News | Latest Breaking News Stories & Headlines

General Motoros, the biggest US automaker by sales, said it expects the US tariff impact to worsen in the third quarter

Trump tariffs take a $1 billion bite out of GM earnings

General Motors' second-quarter core profit fell 32% to $3 billion today, as the car maker continued to confront challenging tariff policies, which it said sapped $1.1 billion from the results.

Business • 22 Jul

General Motors is moving to boost production of gas-powered vehicles amid slowing electric vehicle demand

GM to invest $4 billion in three US facilities

General Motors said it is planning to invest about $4 billion over the next two years at three US facilities in Michigan, Kansas and Tennessee as it moves to boost production of gas-powered vehicles amid slowing electric vehicle demand.

Business • 11 Jun

GM as pushed its investor call to Thursday as it wanted to wait before commenting on changes to tariff policy

GM pulls forecast due to tariffs as consumers rush to buy

General Motors has today pulled its annual forecast, reflecting the uncertain effects of US President Donald Trump's global trade war, even as it reported strong quarterly results.

Business • 29 Apr

GM to exit loss-making Cruise robotaxi business

General Motors said it will end robotaxi development at its majority-owned, money-losing Cruise business, a blow to the ambitions of the largest US car maker which had made the advanced technology unit a top priority.

Business • 11 Dec 24

Mary Barra, the chief executive of General Motors

GM says upbeat on full-year earnings

General Motors continued to defy Wall Street's expectations this year, posting third-quarter results ahead of analyst projections on the back of steady gasoline-engine truck and SUV sales and a focus on keeping inventories lean.

Business • 22 Oct 24

General Motors beats Q1 results targets, raises forecasts

General Motors has today posted quarterly results that topped Wall Street targets and raised its annual forecast, citing stable pricing and demand for its gas-engine vehicles, sending shares up 3.45% in pre-market trading.

Business • 23 Apr 24

GM shares jump as CEO promises shareholders more cash

General Motors shares jumped today after the company gave investors an upbeat outlook for 2024 and signaled more capital will be returned to shareholders.

Business • 30 Jan 24

Honda Motor and General Motors are scrapping a plan to jointly develop affordable electric vehicles, the two firms said today

Honda, GM scrap $5bn plan to co-develop cheaper EVs

Honda Motor and General Motors are scrapping a plan to jointly develop affordable electric vehicles (EVs), the companies said today, just a year after they agreed to work together in a $5 billion effort to try to beat Tesla in sales.

Business • 25 Oct 23

GM withdraws 2023 guidance as UAW strike costs soar

General Motors has today withdrawn its 2023 profit outlook, blaming the rising costs of United Auto Workers strikes.

Business • 24 Oct 23

Tesla shares fell 6.1% in premarket trading on Wall Street today

Telsa's demand warning sparks selloff in EV stocks

Elon Musk's warning that high interest rates could sap electric-vehicle demand knocked shares of the sector today, with some analysts questioning if Tesla can maintain the runaway growth that has for years set it apart from other automakers.

Business • 19 Oct 23

United Auto Workers picket outside Ford's Michigan Assembly Plant

US car workers set to resume bargaining talks

The United Auto Workers and Chrysler-parent Stellantis are to resume bargaining talks today as a strike against the Detroit Three automakers enters its fourth day.

Business • 18 Sep 23

It has pledged to end production of new petrol-powered vehicles by 2035.

General Motors invests $1bn in 4 US plants

General Motors is investing $918 million in four US plants for V-8 petrol engine production and electric vehicle components.

Business • 20 Jan 23

Ford said that inflation-related costs would be $1 billion more than expected in the current quarter

Ford shares see biggest daily drop since 2011

Ford Motor's stock tumbled over 12% yesterday in its deepest one-day decline in over a decade after the automaker said inflation-related costs would be $1 billion more than expected in the current quarter and that parts shortages had delayed deliveries.

Business • 21 Sep 22

Toyota sold 2.332 million vehicles in the US last year, compared with 2.218 million for General Motors

Toyota dethrones GM as US sales leader

Japanese automaker Toyota outsold General Motors in the US in 2021, marking the first time the Detroit automaker has not led US car sales for a full year since 1931.

Business • 05 Jan 22

GM plans to cut production at eight North American assembly plants in September

GM to cut North American production, citing shortages

General Motors will reduce production at most North American assembly plants this month because of the ongoing semiconductor chip shortage, hitting its profitable truck and sport utility vehicles.

Business • 03 Sep 21

A global semiconductor chip shortage has closed some of General Motor's plants

GM's first quarter profit jumps despite chip shortage

General Motors has today posted far stronger than expected first-quarter profit despite a global semiconductor chip shortage as it held down costs and focused on high-margin pickup trucks and SUVs.

Business • 05 May 21

GM cites chip shortage for weaker 2021 outlook

General Motors has reported a higher than expected fourth-quarter profit on strong demand for trucks and SUVs during the Covid-19 pandemic but forecast weaker than expected 2021 results citing a shortage of chips used in car production.

Business • 10 Feb 21

GM plans to build electric delivery vans

General Motors has unveiled plans to build electric vans under the new BrightDrop brand, in a move aimed at creating a new ecosystem for delivery of goods.

Business • 13 Jan 21

Tesla's shares recorded their worst single-day percentage drop ever yesterday

Tesla loses more than combined GM, Ford market value

Tesla shed about $80 billion of its market value on Wall Street last night, an amount that overshadows the combined value of General Motors and Ford after its surprise exclusion from the S&P 500 index.

Business • 09 Sep 20

US President Donald Trump to getting US companies to produce essential gear needed to fight the Covid-19 pandemic

GM to supply 30,000 ventilators in $500m US contract

The US has awarded automaker General Motors a contract worth $489.4m to make ventilators needed to treat severely sick coronavirus patients.

Business • 08 Apr 20

GM said a 40 day strike in the US would cost it around $3 billion in profits

GM earnings beat expectations but strike hits outlook

General Motors has today cuts its earnings forecast for 2019, saying that a 40-day US strike by the United Auto Workers union that brought virtually all of its North American operations to a standstill would cost it around $3 billion in profits this year.

Business • 29 Oct 19

Donald Trump has threatened to eliminate subsidies for General Motors in retaliation for its recently announced job cuts

Trump threatens to cut GM subsidies after job cuts

US President Donald Trump has threatened to eliminate subsidies for General Motors in retaliation for the automaker cutting US jobs and plants.

Business • 28 Nov 18

This marks the biggest restructuring by General Motors in North America since its bankruptcy a decade ago

General Motors to cut workforce by 15%

General Motors has confirmed that it's cutting 15% of its workforce to save $6 billion.

Business • 26 Nov 18

The late Sergio Marchionne spent 14 years at the wheel of Fiat Chrysler, the group he built

Marchionne - the Fiat Chrysler boss who fixed things

Sergio Marchionne was one of the car industry's most demanding and tenacious chief executives and he rescued Fiat and Chrysler, two of its most storied brands.

Business • 25 Jul 18

PSA Group chief executive Carlos Tavares

Peugeot surges as Opel hits road to recovery

Peugeot maker PSA Group turned its recently acquired Opel-Vauxhall business sharply back into the black while achieving record first-half profitability at its French car brands.

Business • 24 Jul 18