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 announced a $71 million investment in two manufacturing plants in Ohio: $39 million for the Toledo transmission plant and $32 million for the Defiance casting plant. This initiative will preserve 240 manufacturing jobs and enhance production capabilities, specifically for GM's eight-speed rear-wheel-drive transmission and future engine components. Since 2009, GM has invested over $3.3 billion in Ohio, supporting local employment and solidifying its manufacturing footprint.
General Motors has successfully delivered its 30,000th V+Pro critical care ventilator to the U.S. Department of Health and Human Services as part of its collaboration with Ventec Life Systems to combat COVID-19. This effort saw production ramp up from an initial phone call to a completed federal order in just 154 days, averaging one ventilator every seven minutes. Ventec will now take over the manufacturing operations in Kokomo and Bothell, maintaining production capacity as needed amidst ongoing demand during the pandemic.
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General Motors announced the appointment of John Stapleton as the acting global chief financial officer, effective August 15, following the resignation of Dhivya Suryadevara. This leadership change comes as GM seeks to strengthen its financial position. Suryadevara played a crucial role in enhancing GM’s balance sheet and cost structure during her tenure. Stapleton, with a long history at GM since 1990, will oversee the financial strategies while the company searches for a permanent CFO.
General Motors Co. (NYSE: GM) reported its second-quarter 2020 earnings, revealing a diluted EPS of $(0.56) and revenue of $16.8 billion despite challenges from the COVID-19 pandemic. Adjusted EBIT was at $(0.5) billion, with automotive liquidity standing at $30.6 billion. Notably, GM's North America EBIT-adjusted approached breakeven at $(0.1) billion. The results underline GM's efforts over recent years to enhance business resiliency, reflecting a commitment to navigate through market disruptions effectively.
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General Motors Co. (NYSE: GM) will report its Q2 2020 financial results on July 29, 2020, at 8 a.m. EDT. A press release and presentation materials will be available on its Investor Relations website. The company will also host a conference call for analysts at 10 a.m. EDT on the same day, with call-in numbers for participants. Future earnings announcements are scheduled for Q3 2020 on Nov. 5 and Q4 2020 on Feb. 10, 2021.
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