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Top related persons:
Mary Barra - 2 Tesla - 2 General Motors - 1 GM's - 1 Paul Jacobson - 1 walkouts - 1 Shawn Fain - 1 Elon - 1
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Queens , New York U.S Detroit Beverly Hills , California Wells GM’s Arlington KS South Korea
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General Motors Company - 3 United Auto Workers - 3 GM - 3 UAW - 3 Detroit - 2 Thomson - 2 Milken Institute Global Conference - 1 General - 1

Search resuls for: "General Motors Company"


7 mentions found


☆ GM initiates $10 billion buyback, boosts dividend and reinstates 2023 guidance after UAW strikes
  + stars: | 2023-11-29 | by ( Michael Wayland | ) www.cnbc.com   time to read: +2 min
General Motors is seeking to regain Wall Street's confidence leading into 2024 with several investor-focused initiatives Wednesday following a tumultuous year of labor strikes and setbacks in its plans for electric and autonomous vehicles. GM's reinstated 2023 guidance also includes:Net income attributable to stockholders of $9.1 billion to $9.7 billion, compared to a previous outlook of $9.3 billion to $10.7 billion. Adjusted EBIT of $11.7 billion to $12.7 billion, compared to the previous outlook of $12.0 billion to $14.0 billion. Adjusted earnings per share of roughly $7.20 to $7.70 including the stock buyback, compared to the previous outlook of $7.15 to $8.15. Before the UAW strikes, CFO Paul Jacobson said the company was on track to achieve "toward the upper half" of its earnings forecast.
Persons: Mary Barra, General Motors, GM's, Paul Jacobson Organizations: General Motors Company, Milken Institute Global Conference, General, Detroit, United Auto Workers, GM, UAW Locations: Beverly Hills , California
☆ GM earnings give its restive workers an inch
  + stars: | 2023-10-24 | by ( Jonathan Guilford | ) www.reuters.com   time to read: +4 min
On Tuesday, GM reported strong earnings that will embolden staff who have walked out at all three of the big Detroit firms. GM beat analysts’ expectations for third-quarter profit despite a $200 million hit from the strikes that started in September. That said, the firm run by Mary Barra also ditched its official forecast as it wrestles with the $200 million weekly costs from labor disruptions. Fortunately for GM, talks with its union seem to have narrowed in from earlier demands that would have vaporized the industry’s operating profit. Ongoing strikes by the United Auto Workers union, which represents GM employees, cost the company $200 million in the third quarter.
Persons: walkouts, Mary Barra, Shawn Fain, Tesla, Elon, Fain, John Foley, Sharon Lam Organizations: General Motors Company, Reuters, United Auto Workers, General Motors, Ford Motor, GM, Cox Automotive, UAW, Elon Musk’s, United Auto Workers union, Detroit, Thomson Locations: Queens , New York, U.S, Detroit, Wells, GM’s Arlington
☆ US new vehicle sales jump in third quarter as UAW strike casts shadow
  + stars: | 2023-10-03 | by ( Nathan Gomes | ) www.reuters.com   time to read: +2 min
REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsOct 3 (Reuters) - Top global automakers on Tuesday reported a rise in U.S. new vehicle sales for the third quarter, buoyed by resilient demand for latest models and improved supplies. EV sales jumped 28% in the third quarter from the preceding quarter, the company said. Meanwhile, Asian brands posted strong gains in the quarter. Toyota Motor Corp (7203.T) posted a 12.2% rise in third-quarter U.S. sales. However, the South Korea-based automaker said rising interest rates "make it very, very challenging for consumers to purchase a vehicle."
Persons: Andrew Kelly, Tesla, Nathan Gomes, Joseph White, Sriraj Organizations: GMC, General Motors Company, REUTERS, General Motors Co, EV, United Auto Workers, UAW, Detroit Three, GM, Motor, Toyota Motor Corp, Kia, Hyundai, U.S, Reuters, Monday, Thomson Locations: Queens , New York, U.S, KS, South Korea, Bengaluru, Detroit
☆ Four ways for car buyers to survive the interest-rate crunch
  + stars: | 2023-03-23 | by ( Chris Taylor | ) www.reuters.com   time to read: +4 min
New car buyers with a monthly payment over $1,000 rose to an all-time high of 16.8% in February, auto information site Edmunds' data showed. While car prices have been leveling off as the supply chain normalizes, interest rates are squeezing buyers' wallets. A monthly car payment of more than $1,000 is starting to show its painful effects. Punishing interest rates are forcing car buyers to make tough decisions. "If you're already tied up with a large car payment, then I suggest you sell it and get a car you can actually afford," Fetters said.
☆ Sacked GM workers in India sue company, CEO Barra for unpaid compensation
  + stars: | 2023-01-19 | by ( Aditi Shah Arpan Chaturvedi | Aditi Shah | Arpan Chaturvedi | ) www.reuters.com   time to read: +3 min
GM and the factory workers - who allege illegal termination after the company decided to exit - have been locked in legal battles since 2021. The latest filing signals an escalation in the dispute as workers accuse GM's India unit and its executives, including CEO Mary Barra, of failing to follow court orders. In its earlier court filings, it has said the industrial court acted beyond its power in ordering the compensation. The union disagreed, and said GM continues to "blatantly violate" the industrial court's order by not paying the workers a single cent. After that, GM ceased all operations and moved to close the plant in Maharashtra, but it has not received permission.
☆ Wall Street wants updates on EVs and short-term guidance from GM's investor day
  + stars: | 2022-11-17 | by ( Michael Wayland | ) www.cnbc.com   time to read: +3 min
Mary Barra, Chair and CEO of the General Motors Company (GM), speaks during the Milken Institute Global Conference in Beverly Hills, California, on May 2, 2022. GM will look to address such concerns during an investor event, which kicks off at 1 p.m. Analyst are expected to press executives on updates to its previously announced plans, short-term guidance and potential macro-offsets in the years ahead, especially in 2023. "At the last Investor Day, GM promised ICE-like EV margins by 2030. The company also has plans for capacity of 1 million EVs in China by then as well.
☆ GM's plan to build 400,000 EVs in North America has been delayed by up to 6 months because it hasn't been able to make batteries fast enough
  + stars: | 2022-10-26 | by ( Stephen Jones | ) www.businessinsider.com   time to read: +3 min
GM has delayed a plan to build 400,000 EVs in North America. CEO Mary Barra said Tuesday the launch of battery production had been slower than expected. Barra told investors in February that GM planned to make 400,000 EVs in North America through 2023, per Automotive News. Barra wants GM to build one million electric vehicles in North America by 2025. GM plans to open a second next year, and another in 2024.
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