DETROIT—Rising factory output led to strong U.S. sales at the end of last year, pushing General Motors’ fourth-quarter net income up 16 percent over the same period a year ago. The Detroit automaker made $1.99 billion from October through December, or an adjusted $2.12 per share, easily beating Wall Street per-share projections for $1.69, according…
GM Reclaims US Auto Sales Crown From Toyota
General Motors Co. reclaimed the top spot in U.S. auto sales from rival Toyota Motor Corp. in 2022 as it was able to better meet strong demand for cars and trucks despite industry-wide supply disruptions. Shares of GM rose 2.7 percent in afternoon trade on Wednesday to $34.75, after the company posted a 2.5 percent…
US Auto Sales to Fall in 2022, GM Set to Reclaim Top Spot From Toyota
U.S. new vehicle sales are expected to decline for major automakers in 2022 due to inventory shortages, which weighed on Asian brands more than the Detroit giants such as General Motors Co. and Ford Motor Co. Full-year U.S. auto sales are forecast to be about 13.9 million units, down 8 percent from 2021 and 20…
GM Recalls 740,000 US Trucks, SUVs Over Headlight Issue
WASHINGTON—General Motors said on Wednesday it is recalling 740,000 trucks and SUVs because daytime running lights may not deactivate when the headlights are on, potentially causing excess glare. The recall covers various Cadillac CT4 and CT5; Buick Envision; Cadillac Escalade and Escalade ESV, Chevrolet Silverado 1500, Suburban, Tahoe, GMC Sierra 1500, Yukon, and Yukon XL…
GM Recalls Over 825,000 Vehicles to Fix Daytime Running Lights
DETROIT—General Motors is recalling more than 825,000 SUVs and cars in the United States and Canada because the daytime running lights may not turn off when the headlights are on. The recall covers certain 2022 and 2023 Cadillac Escalade, Chevrolet Silverado 1500, Chevrolet Suburban and Tahoe, GMC Sierra 1500, and GMC Yukon SUVs. Also included…
US Finalizes $2.5 Billion Loan to GM, LG Battery Joint Venture
WASHINGTON—The U.S. Energy Department said on Monday it had finalized a $2.5 billion low-cost loan to a joint venture of General Motors Co. and LG Energy Solution to help pay for three new lithium-ion battery cell manufacturing facilities. Reuters first reported in July the planned loan to Ultium Cells LLC from the government’s Advanced Technology…
GM Recalls More Than 85,000 Vehicles in Canada Over Daytime Running Lamp Problem
Transport Canada issued a recall notice on Dec. 8 that could affect as many as 85,685 vehicles manufactured by General Motors (GM). They are among certain recent Buick, Cadillac, Chevrolet, and GMC models that could experience problems with their daytime running lamps (DRLs) staying on when the headlamps are on, creating a safety hazard. This…
GM, LG Joint Venture to Invest $275 Million in Tennessee Battery Cell Plant
WASHINGTON—General Motors Co. and LG Energy Solution Ltd said Friday they are investing another $275 million in their Tennessee joint venture battery cell plant to increase production by more than 40 percent. The new investment in the Ultium Cells Spring Hill plant will boost battery output from an annual capacity of 35 gigawatt-hours to 50…
GM’s Cruise Plans to Enter ‘A Large Number of Markets’ in 2023
DETROIT—Cruise, General Motors Co’s robotaxi unit, plans to enter a “large number of markets” and scale operations up to “thousands of vehicles” in 2023, Chief Operating Officer Gil West told Reuters. Cruise has announced plans to start offering rides in Austin and Phoenix, adding those cities to its current base in San Francisco. West said…
GM Recalls 340,000 Big SUVs; Daytime Running Lights Can Stay On
DETROIT—General Motors is recalling nearly 340,000 big SUVs in the U.S. because their daytime running lights may not shut off when the regular headlights are on. The National Highway Traffic Safety Administration says in documents posted on its website Thursday that having both lights on at the same time could cause glare for oncoming drivers,…
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