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US auto retreat from China quickens as Chinese brands go global
business11 days ago

US auto retreat from China quickens as Chinese brands go global

US automakers are accelerating their retreat from China as Chinese brands push abroad. Ford will end Lincoln production in China for export to the US and GM reportedly stops Chevrolet sales there, with both refocusing production in North America. Chinese automakers, aided by excess capacity and improving quality, are expanding globally, and the likely path into the US is via North American plants (potentially Mexico) rather than direct imports from China, amid tariff debates and Chinese tech restrictions under USMCA-era rules.

via Axios|
#automotive#business#china
GM inks up to $4.5B parts-prepayment deal to shore up supply chain
business13 days ago

GM inks up to $4.5B parts-prepayment deal to shore up supply chain

General Motors has struck a multibillion-dollar parts-prepayment deal with Procura Auto Parts to prepay suppliers for rare or critical components, financed by a JPMorgan Chase-led bank syndicate and repaid via IPUs by July 31, 2029. The arrangement keeps inventory off GM’s books and aims to secure future parts amid years of supply-chain disruptions; GM will pay interest, a premium on what’s used, and an annual fee on unused portions, but did not specify which parts are targeted (though semiconductors, rare earths and wire harnesses have been problematic in the past).

via CNBC|
#auto-parts#business#general-motors
Burt Reynolds’ Five Free Pontiac Trans Ams Ended When a New GM President Took Over
cars20 days ago

Burt Reynolds’ Five Free Pontiac Trans Ams Ended When a New GM President Took Over

The Smokey and the Bandit fame helped cement the Pontiac Trans Am’s iconic status. GM reportedly offered Burt Reynolds a brand-new Trans Am every year for the rest of his life after a call from the then-president. Over five years he received new Trans Ams (many given to family; he kept one), but in the sixth year the deal stopped when a new GM president—who admitted he didn’t like Reynolds’ movies—took charge and canceled the arrangement.

via supercarblondie.com|
#burt-reynolds#cars#general-motors
Alphabet's AI Spending Triggers Market Selloff and Investor Nerves
markets1 month ago

Alphabet's AI Spending Triggers Market Selloff and Investor Nerves

Alphabet's second-quarter AI spend surged to $44.9B and full-year capex guidance was raised to $195–$205B, driving free cash flow negative and a 7.1% stock drop—the worst day since May 2025—as investors fret about the cost of AI leadership; Tesla also suffered as AI-related spending climbed and earnings missed, while defense names like Lockheed Martin and RTX rose on strong demand and GM jumped after beating earnings and raising guidance, all amid higher oil, yields, and geopolitical risk.

via Detroit Free Press|
#ai-spending#alphabet#defense-stocks
GM lifts full-year targets after solid Q2 earnings
finance1 month ago

GM lifts full-year targets after solid Q2 earnings

GM beat Q2 expectations with revenue of about $48.0 billion and adjusted EPS of $3.57, prompting an upgrade to full-year guidance: adjusted EBIT of $14.0–$16.0 billion, adjusted EPS of $12.00–$14.00, and adjusted automotive free cash flow of $9.5–$11.5 billion. Tariff costs in Q2 were roughly $0.9 billion with similar exposure anticipated, while GM benefited from strong North American demand for pickups/SUVs and improved EV economics as it works through losses and supply-chain shifts. U.S. vehicle sales slipped about 4.2% year over year to roughly 715,000 in Q2, but GM maintained leadership in the US market and still sees an EV rebound on the horizon. The stock rose around 5% in midday trading.

via Yahoo Finance|
#earnings#evs#finance
GM bets on gas Cadillacs as EV push stalls
business1 month ago

GM bets on gas Cadillacs as EV push stalls

GM plans to roll out next-generation gas-powered Cadillacs (CT5, XT5, and the discontinued XT6) from spring 2025 through 2028, signaling a shift away from an all-electric Cadillacs lineup even as it keeps current EVs. The move comes amid about $10.9 billion in EV-related charges, slower EV adoption, and regulatory changes easing emissions standards. CEO Mary Barra also emphasized onshoring manufacturing and expanding full-size SUV production at a Michigan plant, while Cadillac will continue offering ICE models alongside its EVs.

via CNBC|
#business#cadillac#electric-vehicles
GM lifts full-year outlook after Q2 beat as tariffs ease and costs fall
company-earnings1 month ago

GM lifts full-year outlook after Q2 beat as tariffs ease and costs fall

GM beat Q2 expectations with revenue of $48.03B, adjusted EPS of $3.57 and adjusted EBIT of $3.94B, aided by cost cuts and tariff offsets, and raised full-year guidance to adjusted EBIT of $14.0–16.0B and adjusted EPS of $12.00–14.00 (auto free cash flow $9.5–11.5B). North America demand for pickups/SUVs remained solid (8.6% EBIT-adjusted margin in NA, up 2.5 points) while EV-related charges totaled about $4.5B in Q2 ($7.2B YTD). GM still sees EV losses improving by $1.0–$1.5B as credits and tariffs evolve, and while US vehicle volumes slipped about 4% to ~715k, the company held strong market positions in trucks and crossovers and maintained pricing discipline amid affordability headwinds.

via Yahoo Finance|
#company-earnings#earnings#general-motors
GM Eyes Q2 2026 Earnings as Tariff Relief Lifts Guidance
business1 month ago

GM Eyes Q2 2026 Earnings as Tariff Relief Lifts Guidance

General Motors is set to report its Q2 2026 results before the bell, with analysts expecting adjusted EPS of $3.20 on about $47.01 billion in revenue. The print would be roughly 26% higher in EPS year over year and 0.2% lower in revenue. GM will host an 8:30 a.m. ET conference call, while investors watch tariffs, pricing and DRAM costs; the automaker also raised its 2026 adjusted earnings guidance to $13.5–$15.5 billion (about $11.50–$13.50 per share).

via CNBC|
#business#dram#earnings
GM and Lockheed Team Up to Scale Defense Manufacturing
defense2 months ago

GM and Lockheed Team Up to Scale Defense Manufacturing

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.

via Breaking Defense|
#defense#defense-supply-chain#general-motors
GM and Lockheed join forces to turbocharge U.S. munition production
aerospace-and-defence2 months ago

GM and Lockheed join forces to turbocharge U.S. munition production

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.

via Financial Times|
#aerospace-and-defence#general-motors#lockheed-martin
Michigan axle plant walkout tests GM pickup supply chain
business2 months ago

Michigan axle plant walkout tests GM pickup supply chain

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.

via CNBC|
#auto-industry#business#general-motors
UAW Strike Hits GM Axle Supplier in Three Rivers
business2 months ago

UAW Strike Hits GM Axle Supplier in Three Rivers

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.

via The Detroit News|
#american-axle#business#general-motors
GM cuts hundreds of IT jobs worldwide in tech-organization reshuffle
business3 months ago

GM cuts hundreds of IT jobs worldwide in tech-organization reshuffle

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.

via Detroit Free Press|
#automotive-industry#business#general-motors