General Motors

Stock Market Highlights, aug 09

General Motors' Cruise recalls 300 robotaxis after crash involving bus

General Motors' Cruise autonomous vehicle unit has recalled 300 robotaxis to update software after one of them rear-ended a municipal bus in San Francisco. Cruise says in government documents posted Friday that the robotaxi inaccurately predicted how the bus would move as it pulled out of a bus stop on March 23. The articulated two-section bus slowed as it was leaving the stop and was hit by the self-driving vehicle. Cruise characterised the crash as a fender-bender and said no one was hurt. The company says in documents sent to the National Highway Traffic Safety Administration that it did the software update on March 25. Cruise determined that the collision was caused by an issue related to prediction of the unique movements of articulated vehicles in rare circumstances, the company said in documents. The company said no other crashes have happened due to the problem and that the same thing won't happen again after the update. Cruise said it did the recall to be transparent and

SFL's powertrain components division receives General Motors award

This is the tenth time that SFL has received the Supplier of the Year award, underlining the company's dedication to delivering quality products that exceed GM's expectations

General Motors' 5,000 salaried workers take buyouts to leave company

GM will take a $1 billion charge in the first quarter, he said. The company had previously projected $1.5 billion in charges related to staff reductions

A labour hurdle to South Korean auto major Hyundai's expansion in India

Hyundai's aim to boost production by buying General Motors' Talegaon plant runs up against a two-year-old labour dispute

Hyundai inks pact to acquire General Motors India's Talegaon factory

Maharashtra facility can produce 1.3 million cars and 1.6 million engines annually

Automaker General Motors may bring ChatGPT-like digital assistant for cars

Automaker General Motors (GM) is reportedly working on a virtual personal assistant based on the same machine learning models that power ChatGPT

Automaker General Motors lays off 500 workers to cut costs: Report

Automaker General Motors is laying off hundreds of workers as it follows other major companies, including competitors, in downsizing headcounts to preserve cash and boost profits, the media reported

Streaming giant Netflix, GM partner to include more EVs in shows, movies

Streaming giant Netflix has announced that it has partnered with American automaker General Motors (GM) to include more electric vehicles (EVs) in its shows and movies

GM quarterly profit jumps 16% to $1.99 bn as sales rebound late in 2022

Rising factory output led to strong U.S. sales at the end of last year, pushing General Motors' fourth-quarter net income up 16% over the same period a year ago. The Detroit automaker made $1.99 billion from October through December, or an adjusted $2.12 per share, easily beating Wall Street per-share projections for $1.69, according to a poll of industry analysts by FactSet. Quarterly revenue rose 28% to $43.1 billion, the company said, also beating estimates for $39.96 billion. Shares of General Motors Co. jumped 4.6% before the opening bell Tuesday. GM made record pretax income of $14.47 billion, the high end of its guidance of $13.5 billion to $14.5 billion. About 42,000 hourly auto workers will get profit-sharing checks of roughly $12,750, up from $10,250 in 2021. The profit sharing will cost GM about $500 million. The company also announced that it will invest $650 million in Lithium Americas to jointly develop the Thacker Pass lithium mine in Nevada. Lithium is a key ele

General Motors' employee union sues global CEO Mary Barra: Report

The company has failed to pay the 1,086 workers it laid off in 2017 while exiting the Indian market

Roadblocks on exit route: GM, Ford struggle with lingering staff problems

The two Detroit majors are struggling with lingering employee problems as they seek to drive out of the Indian market

General Motors recalls over 825,000 vehicles to fix daytime running lights

General Motors is recalling more than 825,000 SUVs and cars in the US and Canada because the daytime running lights may not turn off when the headlights are on. The recall covers certain 2022 and 2023 Cadillac Escalade, Chevrolet Silverado 1500, Chevrolet Suburban and Tahoe, GMC Sierra 1500 and GMC Yukon SUVs. Also included are Cadillac CT4s and CT5s from the 2020 to 2023 model years, as well as Buick Envisions from 2021 to 2023. GM says in documents posted Wednesday by US safety regulators that daytime running lights that stay on with headlights can cause glare for other drivers, increasing the risk of a crash. Dealers will update software, or it will be updated online. Owners will be notified by letter starting January 23. The recall announced Wednesday adds more vehicles to a recall of 340,000 big SUVs in November.

Balenciaga joins other brands in quitting Twitter after Musk's takeover

Other companies have paused advertising on the platform, including General Motors, Volkswagen, Pfizer and General Mills.

Twitter's current travails with advertisers bring focus on brand safety

Focused approach to media targeting, using third-party verification tools among measures advertisers are adopting

ROHNEL MOTORS AND SPEEDFORCE INK STRATEGIC AGREEMENT

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General Motors temporarily suspends Twitter advertising after Musk takeover

The Detroit automaker, which is racing to catch up with Tesla in electric vehicle development, said Friday it's talking with Twitter to discuss how the platform will change

General Motors posts higher profit, reaffirms outlook; margin slips

GM's net margin slipped to 7.9%, from 9.0% a year earlier

GM announces mass-market EV for $30,000, threatens Elon Musk's Tesla

Called the 2024 Chevrolet Equinox EV, the car will have an estimated range of 480 kms and will go on sale next year

GM recalls 484k big SUVs to prevent third-row seat belts malfunction

The automaker says in documents posted by US safety regulators that rivets that hold the buckle to the mounting bracket on the left- and right side third-row seats may have been formed improperly.