All articles tagged with #general motors
GM has replaced more than 1,000 workers with 50 collaborative robots at its Detroit Factory Zero EV plant, saying the cobots improve safety and keep operations flexible amid slowing EV demand and cost-cutting pressures; the move drew sharp backlash from the United Auto Workers, who call it a job-cutting measure, as GM reports solid profits.
Lockheed Martin and General Motors signed a memorandum to leverage GM’s manufacturing strength to boost weapons production, focusing on strengthening defense supply chains, advancing manufacturing, and expanding capacity through commercial expertise. The partners suggest GM could produce commonly used parts to help Lockheed scale munitions output and aim to triple/quadruple production rates for PAC-3 Missile Segment Enhancements and THAAD interceptors over the coming years, though specific product lines are still being determined. The pact follows a Defense Department push for non-traditional partners and aligns with existing investments: Lockheed’s $9 billion in facilities through 2030 and GM’s $7 billion capex plus $9 billion in R&D across both firms.
GM and Lockheed Martin have formed framework agreements—at the Pentagon’s request—to dramatically accelerate U.S. munition production, including nearly tripling Patriot interceptor output and quadrupling Thaad and Precision Strike Missile production over the next seven years, by leveraging GM’s high-rate manufacturing and digital tools; the partners have not announced specific projects and will invest billions in capital and R&D to bolster the defense industrial base and supply chains.
Nearly 1,000 workers at Dauch Corp.'s Three Rivers, Michigan axle plant—an essential GM pickup supplier—walked off the job after negotiations failed. The UAW cites wage restoration from the Great Recession and improvements to healthcare, retirement, and other benefits, noting wages had fallen to as low as $14.50 in 2008 and now top out around $22/hour. GM says it’s monitoring the strike and production at its plants remains normal, with Stellantis reporting no expected impact at this time.
Nearly 1,000 UAW-represented workers at American Axle/Dauch Corp.’s Three Rivers, Mich., plant walked off after contract talks stalled, launching an unfair-labor-practice strike that could affect GM axles for heavy-duty pickups. The union cites wage cuts taken in 2008 and seeks higher pay, profit sharing, better healthcare, retirement terms, and stronger job protections. GM is monitoring the disruption but reports no production impact yet. The company rebranded to Dauch Corp. earlier this year.
General Motors is laying off 500-600 IT workers globally, including in Michigan, as part of a reorganization to align the IT function with new skill requirements and reduce overlap. GM previously cut about 200 CAD engineers at its Warren tech center in Oct 2025, and says affected employees will be supported during the transition; Bloomberg was the first to report the layoffs.
General Motors will bring Google's Gemini AI assistant to about four million GM vehicles (2022 model year and newer Cadillacs, Chevrolets, Buicks, and GMCs with Google built-in) via over-the-air updates over several months, upgrading the current Google Assistant to a smarter, more conversational AI. US English starts, with plans for additional languages; GM notes this is one of Gemini’s largest deployments. GM also cited that its Super Cruise hands-free miles have surpassed one billion in nearly 750,000 vehicles.
GM is set to report Q1 2026 results before the bell, with analysts projecting $2.62 in adjusted EPS on $43.68 billion in revenue—a roughly 1% year-over-year revenue decline and a 5.8% drop in adjusted EPS—while investors await updates to 2026 guidance and any EV-related charges after last year’s $7.6 billion in write-downs, including guidance for net income of $10.3–$11.7 billion, adjusted EBIT of $13–$15 billion, and EPS of $11–$13 for the year.
Ford faced two recalls totaling 615,964 vehicles (604,533 for windshield-wiper motor across 2020–2022 Explorers, Escapes, Aviators and Corsairs; 11,431 for a driveshaft friction weld issue) that spooked investors, sending Ford (F) shares down more than 4% in Thursday trading. The recalls come amid renewed Ford–GM competition, including in Formula 1 marketing, while analysts maintain a Hold rating with an average target of $14.02 (about 13.8% upside), based on a mix of 3 Buys, 12 Holds and 1 Sell.
Ford and GM face an existential challenge as Chinese automakers and tech companies race ahead in electric and autonomous vehicles, aided by tariffs and fast product cycles; Western incumbents must accelerate software-enabled EVs or risk becoming niche gas-brand makers, with Ford pursuing a lower-cost midsize EV pickup and GM expanding its 12 EV models as BYD and other Chinese firms sharpen battery and software leadership.
Stellantis’ $25.9 billion one‑time charges tied to its EV push and warranty costs have led to a suspension of the 2026 dividend, underscoring how aggressive EV bets can strain cash flow; GM and Ford have weathered the period with differing stock paths. Moody’s downgraded Stellantis to Baa3, signaling higher borrowing costs and a longer, tougher turnaround even as the company projects about $7 billion in 2026 operating profit (up from $3 billion in 2025) and a hoped-for U.S. sales rebound. With the dividend in question, investors may reconsider Stellantis and look at stronger automakers like Ferrari or GM as potential alternatives until profitability and cash flow stabilize.
General Motors promotes Cadillac’s Formula 1 entry with a 30‑second Super Bowl spot that introduces the livery and the team's journey, weaving JFK’s 1962 moon-landing rhetoric with Apollo dialogue. Filmed in Death Valley and produced by Translation, the ad aims to position Cadillac as America’s new F1 team, signaling a milestone launch for GM’s F1 push.
More than 47,000 GM hourly workers will receive a $10,500 profit-sharing payout for 2025 under the UAW contract, a lower amount than in 2024, despite GM posting $12.7 billion in EBIT-adjusted earnings for the year and a $3.3 billion fourth-quarter loss.
General Motors is set to report Q4 2025 results with analysts forecasting about $2.20 in adjusted earnings per share on roughly $45.8 billion in revenue, a slight revenue dip year over year but higher adjusted EPS. The company will take around $7.1 billion in special charges tied to its EV pullback and China restructuring, which will affect reported net income but not adjusted results. GM has reaffirmed its 2026 guidance, aiming for adjusted EBIT of $12–$13 billion, adjusted EPS of $9.75–$10.50, and adjusted automotive free cash flow of $10–$11 billion, with 2026 expected to improve on 2025. The earnings call is scheduled for 8:30 a.m. EST.
Regulators are probing post-fix failures of GM’s 6.2L L87 V8, with 36 complaints after a recall remedy for 2021–2024 Silverado, Sierra, Escalade, Tahoe/Suburban, and Yukon models. The recall covered about 597,630 vehicles and cited rod-bearing sediment and out-of-spec crankshaft dimensions as root causes. The investigation seeks to determine whether the remedy was adequate, amid ongoing lawsuits and injuries tied to the issue.