36.11 -0.01 (-0.03%)
After hours: 4:01PM EST
|Bid||36.13 x 900|
|Ask||36.15 x 3200|
|Day's range||35.25 - 36.28|
|52-week range||31.46 - 41.90|
|Beta (3Y monthly)||1.39|
|PE ratio (TTM)||5.88|
|Earnings date||5 Feb 2020|
|Forward dividend & yield||1.52 (4.31%)|
|1y target est||47.33|
The head of General Motors Co's Cadillac luxury brand said on Thursday that a majority, and possibly all, of the brand's models would be electric vehicles by 2030. Cadillac president Steve Carlisle also said Cadillac was on track for "low double-digit" sales growth in China in 2019, despite a drop in overall sales in the world's largest vehicle market. Retail Cadillac sales in the United States were on track this year for their first increase since 2013, Carlisle said.
The United Auto Workers (UAW) union said on Wednesday that rank-and-file members at Fiat Chrysler Automobiles NV have voted in favour of a new four-year labour contract with the automaker, helping the Italian-American firm avoid a strike as it works to merge with France's Groupe PSA . Fiat Chrysler (FCA) and PSA, the maker of Peugeot and Citroen, in October announced a planned $50 billion merger to create the world's fourth-largest automaker. FCA's 47,200 rank-and-file UAW members voted 71% in favour of the new contract.
Ammann did not elaborate on Cruise’s plans in his post. Cruise on Wednesday said it would offer more details at an event in San Francisco on Jan. 21. Cruise previously announced a partnership with Honda Motor Co to develop a purpose-built autonomous vehicle for use in ride-sharing.
Like many Uber drivers in Sao Paulo, the ride-hailing app's busiest city in the world, Augusto Caio Pereira does not actually own or lease the car he nudges through the city's notorious traffic jams every day. Instead, he rents Brazil's best-selling car, the Chevrolet Onix hatchback, for 390 reais ($93) a week from Localiza Rent a Car, the country's largest rental company. Pereira lost his job at a law firm a few months ago, joining Brazil's 12 million unemployed.
Global concerns about climate change are not stopping General Motors from making large SUVs for U.S. drivers. GM on Tuesday rolled out the next generation of its big truck-based SUVs with more space and features. The 2021 Chevrolet Tahoe and Suburban will come out in the middle of next year.
General Motors Co could expand the lineup of vehicles using its large truck and sport utility vehicle architecture and sees big opportunities in over-the-air software updates, President Mark Reuss told Reuters on Tuesday. GM, which controls about 70% of the large sport utility market in North America with six models, unveiled the redesigned Chevrolet Tahoe and Suburban, the first of a new generation of large SUVs whose profits will help fund development of electric vehicles that the automaker promises for the future. The 2021 Chevrolet Tahoe, revealed at the arena where the Detroit Red Wings hockey team plays in downtown Detroit, is 6.7 inches longer than the current Tahoe and can carry as much as 122.9 cubic feet of cargo.
The solution, developed by the ecommerce giant and money transfer company Western Union, allows customers to place an order online and then pay in cash at a branch of Western Union. “Lawyers were at the table from start to finish,” says the financial services company’s chief legal officer, Caroline Tsai, about achieving the deal. There has long been a debate about whether general counsel and in-house lawyers generally are primarily business enablers or guardians.
Much of that insight comes from having direct experience of many deals, says Alan Klein, co-head of law firm Simpson Thacher & Bartlett’s M&A practice in New York. The threat that Cfius can derail a blockbuster deal — as seen by President Donald Trump’s decision to block Singapore-registered Broadcom’s $142bn hostile bid for the US chipmaker Qualcomm — has made the process a priority for dealmakers.
General Motors Co confirmed on Monday it agreed to loan $40 million (31.2 million pounds) to an electric vehicle start-up to facilitate the acquisition of its shuttered Lordstown Assembly plant in Ohio. Lordstown Motors Corp, which is 10% owned by Workhorse Group Inc, bought the plant and equipment for $20 million in November as part of its ambitious plan to begin building electric pickup trucks by the end of 2020. The loan agreement, which was reported earlier Monday by the Business Journal in Youngstown, was filed in Trumbull County last week.
General Motors has agreed to loan $40 million to a newly formed company that wants to make electric pickup trucks at a massive Ohio assembly plant GM shut down earlier this year. The agreement between the two companies also would allow GM to buy back the plant up until next May, documents filed last week show. Lordstown Motors Corp. announced a month ago that it had bought the the once-bustling factory near Youngstown that made the Chevrolet Cruze up until last March.
Russia's biggest automaker Avtovaz said on Monday it would buy out General Motors from their joint venture producing vehicles in Russia under the Chevrolet brand, effectively ending GM's presence in car assembling in the country. Russia's car market was among Europe's top performers before the imposition of western sanctions in 2014 which, coupled with falling oil prices, sharply weakened the rouble, increased the cost of buying a car and curbed Russians' ability to buy new vehicles. As a result, foreign carmakers started to rethink their strategies of doing business in Russia.
U.S. job growth increased by the most in 10 months in November as former striking workers returned to General Motors' GM.N payrolls and the healthcare industry boosted hiring, the strongest sign yet the economy was not in danger of stalling. The Labor Department's closely watched monthly employment report on Friday also showed steady wage gains and the unemployment rate falling back to 3.5%, suggesting consumers will continue to drive the longest economic expansion in history, now in its 11th year. U.S. central bank policymakers are expected to highlight the economy's resilience when they meet on Dec. 10-11, though trade tensions continue to reverberate in the background.
Stocks jumped Friday after the Labor Department’s November jobs report handily topped expectations. Treasury yields rose and gold prices sharply declined, as the latest sign of strength in the U.S. economy spurred risk-on trades.
Investing.com -- It's payrolls day, and hiring in the U.S. economy is expected to have rebounded in November from October's dip due to the end of the strike at General Motors (NYSE:GM). Elsewhere, OPEC and its allies are set to sign off on a largely symbolic cut in output through March 2021, while Saudi Aramco is now the world's most valuable company after completing its $25.6 billion IPO. Here's what you need to know in financial markets on Friday, 6th December.
U.S. job growth likely accelerated in November as former striking workers returned to General Motors' payrolls, which would confirm that the economy remained on a moderate expansion path despite a prolonged manufacturing slump. The Labor Department's closely watched monthly employment report on Friday is also expected to show steady wage gains and the unemployment rate holding near a 50-year low.
The US economy added 266,000 jobs in November, surpassing analyst estimates by a wide margin and demonstrating the continued strength of the US labour market. Hourly earnings increased 3.1 per cent over the past year, also beating estimates of a 3 per cent gain. “The fact that the labour market hasn’t slowed, I mean, really, that’s amazing — given all the worry we’ve had, all the recession talk,” said Ethan Harris, head of global economics research for Bank of America Merrill Lynch.
General Motors and Korea's LG Chem have formed a joint venture to build an electric vehicle battery cell factory near Lordstown, Ohio, east of Cleveland. The companies also will work together on battery technology to bring down the cost for future GM electric vehicles. The new plant will create more than 1,100 jobs in the area around Youngstown, Ohio, and the joint venture plans to invest $2.3 billion in the plant and for battery development.
General Motors revealed even bigger SUVs on Tuesday (December 11) that it says will help pay for an electric future. The 2021 Chevrolet Suburban is a longer version of the familiar design...adding over an inch to make it one of the longest passenger vehicles on the market. It shares boomerang-shaped lights with the new Tahoe, which was also unveiled. And - the digital electronics inside are all new. Like Tesla, GM hopes to use new 'over-the-air' wireless software updates to make money or fix problems at a low cost. The company hopes the new models will help fund the development of electric vehicles. Big SUVs are profitable with margins as high as 30 percent. GM controls more than two-thirds of the market for large SUVs in North America. And their Arlington, Texas factory is running 24 hours a day to keep up with demand. With fuel economy rules from President Obama's era, automakers are encouraged to make SUVs even bigger. Cars with a larger 'footprint' have easier CO2 targets to meet. President Donald Turmp says he wants to ease these standards, but he hasn't released a final plan. GM has sided with Trump in a dispute with California, a state that's sued to maintain the stronger Obama standards.
General Motors is teaming up with South Korea's LG Chem to build an electric vehicle battery factory in Ohio - which would be one of the biggest battery building facilities in the world. Plans for the joint venture were announced Thursday. The two companies will pile in more than $2 billion combined to set up the unit, which will be built near the site of a shuttered GM plant in Lordstown, Ohio. This joint venture is expected to put more than 1100 people to work. Sources familiar with the plan said those employees would likely be part of the United Auto Workers union, which would make this the first unionized battery factory in the United States. GM has come under fire from President Trump for closing factories and shedding jobs. And Democratic presidential candidates joined the picket line with union workers who went on strike demanding better wages and angry about the use of lower-paid contract employees. Like most automakers, GM is looking to bolster sales by investing heavily in electric vehicles and newer self-driving technologies. Construction is set to begin the middle of next year.