DETROIT—General Motors is recalling more than 331,000 diesel pickup trucks in the United States for a second time because the engine block heater cords can short circuit and cause fires. The recall covers certain 2017 through 2019 Chevrolet Silverado and GMC Sierra 2500 and 3500 pickups with 6.6-liter diesel engines and optional engine block heaters….
GM Escalates the Electric Vehicle Arms Race
DETROIT—General Motors on Wednesday boosted its spending on electric and autonomous vehicles, pulled ahead plans for two U.S. battery plants and forecast stronger-than-expected second-quarter profits. The No. 1 U.S. automaker said it will now spend $35 billion through 2025 on electric vehicles, an increase of 75 percent from March 2020 before the COVID-19 pandemic shut…
GM Raises Forecast, Says Chip Shortage Not as Bad as Feared
DETROIT—General Motors Co. says efforts to manage the global computer chip shortage have worked better than expected, so its financial results will improve over previous forecasts. The company said in a statement Thursday it has made engineering changes, prioritized semiconductor use, and pulled some potential deliveries into the second quarter. So now the first-half earnings…
US Automakers Post Higher Quarterly Sales Even as Chip Shortage Bites
Automakers on Thursday reported a rebound in first-quarter U.S. sales from a coronavirus-induced slump last year, but volumes were capped by a global chip scarcity that forced many companies to cut production. The need for increased personal safety during the COVID-19 pandemic has boosted sales for automakers, as people prefer traveling by their own cars…
New South Wales Lifts Moratorium on GM Crops
New South Wales (NSW) is lifting its ban on genetically modified crops to deliver a multi-billion-dollar boost to its primary industry. Adopting the genetically modified (GM) technology is estimated by the government to deliver up to $4.8 billion in financial gains across New South Wales’ primary industries over the next ten years. Announcing the NSW government’s…
GM Looking to Build 2nd US Battery Factory, Tennessee Likely
DETROIT—General Motors says it’s looking for a site to build a second U.S. battery factory with joint venture partner LG Chem of Korea. The companies hope to have a decision on a site in the first half of the year, spokesman Dan Flores said Thursday. Flores would not say where the company is looking but…
General Motors Settles With California for $5.75M
SACRAMENTO, Calif.—General Motors Co. has agreed to a $5.75 million settlement with California regarding false statements the company made to investors about problems with its deadly ignition switches, state officials announced Friday. The faulty ignition switches led to at least 124 fatalities and 274 injuries nationwide. The defect also resulted in the recall of more…
GM 2020 Profit Drops, but It Makes $6.43 Billion Despite Pandemic
DETROIT—General Motors’ profit fell 4.5 percent in 2020, but a strong second half more than offset the effects of pandemic-related factory closures and a costly airbag recall. The Detroit automaker said Wednesday it made $6.43 billion as demand for its vehicles surged late in a year dominated by coronavirus upheaval. In the fourth quarter, the…
GM 2020 Profit Drops, but Makes $6.43 Billion Despite Pandemic
DETROIT—General Motors’ profit fell 4.5 percent in 2020, but a strong second half more than offset the effects of pandemic-related factory closures and a costly airbag recall. The Detroit automaker stated on Feb. 10 that it made $6.43 billion as demand for its vehicles surged late in a year dominated by coronavirus upheaval. In the…
GM Hit by Chip Shortage, to Cut Production at Four Plants
DETROIT—General Motors Co became the latest automaker hit by the global shortage of semiconductor chips as the U.S. automaker said on Feb. 3 it will take down production next week at four assembly plants. GM said it will cut production entirely during the week of Feb. 8 at plants in Fairfax, Kansas; Ingersoll, Ontario; and…
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