GM to Retire the Chevrolet Malibu as Electric Vehicles Becomes Focus
The Chevrolet Malibu, the last midsize car made by a Detroit automaker, is being discontinued as General Motors shifts focus to electric vehicles. [ more ]
Chevy's Electric Camaro Could be One of the Most Affordable EVs in America
The Chevrolet Camaro is expected to make a comeback as an EV, potentially at a similar price point to the Equinox EV with federal tax credits. [ more ]
The Chevrolet Camaro Could Return As A $34,995 Pony EV: GM President
The iconic Chevrolet Camaro is set to return as an all-electric car designed to appeal to a broader audience, positioned competitively in terms of pricing. [ more ]
Autoworker strike cost General Motors $1.1 billion
General Motors experienced a $1.1 billion hit in pretax earnings due to a strike by autoworkers.
GM plans to buy back $10 billion worth of stock and increase its dividend by one-third in January.
The company expects to generate more cash for the full year by cutting capital spending and slowing down spending on electric vehicles and its autonomous vehicle unit. [ more ]
GM scales back electric vehicle and self-driving car plans as new labour deals will cost it $10B | CBC News
General Motors plans to scale back its plans for electric vehicles and self-driving cars due to the high costs of new labour deals with unions in the US and Canada.
Despite the cost, GM plans to buy back $10 billion of its own shares and increase its dividend by 33%.
GM's new guidance lowered its expected net income for 2023 and included an estimated $1.1 billion impact from the UAW strike. [ more ]
U.S. union workers at General Motors appear to have voted down tentative contract deal | CBC News
The tentative contract agreement between General Motors and the United Auto Workers union is likely to be defeated.
Workers at five large factories have already voted against the deal by significant margins.
The union's website shows the deal winning by 686 votes, but this does not include votes from several plants that have also voted against the agreement. [ more ]
Electric Vans, Delayed by Production Problems, Find Eager Buyers
Not long after buying a Ford E-Transit van for his plumbing business last November, Mitch Smedley sat down with some receipts and a calculator to figure out how much the electric vehicle was saving him on fuel expenses.A few minutes of number crunching showed he was spending about $110 to $140 a week on fuel for each of the four older, diesel Transits in his fleet.