General Motors says that more than 650 hourly employees at its sites in the U.S. will transition from temporary to regular full-time employment during January 2021. These employees work at nine GM manufacturing plants and other sites in Michigan, Indiana, Texas and Missouri.
General Motors offers some of the best-paying manufacturing jobs in the United States, including top-of-the-line health care benefits with low out-of-pocket costs compared to other employers in any industry. The temporary employees transitioning to regular full-time status will see medical plan cost-share improvements, the addition of dental and vision coverage, company contributions into their 401(k) plans, profit sharing and life insurance coverage. Continue reading
GM 2020 US Sales – Infected by Covid – Are Down -12%
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General Motors (NYSE: GM) sold 771,323 vehicles in the fourth quarter of 2020. Total sales for Q4 were up 5% year over year. GM claimed its best fourth quarter retail sales since 2007, with deliveries up 12%. Sales for the calendar year were 2,547,339 units, with total deliveries down 12% year over year and retail deliveries down 6%. Retail sales for the industry began to recover in May and reached pre-pandemic levels during the fourth quarter. Sales to fleets are recovering – but remain sharply lower, especially daily rental deliveries. Average GM transaction prices set fourth-quarter and full-year records at $41,886 and $39,229, respectively.
GM estimates it gained market share in total, retail and fleet deliveries for both the fourth quarter and calendar year. GM ended 2020 with inventory of 410,875 units, including in-transit units, down 205,148 units year over year. Fourth-quarter incentive spending as a percentage of ATP was 10.7%, close to the industry average, according to J.D. Power PIN estimates. Continue reading →