General Motors Co

General Motors reports strong first-quarter profits as prices help offset small US sales dip

Despite a small dip in U.S. vehicle sales, General Motors’ first-quarter net income rose more than 25% on strong deliveries of pickup trucks and other higher-profit vehicles.

General Motors CEO Mary Barra addresses a news conference, Monday, April 15, 2024 in Detroit. GM plans to move its iconic Detroit headquarters to a new downtown office tower and redevelop its home office site. In addition, Bedrock, which owns multiple office buildings downtown, will join GM in studying redevelopment of the seven-building Renaissance Center now owned by GM. The new building is on the site of the old Hudson's department store in the heart of downtown. (AP Photo/Carlos Osorio)

General Motors will move Detroit HQ to a new downtown building

The 2024 Chevrolet Blazer EV sits on display at the Chicago Auto Show, Thursday, Feb. 9, 2023, in Chicago. General Motors said Friday, March 8, 2024, that it is resuming sales of its electric Chevrolet Blazer after software issues forced the automaker to halt sales in December. (AP Photo/Charles Rex Arbogast)

GM to resume sales of Chevy Blazer EV after software issues prompted a stop sale late last year

FILE - Cruise AV, General Motor's autonomous electric Bolt EV, is seen on Jan. 16, 2019, in Detroit. Cruise, the troubled General Motors autonomous vehicle unit, has hired Steve Kenner, a veteran automotive and technology company safety official, for the critical position of chief safety officer. Kenner started the job on Monday, Feb. 12, 2024. (AP Photo/Paul Sancya, File)

GM’s Cruise robotaxi unit hires veteran Ford and Apple official to be its safety chief after crash

(AP Illustration/Jenni Sohn)

Mobileye CEO Shashua expects more autonomous vehicles on the road in 2 years as tech moves ahead

Fresh off bargaining with Detroit 3, UAW’s Fain looks to expand membership to nonunion carmakers

United Auto Workers President Shawn Fain says in an Associated Press interview that he wants to gain UAW membership in nonunion companies across the car industry (Nov. 21)(AP video: Mike Householder)

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General Motors reaches tentative contract agreement with UAW, potentially ending strike

Some striking autoworkers carried family legacies, Black middle-class future along with picket signs

UAW reaches a deal with Ford, a breakthrough toward ending the strikes against the Detroit carmakers

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Former Tesla exec Kelty joins General Motors in newly created role of vice president of batteries

General Motors has hired a former Tesla executive, Kurt Kelty, to serve in the newly created role of vice president of batteries as the automaker continues to work on its electric vehicle strategy.

FILE - Michael Andretti, left, and his father, Mario Andretti, pose for a photo following a news conference at Texas Motor Speedway in Fort Worth, Texas, June 7, 2013. Formula One has rejected Andretti Global's application to join the global racing series in 2025 or 2026 but said Wednesday, Jan. 31, 2024, it is willing to revisit the issue in 2028 when General Motors has an engine ready for competition.(AP Photo/Tim Sharp, File)

Formula One’s invitation for in-person meeting with Andretti Cadillac went to a spam email folder

Formula One’s invitation to Andretti Cadillac for an in-person meeting about its application to join the motorsports series wound up in an email span folder.

General Motors, Nucor rise; Whirlpool, UPS fall, Tuesday, 1/30/2024

Stocks that traded heavily or had substantial price changes on Tuesday: General Motors, Nucor rise; Whirlpool, UPS fall.

File - Assembly line worker Janice DeBono looks over a 2023 Chevrolet Bolt EUV at the General Motors Orion Assembly, June 15, 2023, in Lake Orion, Mich. General Motors reports earnings on Jan. 30, 2024. (AP Photo/Carlos Osorio, File)

GM made $10B last year despite autoworkers strike, says it will bring back plug-in hybrids to US

General Motors’ net income rose 12% last year despite losing more than $1 billion when many of its plants were shut down by a six-week autoworkers’ strike.

A currency trader passes by the screens showing the Korea Composite Stock Price Index (KOSPI), center, and the foreign exchange rate between U.S. dollar and South Korean won, right, at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul, South Korea, Wednesday, Jan. 31, 2024. Asian stocks mostly declined Wednesday as markets awaited a decision on interest rates by the Federal Reserve, while China reported manufacturing contracted in January for a fourth straight month.(AP Photo/Ahn Young-joon)

Stock market today: Asia markets weaker ahead of Fed decision; China economic data disappoint

Asian stocks are mostly lower as markets await a decision on interest rates by the Federal Reserve. China’s factory activity figures showed manufacturing contracting for a fourth straight month though they improved slightly.

FILE - Associated Press reporter Michael Liedtke sits in the back of a Cruise driverless taxi that picked him up in San Francisco's Mission District, Feb. 15, 2023. General Motors is facing a U.S. Justice Department investigation into a gruesome collision involving a robotaxi operated by GM's Cruise subsidiary that critically injured a pedestrian and derailed its self-driving car ambitions, potentially worsening an already severe backlash. (AP Photo/Terry Chea, File)

GM’s Cruise robotaxi service targeted in Justice Department inquiry into San Francisco collision

General Motors is facing a U.S. Justice Department investigation into a gruesome collision that critically injured a pedestrian and derailed its self-driving car ambitions.

FILE - In this Jan. 16, 2019, file photo, Cruise AV, General Motor's autonomous electric Bolt EV is displayed in Detroit. Several key leaders are no longer with General Motors’ Cruise amid an ongoing investigation into an October accident involving one of its driverless cars, the robotaxi service confirmed late Wednesday, Dec. 13, 2023. Cruise said that nine individuals departed following an initial analysis of the October 2 incident — when a Cruise robotaxi ran over a pedestrian who had been hit by another human-driven car in San Francisco — and the company’s response. (AP Photo/Paul Sancya, File)

GM’s Cruise robotaxi unit lays off 900 workers with investigation into San Francisco crash ongoing

General Motors’ troubled Cruise autonomous vehicle unit is cutting over 900 jobs as it moves to reduce costs and remake itself after a series of safety problems in San Francisco.

FILE - The Ultium Cell factory in Warren, Ohio, is shown, Friday, July 7, 2023. General Motors is losing money on every electric vehicle it sells, but the company says it's on track to generate mid single-digit pretax profit margins in 2025 as it produces more higher margin EVs, works out kinks in battery manufacturing and sees battery cost reductions. Specificically, the company has had trouble with machinery that stacks battery cells into modules at its Ultium Cells battery plant near Warren, Ohio, a joint venture with LG Energy Solution of Korea. (AP Photo/Gene J. Puskar, File)

GM believes it will start making money on electric vehicles in 2025 as higher margin models arrive

General Motors is losing money on every electric vehicle it sells, but the company says it’s on track to generate mid single-digit pretax profit margins in 2025 as it produces more higher margin EVs, works out kinks in battery manufacturing and sees battery cost reductions.

Business Highlights: US growth rate upgraded; GM says it can handle rising labor costs

Business Highlights: A summary of the day’s top stories in the business world.

How major US stock indexes fared Wednesday, 11/29/2023

Stocks drifted to a mixed close on Wall Street as drops in several Big Tech companies offset gains in other parts of the market.

General Motors, NetApp rise; Petco, Hormel Foods fall, Wednesday, 11/29/2023

Stocks that traded heavily or had substantial price changes Wednesday: General Motors, NetApp rise; Petco, Hormel Foods fall.

General Motors, NetApp rise; Petco, Hormel Foods fall, Wednesday, 11/29/2023

Stocks that are trading heavily or have substantial price changes Wednesday: General Motors, NetApp rise; Petco, Hormel Foods fall.

FILE - United Auto Workers members join the picket line, in Detroit, Friday, Sept. 15, 2023. General Motors says pretax earnings took a $1.1 billion hit this year from a six-week strike by autoworkers, but the company expects to absorb the costs of a new contract and is even raising its dividend. The Detroit automaker on Wednesday, Nov. 29, 2023 reinstated its full-year earnings forecast that was withdrawn after the United Auto Workers began targeting the factories of Detroit automakers with strikes on Sept. 15. (AP Photo/Paul Sancya, File)

GM says it can handle rising labor costs as it announces huge share buyback and dividend increase

Clearly frustrated with its languishing share price, General Motors is announcing a massive stock buyback plan, raised its dividend and told investors it can absorb increased labor costs from a six-week autoworkers strike.

Vogt resigns as CEO of Cruise following safety questions, recalls of self-driving vehicles

Kyle Vogt has resigned as CEO of Cruise, General Motors’ autonomous vehicle unit. His decision to step down, announced late Sunday, follows a recall of all 950 Cruise vehicles to update software after one dragged a pedestrian to the side of a San Francisco street in early October.

File - UAW local 862 members strike outside of Ford's Kentucky Truck Plant in Louisville, Ky. on Oct. 12, 2023. (Michael Clevenger/Courier Journal via AP, File)

Ford and Stellantis workers join those at GM in approving contract settlement that ended UAW strikes

The United Auto Workers union has overwhelmingly ratified a new contract with Ford and Stellantis, a pact that, along with similar deals with General Motors, will raise pay across the industry.

File - Dan Back, a United Auto Workers Local 12 member, pickets during the ongoing UAW strike at the Stellantis Toledo Assembly Complex on Thursday, Oct. 26, 2023, in Toledo, Ohio. Members of the United Auto Workers union moved closer to approving a contract agreement with Stellantis on Friday, Nov. 17, as two large factories in Detroit voted overwhelmingly for the deal. (Kurt Steiss/The Blade via AP, File)

Union workers at Stellantis and Ford close to ratifying deals that would end lengthy labor disputes

Members of the United Auto Workers union were close to approving contract agreements with Stellantis and Ford on Friday with voting at both companies overwhelmingly in favor.

Business Highlights: Workers approve contract with GM; Starbucks staff strikes on busy Red Cup Day

Business Highlights: A summary of the day’s top stories in the business world.

FILE - United Auto Workers members hold picket signs near a General Motors assembly plant in Delta Township, Mich., Sept. 29, 2023. About 46,000 United Auto Workers at GM are expected to wrap up voting on a tentative contract agreement in a close race that will decide the fate of the deal that ended a six-week strike. The union is expected to announce GM results Thursday evening. (AP Photo/Paul Sancya, File)

General Motors becomes 1st of Detroit automakers to seal deal with unionized workers

United Auto Workers union members have voted to approve a new contract with General Motors, making the company the first Detroit automaker to get a ratified deal that could end a contentious and lengthy labor dispute.

FILE - United Auto Workers members walk in the Labor Day parade in Detroit, Sept. 2, 2019. The tentative contract agreement between General Motors and the United Auto Workers union appears to be headed for defeat. The union hasn’t posted final vote totals yet, but workers at five large factories who finished voting in the past few days have turned down the four year and eight month deal by fairly large margins. (AP Photo/Paul Sancya, File)

Vote on tentative contract with General Motors too close to call as more tallies are reported

Voting on the tentative contract agreement between General Motors and the United Auto Workers union appears to be too close to call as tallies at more factories were announced.

This artists rendering is provided by General Motors. General Motors has registered with Formula One’s governing body to become an engine supplier starting in 2028 in what is seen as a huge boost to Michael Andretti’s bid to join the global motorsports series. The announcement comes ahead of this weekend’s Las Vegas Grand Prix, where three senior GM executives plan to be in attendance to help push Andretti Global’s bid forward with F1. (General Motors via AP)

Andretti’s F1 effort boosted by General Motors plan to supply engines starting in 2028

General Motors has registered with Formula One’s governing body to become an engine supplier starting in 2028 in what is seen as a huge boost to Michael Andretti’s bid to join the global motorsports series.

Michael Andretti, left, listens as McLaren CEO Zak Brown speaks in the paddock ahead of the Formula One U.S. Grand Prix auto race at Circuit of the Americas, Friday, Oct. 20, 2023, in Austin, Texas. (AP Photo/Darron Cummings)

General Motors tells AP it is only interested in entering Formula One with Andretti Global

General Motors will not break its partnership with Andretti Global to enter Formula One and is not interested in considering other teams to partner with to gain entry to the global motorsports series.

GM, Stellantis among group investing $33M in company that makes magnets without rare earth metals

The venture capital arms of General Motors and Stellantis are among investors sinking $33 million into a Minnesota company with technology to make magnets for electric vehicle motors without using expensive rare-earth metals.

File - UAW local 862 members strike outside of Ford's Kentucky Truck Plant in Louisville, Ky. on Oct. 12, 2023. In each new contract between the United Auto Workers union and General Motors, Ford and Stellantis, parts of the companies' secret long-term plans for new vehicles are exposed. (Michael Clevenger/Courier Journal via AP, File)

New vehicles from Detroit’s automakers are planned in contracts that ended UAW strikes

Stellantis plans to build a new midsize pickup truck, along with battery-run versions of six Jeep, Ram and Dodge vehicles.

File -A Ford Bronco is displayed at a Gus Machado Ford dealership on Jan. 23, 2023, in Hialeah, Fla. New union agreements with Detroit automakers reached during the past week will cost Ford, Stellantis and General Motors over $1 billion per year by the time they take effect in four years. (AP Photo/Marta Lavandier, File)

Auto strike settlements will raise costs for Detroit’s Big 3. Will they be able to raise prices?

From generous pay and benefits to stronger job security, the United Auto Workers union won significant concessions in tentative settlements that have ended their strikes against Detroit’s automakers.

Business Highlights: UAW announces deal with GM; resilient US consumers

Business Highlights: A summary of the day’s top stories in the business world.

FILE - United Auto Workers signs for a strike are shown at the Stellantis Sterling Heights Assembly Plant, in Sterling Heights, Mich., Monday, Oct. 23, 2023. Jeep maker Stellantis has reached a tentative contract agreement with the United Auto Workers union that follows a template set earlier this week by Ford, two people with knowledge of the negotiations said Saturday, Oct. 28, 2023. (AP Photo/Paul Sancya, File)

UAW reaches deal with General Motors that ends strikes against Detroit automakers pending votes

The United Auto Workers union says it reached a tentative contract with General Motors, the last of the Detroit Three automakers to agree to a deal.

FILE - United Auto Workers signs for a strike are shown at the Stellantis Sterling Heights Assembly Plant, in Sterling Heights, Mich., Monday, Oct. 23, 2023. Jeep maker Stellantis has reached a tentative contract agreement with the United Auto Workers union that follows a template set earlier this week by Ford, two people with knowledge of the negotiations said Saturday, Oct. 28, 2023. (AP Photo/Paul Sancya, File)

UAW escalates strike against lone holdout GM after landing tentative pacts with Stellantis and Ford

The United Auto Workers union has widened its strike against General Motors, the lone holdout among the three Detroit automakers, after reaching a tentative contract agreement with Jeep maker Stellantis.

FILE - United Auto Workers members walk the picket line during a strike at the Stellantis Sterling Heights Assembly Plant, in Sterling Heights, Mich., Monday, Oct. 23, 2023. Jeep maker Stellantis has reached a tentative contract agreement with the United Auto Workers union that follows a template set earlier this week by Ford, two people with knowledge of the negotiations said Saturday, Oct. 28, 2023. (AP Photo/Paul Sancya, File)

UAW and Stellantis reach tentative contract deal as union adds strike at Tennessee GM factory

Jeep maker Stellantis reached a tentative contract agreement with the United Auto Workers union on Saturday as it escalated strikes against General Motors by adding a plant in Tennessee.

FILE - In this Jan. 16, 2019, file photo, Cruise AV, General Motor's autonomous electric Bolt EV is displayed in Detroit. General Motors’ Cruise says it's suspending its driverless operations nationwide as the robotaxi service works to rebuild public trust. The announcement, Friday, Oct. 27, 2023, arrives just days after California regulators revoked Cruise’s license — after determining that its driverless cars, which recently began transporting passengers throughout San Francisco, posed dangers to public safety. (AP Photo/Paul Sancya, File)

General Motors’ robotaxi service suspends driverless operations nationwide regulators

General Motors’ Cruise says it’s suspending its driverless operations nationwide as the robotaxi service works to rebuild public trust.

Business Highlights: GM and Stellantis in talks with the UAW; US growth accelerated last quarter

Business Highlights: A summary of the day’s top stories in the business world.