The writing was on the wall regarding GM’s (GM) woes in China, but now investors have some visibility into how dire the situation actually is. The news arrived as automakers like Ford and Volkswagen struggle on the China mainland. In a filing this morning, GM reported it would take a charge of $2.6 billion to…
What qualifies as a landmark moment in EV sales? For GM, the answer involves a number followed by five zeroes. The automaker just announced that, as of October 2024, it had sold 300,000 EVs in the United States — and a total of 370,000 EVs in North America. It’s one of two figures the automaker…
General Motors CEO Mary Barra said on Tuesday that EV manufacturers face steep competition in China. That competition comes with prices that are going “lower and lower,” she said. It’s not sustainable for EV manufacturers like GM, Barra said. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the…
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….
GM (GM) is upping the ante on its EV bet, investing $625 million directly into a US-based lithium mine project. GM and miner Lithium Americas (LAC) announced the two companies will create a joint venture to develop and mine a site known as “Thacker Pass” in Humboldt County, Nev. GM will invest the $625 million…
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…
General Motors (GM, Financial) reported a total vehicle delivery of 659,601 units in the U.S. for Q3, marking a 2.2% year-over-year decline. However, electric vehicle (EV) sales reached a new peak with 32,195 units sold, representing a 60% year-over-year increase and a 46% rise from Q2. As a result, GM’s market share in the U.S….
After a steep run-up in GM stock (GM), Bernstein analysts are warning investors to proceed with caution. Lead autos analyst Daniel Roeska wrote in a note Monday morning that while GM shares have jumped over 85% since November of last year, there are several headwinds on the way that could dampen the stock’s run. Bernstein…