Welcome to our dedicated page for General Motors Company news (Ticker: $GM), a resource for investors and traders seeking the latest updates and insights on General Motors Company stock.
General Motors Company (GM) is a global leader in the automotive industry, dedicated to designing, building, and selling some of the world's best vehicles. Operating under four segments—GM North America, GM International, Cruise, and GM Financial—the company has a diversified portfolio that includes renowned brands like Chevrolet, Buick, GMC, Cadillac, and Holden. GM's vision is built on delivering vehicles with compelling designs, flawless quality, reliability, leading safety features, and advanced infotainment options. This commitment extends across 140 countries, unifying a team of world-class employees.
Established in 2009 after emerging from the bankruptcy of its predecessor, General Motors Corp., GM has since streamlined its operations, now focusing on four primary brands in the U.S. The company regained its market share leader position in 2022, holding a 16.5% share in 2023. Innovations in autonomous vehicle technology are highlighted through GM's Cruise division, which aims to restart driverless AV robotaxi services in at least one city by 2024, after a temporary halt in 2023.
Financially, GM remains robust. In the first quarter of 2024, the company reported $43.0 billion in revenue and a net income of $3.0 billion. These results are attributed to GM's strategic investments in EV technology, including the Ultium battery platform, which powers an expanding range of electric vehicles from mass-market to high-performance models.
Recent achievements include GM Defense's successful completion of the 2023 UAE Armed Forces Summer Trials with their Infantry Squad Vehicle (ISV). This demonstrates GM Defense's capability to deliver advanced, reliable off-road vehicles for military use. Additionally, GM Ventures invested in Neural Propulsion Systems (NPS) to enhance radar technology for automotive and defense applications. GM's initiatives in EV technology are also noteworthy, with the introduction of GM Energy's vehicle-to-home (V2H) bidirectional charging technology, starting with the 2024 Chevrolet Silverado EV.
Strategic partnerships and investments continue to play a vital role in GM's growth. Collaborations with companies like NPS and Mistral Inc. reflect GM's commitment to advancing automotive and defense technologies. The company's diverse product offerings and continuous innovation ensure it remains at the forefront of the automotive industry.
General Motors (NYSE: GM) announced a new $6 billion share repurchase authorization. This follows a $10 billion accelerated share repurchase in November 2023, with $1.4 billion remaining under the prior authorization. GM repurchased $0.3 billion in shares in Q1 2024 and plans to exhaust the remaining $1.1 billion by Q2's end. Additionally, GM increased its common stock dividend by 33%, from $0.09 to $0.12 per share, in Q1 2024. The company continues to focus on the profitability of its ICE and EV businesses, while efficiently deploying capital to return cash to shareholders.
Bridgestone has been named as one of General Motors' top global suppliers of 2023, marking its ninth consecutive and 22nd overall recognition. This accolade highlights Bridgestone's performance, innovation, and alignment with GM's values, particularly in developing tire technologies for the 2024 Chevrolet Blazer EV and Police Pursuit vehicles.
Bridgestone was one of 86 suppliers honored out of GM's network of over 20,000. Noteworthy products include the Bridgestone Alenza A/S 02 and Firestone Firehawk Pursuit tires, engineered for all-season performance and high-speed pursuits, respectively. This recognition aligns with Bridgestone's E8 Commitment, focusing on ecology and extension.
Bridgestone's contributions underscore its role in advancing sustainable mobility solutions while supporting GM's ambitious goals for an all-electric future.
GM Defense and Mistral announced a strategic collaboration to enhance tactical capabilities with the integration of Mistral's Hero-120 loitering munition into GM Defense's light tactical utility vehicle. This vehicle, based on the Chevrolet Colorado ZR2, features commercial off-the-shelf parts and various seating configurations to meet diverse customer needs. The Hero-120 offers precision strike capabilities, targeting various threats while minimizing collateral damage. The collaboration aims to enhance mobility, speed, and lethality for modern forces. Initial demonstrations have been successful, showcasing the value of these integrated technologies.
FAQ
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