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Posts Tagged ‘gm news’

Barra Commits to 1M EVs on Global Roads by 2026

Cheaper batteries, demand from China pushing numbers.

by on Nov.15, 2017

GM CEO Mary Barra said the automaker will have 1 million EVs on roads around the world by 2026.

General Motors is following in the footsteps of former President Barak Obama by promising to build 1 million electric vehicles.

Obama’s vision wasn’t fulfilled, despite the $7,500 tax credit designed to make the cars more affordable and lure EV buyers to showrooms, but GM CEO Mary Barra told analysts at the Barclays 2017 Global Automotive Conference in New York, that GM will hit the target by 2026 on a global basis.

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Barra’s confidence stems from two things: a new family of EVs and a significant cost reduction on batteries.  (more…)

Ford, GM Set October Sales Records in China

General Motors on track for new full-year benchmark.

by on Nov.14, 2017

GM Executive Vice President and GM China President Matt Tsien said the automaker is tracking for a record sales year in China.

The Chinese subsidiaries of General Motors and Ford Motor Co. are on their way to recording sales increases in China this year after posting setting sales records in the world’s largest market for new vehicles during October.

GM and its joint ventures delivered an October-record 382,723 vehicles in China. Retail sales were up 11% year on year, marking the highest monthly sales growth in 2017.

Global Auto News!

Buick, Cadillac, Chevrolet and Baojun had their best ever October sales. SUVs remained the fastest-growing segment for GM, with sales surging 64% year over year. (more…)

GM Will Meet China EV Mandate Without NEV Credits in 2019

New E100 helping to pave way for other GM EVs coming in 2018.

by on Nov.13, 2017

GM is counting on this Baojun E100 electric vehicle to help it meet China's EV production mandates by 2019.

Automakers around the globe are scurrying to try to meet China’s tougher-than-comfortable standards for NEVs, or New Energy Vehicles; however, General Motors isn’t sweating the deadline as it will make the time frame, the company says.

Matt Tsien, GM China’s president, said the company will make the 2019 production goals without having to buy NEV credits from other makers. The difficult 2019 quotas have many automakers hustling to make deals with China-based automakers to increase production of EVs.

Global Auto News!

GM’s deals with SAIC and Wuling, have the company on track to “at least meet, if not exceed, those credit mandate requirements.” (more…)

Chevy Goes Big at SEMA Show With Luke Bryan’s Suburban

Custom ute focuses on Bryan's outdoors-oriented lifestyle.

by on Oct.31, 2017

Chevrolet customized a 2017 Chevy Suburban for country music star Luke Bryan.

It is “SEMA Week” in Las Vegas and Chevrolet has put together a display that features more than 20 concept and production vehicles, including a special edition of the ever-popular Chevrolet Suburban developed for country music star Luke Bryan.

Bryan introduced the Suburban, which includes a crate engine system and accessories that reflecting his “Huntin’, Fishin’ and Lovin’ Every Day” outlook.

Auto Show News!

“Chevy has been part of our family and a part of our work life on the farm for as long as I can remember,” said Bryan. “If you were a Bryan, you drove a Chevy — and I’m a longtime Suburban owner. (more…)

GM Net Goes $3b Into the Red for 3rd Quarter – But Still Beats Expectations

Bottom line hit hard by sale of Opel/Vauxhall subsidiary.

by on Oct.24, 2017

Despite a weak third quarter, analysts are showing appreciation for CEO Barra's strategy.

(This story was corrected to reflect the Q3 2017 EBIT-adjusted income for GM and the Wall Street forecast for the quarter.)

General Motors Co. posted a $2.98 billion loss for the third quarter of 2017, its net income hammered by a $5.4 billion charge resulting from the sale of its long-troubled European subsidiary Opel/Vauxhall.

Before taxes, GM actually earned $2.5 billion, a 32% decline from the $3.7 billion EBIT-adjusted number it reported during the July-September quarter in 2016. But Detroit’s automaker nonetheless managed to beat expectations, delivering per share earnings of $1.32 after factoring for one-time charges. Wall Street analysts had forecast earnings of $1.11 per share.

Financial News!

Excluding the hefty cost of exiting Europe, “The way to really think about the business is obviously continuing operations and the core business,” said GM Chief Financial Officer Chuck Stevens. Significantly, all of GM’s other operations – including North America, South America, China and other parts of the world — were profitable for the first time since the fourth quarter of 2014.

(more…)

GM Agrees to $120m Ignition Switch Scandal Settlement

Money going to 49 states and D.C.

by on Oct.20, 2017

One of the defective GM ignition switch units now blamed for causing at least 124 deaths.

General Motors has agreed to pay out $120 million to settle a lawsuit filed by 49 states and the District of Columbia over its handling of an ignition switch defect linked to at least 124 deaths and 275 injuries.

The problem was revealed in early 2014 and eventually led to the recall of 2.6 million vehicles and the firing of more than a dozen GM employees who either failed to act on early warning signs or attempted to sweep the problem under the carpet.

The Last Word!

“GM will continue ongoing improvements it’s made to ensure the safety of its vehicles,” a spokesman for the automaker said. That includes changes ordered by CEO Mary Barra after the problem was first revealed, as well as efforts that were agreed to as part of a settlement with the federal government in December 2015.

(more…)

Bigger is Better with Hydrogen Power, GM Concludes

Automaker’s fuel-cell efforts will target big SUVs, pickups, commercial and military vehicles.

by on Oct.18, 2017

SURUS was designed to form a foundation for a family of commercial vehicle solutions that leverages a single propulsion system integrated into a common chassis.

It’s been four decades since General Motors rolled out its first fuel-cell vehicle, a large van offering the room needed to haul around all the powertrain hardware and tanks full of hydrogen.

These days, all that technology has been downsized to the point where it can fit inside a compact car and leave plenty of room for passengers and cargo. But while some competitors – including Toyota, Hyundai and Honda – are focused on bringing to market small, hydrogen-powered passenger cars, GM is, in a sense, going back to its roots.

Beyond the Headlines!

The automaker is betting that it makes more sense to electrify small vehicles, like its Chevrolet Bolt EV and the roughly 20 other BEVs it plans to bring to market by 2023. When it comes to hydrogen, the head of its fuel-cell program sees the biggest opportunity for vehicles like large SUVs, full-size pickups and commercial and military vehicles. (more…)

Chevy Unveils Two Special Edition Colorados to Mark Truck Centennial

GM kicks off truck part at State Fair of Texas.

by on Oct.18, 2017

Chevrolet is marking 100 years of truck production with two new Colorado ZR2 special editions: Dusk and Midnight.

As Chevrolet celebrates a century of building trucks during the 2018 Model Year, it is expanding its midsize truck line-up with two new editions for the Colorado as it readies for the annual SEMA show in Las Vegas.

The 2018 Colorado ZR2 Midnight Edition features an all-black exterior finish, black Chevy bowtie emblems and 17-inch five-spoke black accessory wheels, including the spare. The ZR2 Midnight also features a black sport bar with off-road LED lighting and ZR2 logos on the sport-bar sail panels.

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The ZR2 Dusk Edition offers the same content as the ZR2 Midnight, but can be purchased in all other ZR2 exterior finishes, with black accents throughout. (more…)

GM, Cruise Get First Crack at NYC Autonomous Testing

They are the first to conduct Level 4 testing.

by on Oct.17, 2017

Cruise Automation introduced its third-gen automated vehicle. In addition to testing in San Francisco, they will also be part of the new New York City fleet.

General Motors and Cruise Automation continue their push for a leadership position in autonomous vehicle development, securing approval from the State of New York to begin Level 4 testing in the Empire State.

GM, which paid $1 billion for San Francisco-based Cruise in late 2016, will use a fleet of autonomous Chevy Bolts to conduct the real-world testing in Manhattan — the first company to gain approval to do so.

Plugging You In!

“Autonomous vehicles have the potential to save time and save lives, and we are proud to be working with GM and Cruise on the future of this exciting new technology,” said New York Governor Andrew Cuomo.  (more…)

Canadian Workers Ratify New Pact with GM

Longest strike in nearly two decades over.

by on Oct.16, 2017

The strike by Unifor workers at GM's plant in Ingersoll, Ontario, ended with a new four-year deal.

This story contains updated information.

Striking workers at the General Motors plant in Ingersoll, Ontario, have ratified a new four-year contract with the automaker, ending the longest walkout at a GM plant in nearly two decades.

Unifor Local 88 announced the results of the ratification vote Monday afternoon and said workers would begin returning to work begin immediately. The agreement was passed by 85.9% members and 78.7% of trades, the local said.

Union News!

“The ratification of a new four-year agreement between GM Canada and Unifor Local 88 at CAMI Assembly is welcome news for our company, employees and the community,” Steve Carlisle, president and managing director, General Motors Canada, in a statement. (more…)