|Bid||27.48 x 900|
|Ask||27.46 x 1000|
|Day's range||26.91 - 28.83|
|52-week range||14.33 - 41.90|
|Beta (5Y monthly)||1.39|
|PE ratio (TTM)||8.43|
|Earnings date||29 Jul 2020|
|Forward dividend & yield||N/A (N/A)|
|Ex-dividend date||05 Mar 2020|
|1y target est||34.18|
What happened Shares of several global automakers were rising on Tuesday, as auto factories around the world continued to ramp up after shutting down in March amid the COVID-19 pandemic. Here's where things stood for these three companies' stocks as of 2:30 p.
The Detroit automaker, which resumed production on Monday after suspending operations in March because of the coronavirus pandemic, will launch a second shift next week only at its Lansing Delta Township plant. It will not immediately begin, as it had hoped, second shifts on Monday at its Ft Wayne, Indiana, Flint and Silao, Mexico plants that build full-size trucks, but could resume a second shift as early as later next week, the source said. GM spokesman Dan Flores said "demand for our full size picks has been very strong so we are certainly exploring ways to add production and will do that when it makes sense."
General Motors' (NYSE: GM) plan to ramp up production of high-profit pickups has hit a snag: Short supplies of key parts from Mexico. GM, along with the other Detroit automakers, restarted some of its U.S. assembly plants on Monday. GM restarted its pickup factories in Fort Wayne, Indiana, and Flint, Michigan, with just one shift of workers at each plant as it worked through new safety procedures.
General Motors Co said on Thursday it was gradually restarting the transmission and motor lines at its Mexican facilities in Silao and Ramos Arizpe, while U.S. auto parts maker Lear Corp also geared up for production. GM Mexico said the assembly plants at Ramos Arizpe in the northern state of Coahuila, and Silao in the central state of Guanajuato, could restart operations on Friday depending on suppliers, and that it was assessing when to reopen plants in the central state of San Luis Potosi, and in Toluca, near Mexico City. The steps to restart production are welcome news for the North American auto sector, with supply lines highly interconnected among the United States, Mexico and Canada.
General Motors announced Thursday that it is “gradually restarting operations” at engine and transmission plants at two of its four manufacturing complexes in Mexico. The news came as Mexico recorded its second highest one-day death toll in the coronavirus pandemic, with 420 deaths reported Thursday, slightly less than the 424 reported Wednesday. Confirmed cases rose by just under 3,000 to 59,567, though experts say the actual number is probably several times higher because Mexico performs so little testing.
Tesla pushed local officials to reopen; now a Ford plant restart highlights the struggles manufacturers will have to address as production resumes.
Jerry Bill is worried the novel coronavirus could hurt business at the Des Moines auto dealership he runs, but not because of a shortage of buyers for the big Ram pickups on his lot. "Our biggest issue will be if we don't get more inventory," said Bill, general sales manager of Stew Hansen Chrysler Dodge Jeep Ram, which sells around 2,700 new vehicles a year in Urbandale, a suburb of Iowa's capital Des Moines. After a drop in sales in April when consumers stayed home, Bill expects pickup truck sales to end May similar to where they were a year earlier.
General Motors (GM) aims to roll out the new million-mile EV battery, which is more advanced than its new Ultium battery that was unveiled in March.
Five years ago, for example, Tesla (NASDAQ: TSLA) set itself the goal of developing an electric car battery that lasts 1 million miles before it needs to be replaced, while General Motors (NYSE: GM) focused on getting its battery cost down below $100 per kilowatt-hour. To date, Tesla has been considered the company most likely to reach both of those goals first. As Reuters reports today, GM Executive Vice President Doug Parks has confirmed that GM is aiming to ratchet up the reliability on its new Ultium large-cell battery, to the point where it can claim 1 million miles in total lifespan, and the company is "almost there" on that goal.
Ford is proactively hiring additional workers in anticipation of employees needing time off for issues related to COVID-19.
The automaker also is working on next-generation batteries even more advanced than the new Ultium battery that it unveiled in March, according to GM Executive Vice President Doug Parks, who was speaking at an online investor conference. Reuters reported exclusively in early May that Tesla, in partnership with Chinese battery maker CATL, plans to introduce its own million-mile battery later this year or early next.
Two months after effectively freezing American auto manufacturing, Detroit's "Big Three" on Monday began to get back to business with masks, temperature checks and social distancing protocols to try to prevent coronavirus outbreaks. President Donald Trump is set to visit a Ford plant in Michigan later this week that has been building ventilators and other medical equipment during the pandemic. United Auto Workers spokesman Brian Rothenberg said the labor organization was closely monitoring the situation.
Shares of General Motors (NYSE: GM) were trading higher on Monday amid a broad market rally, as the company reopened several U.S. factories that had been idled since March. As of 10:45 a.m. EDT today, GM's shares were up about 8.4% from Friday's closing price. After weeks of planning, today's the day: Several of GM's U.S. factories, including truck plants in Flint, Michigan, and Fort Wayne, Indiana, restarted production this morning.
The Detroit Three automakers and their suppliers began restarting assembly lines on Monday after a two-month coronavirus lockdown in a slow revival of a sector that employs nearly 1 million people in the United States. On a chilly and damp Monday morning, hundreds of workers at Fiat Chrysler Automobile's (FCA) truck plant in Warren, Michigan began lining up before 4 a.m. to start the 5 a.m. shift. "I'm a little nervous," said Larry Smith, 53, of New Baltimore, who works on wheel alignment away from the assembly line.
"We are now beginning a new phase given the Mexican government's official announcement earlier this week to consider the transportation manufacturing industry as essential for the country's economy," Francisco Garza, president ofGeneral Motors de Mexico, wrote in an email to suppliers dated on Friday that was viewed by Reuters. Noting the Mexican government is due to publish final safety rules on Monday, Garza added: "Once those final guidelines are known, we will be in a position to move swiftly to comply."
General Motors Co is tentatively planning to restart operations at its auto assembly plant in the Mexican city of Silao on May 20, according to a message to workers seen by Reuters on Sunday, as the car industry prepares to exit the coronavirus lockdown. The reopening of the plant would be a positive signal for the auto sector in North America, whose supply lines are highly interconnected between the United States, Mexico and Canada. Workers had previously been told to plan to return to their jobs on May 18.