GM quarterly auto sales rise 17.6%
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UK EV sales reach record highs in best month ever
April 5, 2023 9:00 AM EDTThe Society of Motor Manufacturers and Traders (SMMT) released data Wednesday that showed new car registrations jumped to 287,825 units as supply chain challenges continued to ease, making the first quarter of 2023 the strongest three-month period since 2019. Battery electric vehicle (BEV) sales reached a record monthly high of 46,626, representing 18.6% year-on-year... More
GM cuts 5000 jobs in move that will save $1B
April 5, 2023 8:25 AM EDTGeneral Motors (NYSE: GM) announced Tuesday that around 5000 salaried workers took buyouts to leave the company as part of a cost cutting move that, according to CFO Paul Jacobson, will save the company $1 billion on an annual basis.
The voluntary buyouts cover 6% of GMs 81,000 white-collar employees and should allow the Detroit automaker to avoid involuntary dismissals, Jacobson said Tuesday. The cuts should... More
