Welcome to our dedicated page for General Motors news (Ticker: GM), a resource for investors and traders seeking the latest updates and insights on General Motors stock.
General Motors Company reports developments tied to its global auto business, including quarterly earnings, guidance, dividends, share repurchases, tariffs, and EV investment decisions. The company sells Buick, Cadillac, Chevrolet, and GMC cars, trucks, SUVs, and electric vehicles, with GM Financial serving as its captive finance arm.
Recurring updates also cover charging access through brand apps, dealer service-technician training, Cadillac brand and motorsports partnerships, and manufacturing or capacity changes related to vehicle demand and emissions policy. News commonly connects GM's product portfolio, capital allocation, and technology initiatives with conditions in the North American and international automotive markets.
General Motors Co. (NYSE: GM) reported strong first-quarter earnings with revenue at $32.5 billion and net income of $3.0 billion. The EBIT-adjusted figure reached $4.4 billion, reflecting a margin of 13.6%. Key factors included robust performance in North America and GM Financial, alongside recovery in China. Despite ongoing semiconductor shortages, GM remains confident in achieving guidance for full-year 2021, projecting net income between $6.8 billion and $7.6 billion. The company anticipates EPS diluted between $4.28 and $5.03.
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General Motors launched Ultium Charge 360, a comprehensive charging solution aimed at enhancing the EV ownership experience. This initiative integrates charging networks with GM mobile apps and provides home and public charging support. GM has partnered with seven major charging providers, targeting 2,700 fast chargers by 2025, with 500 expected to be operational by the end of 2021. The Ultium Platform promises ranges of up to 450 miles and supports the launch of 30 EV models globally by 2025, underscoring GM's commitment to an all-electric future.
Mapbox has launched Mapbox Dash, a customizable lane-level navigation system aimed at automakers. The system allows full control over navigation experiences, including map design and user interface, featuring lane guidance, live traffic updates, speed limit warnings, and voice integration. General Motors (GM) is the first to adopt this technology, rolling out its Maps+ application to about 900,000 vehicles starting April 30. Dash reduces application launch time significantly, enabling faster integration of vehicle-specific functionalities, all as a subscription service.
General Motors (GM) and LG Energy Solution are investing $2.3 billion to establish a new battery cell manufacturing plant in Spring Hill, Tennessee. The facility, spanning 2.8 million square feet, will create 1,300 new jobs and enhance GM's production capabilities for Ultium batteries, integral to its electric vehicle (EV) strategy. Construction is set to begin immediately, with the plant expected to open in late 2023. This partnership aims to solidify U.S.-based supply chains and support GM's transition to an all-electric future.
General Motors Co. (NYSE: GM) will announce its Q1 2021 financial results on May 5, 2021, at 7:30 a.m. ET, followed by a conference call at 10 a.m. ET.
Investors can access financial materials on the company's Investor Relations website. The call can be joined at 888-808-8618 for U.S. callers or +1-949-484-0645 for international callers. Key upcoming earnings release dates are Aug. 4, 2021, for Q2 and Oct. 27, 2021, for Q3.
General Motors Co. reported selling 642,250 vehicles in the U.S. in Q1 2021, a 4 percent increase year-over-year. Retail deliveries rose by 19 percent, while fleet sales dropped 35 percent. Cadillac led with a 43 percent increase in deliveries, and all brands saw double-digit growth. Despite a global semiconductor shortage, GM is optimizing production and expects strong demand to continue. The company ended Q1 with 334,628 units in inventory, down 76,247 from the previous quarter.
DETROIT, March 25, 2021 /PRNewswire/ -- General Motors (NYSE: GM) announces the addition of Meg Whitman and Mark Tatum to its Board of Directors. This expands GM's board to 13 members, emphasizing diversity with seven women. Whitman, former CEO of Hewlett-Packard and eBay, brings extensive tech and leadership experience, while Tatum, NBA Deputy Commissioner, offers insights into brand building and customer relations. GM's commitment to electric vehicles and carbon neutrality by 2040 aims to strengthen its market position and shareholder value.
General Motors Co. (GM) announced robust earnings for 2020, despite production challenges from COVID-19 and the Takata airbag recall. The company recorded a full-year income of $6.4 billion and an adjusted EBIT of $9.7 billion, with a diluted EPS of $4.33. For Q4, GM reported an income of $2.8 billion and an EBIT-adjusted margin of 9.9%. North America generated an EBIT-adjusted of $9.1 billion, while GM International posted a $(0.5) billion loss. Despite strong cash flow and profitable segments, challenges remain in international markets and Cruise operations.
General Motors (GM) has announced ambitious sustainability goals aiming for carbon neutrality across its global products and operations by 2040. The automaker also plans to eliminate tailpipe emissions from new light-duty vehicles by 2035 while committing to the Business Ambition Pledge for 1.5°C. GM is investing $27 billion over the next five years in electric and autonomous vehicles, significantly up from the previous $20 billion. Efforts will focus on renewable energy sourcing and building infrastructure to support electric vehicle adoption.