General Motors reported third-quarter earnings that topped estimates. GM’s profits were driven by strong SUV sales, EV growth, cost reductions, and improved China sales. GM’s EVs hold a 9.8% share of the US EV market, behind only Tesla. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go….
In This Story After a week of positive momentum driven by robust economic growth, investors are gearing up for a moderately active week ahead. The upcoming days will feature a mix of key conferences, corporate earnings reports, and a handful of macroeconomic data releases, each holding the potential to influence market sentiment. Let’s take a…
Electric vehicle (EV) sales in the U.S. reached record levels in the third quarter of 2024, with an 11% year-over-year increase, according to Kelley Blue Book. A total of 346,309 EVs were sold, marking a 5% jump from Q2 and bringing the EV market share to 8.9%, the highest on record. This is a significant…
DETROIT – General Motors may be about to become a leader in the growing market for electric vehicles. This looked unlikely even six months ago, when production problems and sales delays haunted the automaker’s rollout of its much-hyped EVs. The tables are turning, thanks to a combination of consistent management, strategic thinking and delays and…
DETROIT – General Motors may be about to become a leader in the growing market for electric vehicles. This looked unlikely even six months ago, when production problems and sales delays haunted the automaker’s rollout of its much-hyped EVs. The tables are turning, thanks to a combination of consistent management, strategic thinking and delays and…
European Automakers Don’t Have A Response To China’s EV Offensive It’s been almost two years that China’s biggest EV maker and Tesla Inc (NASDAQ: TSLA) rival, BYD (OTC: BYDDY) entered the EU and the UK. While BYD marches on, traditional automakers like Ford Motor (NYSE: F), General Motors (NYSE: GM) and Volkswagen are struggling to…
NEW YORK (Reuters) – Shares of Ford Motor (F) and General Motors (GM)fell about 5% on Wednesday after Morgan Stanley analysts downgraded the U.S. automakers, citing a challenging market environment marked by falling prices and growing competitive threats particularly from China. Legacy U.S. automakers are faced with high inventories, falling prices, and signs of weakening…