Tag: $General Motors

General Motors raised its 2026 guidance after significantly beating Wall Street’s first-quarter earnings expectations following a roughly $500 million benefit from the U.S. Supreme Court decision to terminate and refund certain levies paid under President Donald Trump’s tariffs.

General Motors (GM) raised its profit outlook for ‌2026 as it reported higher fourth-quarter core profit on Tuesday on robust sales of its large pickup trucks and SUVs, sending shares of the Detroit automaker up 4% in premarket trading.

General Motors said Thursday it will record $7.1 billion in special charges for the fourth quarter of last year related to its pullback in electric vehicles and restructuring efforts in China.

General Motors (GM.N), lifted its financial outlook for the year and slightly lowered its expected hit from tariffs, as the automaker awaits expected relief on tariffs in the U.S. while confronting a weakening market for electric vehicles.

General Motors Co. on Tuesday reported adjusted second-quarter profit that rose above expectations, even as it faced $1.1 billion in tariff costs.

It’s been an interesting week for General Motors (GM)-3.62%. It has culminated with a guidance cut that sent shares higher early Thursday

General Motors beat Wall Street’s first-quarter expectations but is reassessing its 2025 financial guidance and suspending any additional stock buybacks amid expected cost increases and industry uncertainty regarding Donald Trump’s ongoing auto tariffs.

General Motors said on Wednesday it would increase its quarterly dividend by 25% and undertake a new $6 billion share buyback program to return excess cash and increase shareholder value.

General Motors on Tuesday posted fourth-quarter 2024 results and a 2025 earnings forecast ahead of Wall Street expectations as the U.S. automaker continued to see strong consumer demand for its pricey gasoline-powered trucks and SUVs.

The U.S. National Highway Traffic Safety Administration said on Friday it was opening a preliminary probe into 877,710 vehicles manufactured by General Motors  after receiving reports alleging engine failure.

General Motors is restructuring Cruise, its self-driving-taxi company, in what amounts to an exit from the robotaxi business and a refocusing on improving driver- assistance technologies for everyday people.

General Motors said it expects to incur more than $5 billion in impairment charges and write-downs in the fourth quarter because of weakness in its China business.

Automaker plans to sell its stake to joint-venture partner LG Energy, the latest pullback in its electric-car investments

The National Highway Traffic Safety Administration said on Tuesday that General Motors is recalling about 132,037 trucks due to concerns about tailgates unlatching unexpectedly.

General Motors easily outperformed Wall Street’s third-quarter earnings expectations, leading the Detroit automaker in raising key guidance targets for 2024.

Canadian miner Lithium Americas said on Wednesday General Motors will contribute $625 million to their new joint venture for developing the Thacker Pass project in Nevada.

General Motors CEO Mary Barra sought to soothe shareholder worries that lagging demand for electric vehicles and perceived peak demand for gasoline-powered trucks will create a rough road ahead for the automaker.

General Motors and Hyundai Motor have entered into an agreement to explore “future collaboration across key strategic areas” in an effort to reduce capital spending and increase efficiencies, the companies announced Thursday.

 Israeli battery technology company Addionics has raised $39 million from investors including General Motors’ venture capital arm to help commercialise its copper and aluminium electrodes for electric vehicle batteries, it said on Thursday.

General Motors is raising several key financial targets for 2024 after easily beating Wall Street’s earnings expectations for the second quarter, while it restructures money-losing operations such as autonomous vehicles and its China business.