General Motors (GM) Tops Q3 EPS by 40c
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General Motors (GM) California DMV puts the brakes on GM's Cruise driverless cars over safety risk
October 25, 2023 11:12 AM EDTCalifornia issued an order to General Motors' (NYSE: GM) Cruise division Tuesday, demanding the removal of its autonomous vehicles from state roads.
The state referred to the vehicles as a potential threat to public safety and accused the company of misrepresenting information about the technology's safety.
The Department of Motor Vehicles (DMV) in California declared the suspension of Cruise's permit for autonomous vehicle deployment and driverless testing, effectively halting the company's testing of the vehicles without safety... More
GM and Honda (HMC) cancel plans to co-develop affordable EVs
October 25, 2023 8:08 AM EDTHonda Motor (NYSE: HMC) and General Motors (NYSE: GM) announced Wednesday the cancellation of their collaborative efforts to produce budget-friendly electric vehicles (EVs), as confirmed by the Japanese company. This development comes a year after their initial agreement to join forces in an attempt to surpass Tesla (NASDAQ: TSLA) in... More
GM 'moderating the acceleration of EV production', some EVs will be delayed says CEO Barra
October 24, 2023 9:19 AM EDTShares of General Motors (NYSE: GM) moved up nearly 1.30% before sinking 1.44% into the red in pre-market trading after the Detroit automaker reported its 3Q earnings results Tuesday morning, while in the midst of ongoing labor strikes by the United Auto Workers union.
The automaker reported a top line beat with adjusted earnings coming in at $2.28 versus the streets $1.88 estimate, while revenue came in at $44.1B, ahead of the consensus estimate of $42.62B.
"In the U.S., our strong sales, healthy ATPs (average... More
General Motors (GM) beats for Q3 but withdraws 2023 guidance amid ongoing strikes
October 24, 2023 6:49 AM EDTGeneral Motors (NYSE: GM) gained 1% in early trading Tuesday after topping third-quarter results but the auto giant withdrew 2023 guidance as UAW strike costs continued to mount.
Revenue in the quarter rose 5.4% to $44.131 billion, topping the consensus of $42.62 billion. Adjusted EPS was $2.28, easily beating the consensus... More
