Cadillac brand points to strong growth in China, according to GM
General Motors’ luxury Cadillac brand is taking advantage from strong growth in China, the American automaker stated at a conference on Wednesday in New York. GM Cadillac President Steve Carlisle stated that Cadillac would broaden its network of dealers to 500 in China by 2025. The U.S. automaker will introduce a new product every 6
- Published in Cadillac, General Motors
GM CEO’s pay dipped to under $22 million in 2018
General Motors’s top CEO, Mary Barra, got a compensation package worth just below $22 million in 2018, slightly less than the earlier year, according to the No. 1 U.S. automaker’s proxy statement issued on Thursday. GM also stated two members of the board of directors – former chairman of the joint chiefs of staff, retired
- Published in General Motors
General Motors expects positive results from GEM
General Motors has spent five years reviewing its playbook for making money in Latin America and the interior of China. At this moment, it’s show time for the initial results of a project code-named GEM, for Global Emerging Market. At events this week prior to the Shanghai Auto Show, the American automaker plans to reveal
- Published in General Motors
GM, Ford and Toyota join to advance self-driving innovation
Three major automakers stated on Wednesday they were establishing a consortium to help draw up safety standards for self-driving vehicles that could eventually help forming regulations in the United States. General Motors, Ford Motor and Toyota Motor stated they were joining forces with automotive engineering group SAE International to form autonomous vehicle “safety guiding principles
- Published in Ford, General Motors, Toyota
U.S. March and quarter one auto sales drop in weak start to this year
Significant automakers on Tuesday reported weak U.S. sales for March and the first quarter, mentioning a rough start to the year, but stated a robust economy and strong labor market should support consumers to purchase more vehicles as 2019 rolls on. Passenger-car sales had a hard time throughout the January-March quarter compared with the same
- Published in Ford, General Motors
GM new vehicle sales in US drop 7 percent in first quarter
General Motors on Tuesday reported a 7 percent drop in U.S. new vehicle sales for the first quarter, hit by reductions in passenger car sales. The No. 1 U.S. automaker stated it sold 665,840 vehicles in the first quarter, compared with 715,794, a year previously. American customers have been abandoning conventional passenger cars in favor
- Published in General Motors
Tesla supplier agrees to purchase GM’s South Korean plant
A South Korean supplier of Tesla Inc stated on Friday it had agreed to purchase a shuttered auto factory from General Motors’ local unit to start contract manufacturing of electric vehicles. The deal comes after GM shut down one of its four South Korean plants in late May and let go thousands of employees, as
- Published in General Motors, Tesla
General Motors to sell closed South Korean plant for nearly $100 million
South Korean auto parts maker Myoungshin prepares to purchase General Motors’ car factory located in the southwestern city of Gunsan for 113 billion won ($99.9 million), Myoungshin’s parent firm stated in a regulatory filing. Myoungshin, a unit of MS Autotech, stated it will purchase the land and buildings of the GM facility to go after
- Published in General Motors
No cut in Chevrolet Bolt price as U.S. tax credit for EVs drops
General Motors on Thursday stated it has no strategy to slash the sticker price on its electric Chevrolet Bolt sedan following a federal tax credit drops by half to $3,750 on Monday. In 2018, GM became the second automaker in the United States to surpass the 200,000 cumulative electric vehicles sales figure, which triggers a
- Published in General Motors
General Motors confirms $300 million investment in Michigan plant
General Motors confirmed on Friday it will spend $300 million in a suburban Detroit assembly plant, bringing 400 jobs to build a new Chevrolet electric vehicle. The largest U.S. automaker has come under criticism from US President Donald Trump in recent days for its decision to put an end to production at its Lordstown, Ohio,
- Published in General Motors
General Motors to invest $2.7 billion in Sao Paulo, Brazil factories
General Motors stated on Tuesday it would spend $2.7 billion in two Brazilian factories during the next five years, sparing them from a shakeup of the car manufacturer’s operations, a decision hailed by the governor of Brazil’s largest state. Sao Paolo state Governor Joao Doria informed a joint news conference with GM executives that the
- Published in General Motors
General Motors considers options for its Lyft stake
As Lyft Inc cruises toward an initial public offering in March, one of the big winners will be General Motors, whose stake in the ride-hailing firm could be worth about $1.27 billion. The automaker is not talking about its strategies for that investment, and investors polled by Reuters, owning a collective 35.7 million shares, do
- Published in General Motors
Trump prompts General Motors to restart Ohio plant
U.S. President Donald Trump prompted General Motors to restart Ohio plant in a tweet on Saturday, ten days after the plant made its final Chevrolet Cruze. The last Cruze rolled off the assembly line this month at the automaker’s plant in Lordstown, Ohio, the first of five plants in North America to finish production this
- Published in General Motors
General Motors considers options for its Lyft stake following IPO
As Lyft Inc cruises toward an initial public offering in March, one of the big winners is going to be General Motors, whose stake in the ride-hailing firm could cost as much as $1.27 billion. GM is not discussing about its plans for that investment, and investors surveyed by Reuters, owning a collective 35.7 million
- Published in General Motors
General Motor’s Cruise unit to double headcount
General Motors’s self-driving car subsidiary, Cruise, stated it prepares to hire 1,000 more people during the next nine months, as the No.1 U.S. carmaker aims to launch a robotaxi service by the end of this year. “We have plans to double in size by the end of this year,” Cruise spokesman Ray Wert informed Reuters.
- Published in General Motors