customers to receive the credit at the point of sale rather than through tax filings.

via TESLARATI|

##automotive-business #automotiveindustry

business-and-economy2 years ago•1 min saved

"U.S. Auto Sales Surge in 2023 Despite Predictions of a Challenging 2024"

General Motors (GM) reported a 14.1% increase in U.S. vehicle sales for 2023, totaling approximately 2.6 million vehicles, marking its best performance since 2019. The sales were consistent with industry expectations, with Edmunds projecting industrywide sales of 15.5 million for the year. GM's growth was particularly strong in its Buick brand, which saw a 61% increase, and the company expects U.S. industry sales to reach 16 million in 2024. GM attributes its success to growing market share, strong pricing, and low incentives.

via CNBC|

##automotiveindustry #business-and-economy

business-and-finance2 years ago•3 min saved

"Assessing the Future of Robotaxis Amidst Safety Concerns and Industry Setbacks"

General Motors' autonomous vehicle subsidiary, Cruise, has faced significant setbacks, including safety probes, permit suspensions, and leadership changes, leading to a workforce reduction and raising questions about its future. In contrast, Ford scaled back its own autonomous vehicle efforts with Argo AI, focusing on more immediate and profitable driver assistance technologies. Investors are now watching to see if GM's continued investment in Cruise will pay off or if Ford's more conservative approach will prove to be the wiser strategy in the long run.

via The Motley Fool|

##autonomousvehicles #business-and-finance