Tag Archives: cruise

GM Takes UAW Contract Costs in Stride. Ups 2024 Dividend

Posted on 29 November 2023 by Ken Zino

“We are finalizing a 2024 budget that will fully offset the incremental costs of our new labor agreements and the long-term plan we are executing includes reducing the capital intensity of the business, developing products even more efficiently, and further reducing our fixed and variable costs,” said Mary Barra, GM Chair and CEO. Continue reading →

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Cruise CEO Resigns as GM Revamps Embattled Company

Posted on 22 November 2023 by Ken Zino

Cruise CEO Kyle Voght resigned on Sunday and there are media reports that the chief product officer and co-founder Daniel Can also resigned. You wouldn’t know it from the Cruise web site, which remains mute on the defections or what look to be forced resignations.   Continue reading →

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GM, Cruise, Honda – 2026 Autonomous Ridehail in Japan

Posted on 19 October 2023 by Ken Zino

GM (NYSE:GM), Cruise and Honda today announced a memorandum of understanding to establish a new joint-venture company to launch a driverless ridehail service in Japan starting in early 2026. The so-called Origin vehicle developed by GM, Cruise and Honda will be made in the US. GM will manufacture ~500 Origins for the launch of this new JV at Factory ZERO Detroit-Hamtramck Assembly in Michigan, said to be the launchpad for GM’s multi-brand EV and AV future. Continue reading →

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GM Raises 2022 Earnings, Offers 2023-25 Performance Goals

Posted on 17 November 2022 by Ken Zino

General Motors Co. (NYSE: GM) at its annual investors’ meeting in New York City significantly raised its 2022 financial results predictions. GM now projects full-year 2022 adjusted automotive free cash flow will increase to $10-11 billion from its previous guidance of $7-9 billion. GM now projects 2022 EBIT-adjusted for the full year will be in a range of $13.5-14.5 billion, compared to its previous guidance of $13-15 billion. Continue reading →

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GM Earns $4.3 Billion in Q3 2022

Posted on 25 October 2022 by Ken Zino

“This keeps us on track to deliver our third consecutive year of full-size pickup leadership, and our 22nd year as the full-size SUV leader. To build our truck leadership and help maintain our strong margins, Chevrolet and GMC recently unveiled new mid-size and heavy-duty pickups that will launch next year,” said GM chair and CEO Mary Barra. Continue reading →

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Cruise CEO – It Will Be Hard to Sell a Car That Isn’t Self-Driving

Posted on 10 March 2022 by Ken Zino

The challenges are the cost of the technology that works and customer satisfaction – make the riders happy. Cruise is 6 weeks into dozens of driverless vehicles on the roads. The technology is scalable from two cities, to three, to 20 to… exponential growth. Hence the capital market interests. Continue reading →

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GM Ups Bet by $35B in Autonomous, Electric Vehicle Games

Posted on 16 June 2021 by Ken Zino

The seemingly bottomless pit of capital being consumed in the race to survive the connected, green and autonomous vehicle wars has grown deeper with General Motors saying today it will increase its EV and AV investments from 2020 through 2025 to $35 billion. This is a – gulp – 75% increase from its initial pledge announced prior to the ongoing pandemic. Continue reading →

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GM Projects Strong Earnings, Improved Cash Flow in 2019

Posted on 12 January 2019 by Ken Zino

In 2019, despite a diminishing car market, GM expects the overall U.S. market to remain strong, projecting total industry sales in the low 17-million range. The company will benefit from a full year of volume from GM’s all-new Chevrolet Silverado and GMC Sierra light-duty full-size pickups. The trucks have contributed to retail market share growth in the light- duty pickup segment every month since August, with average transaction prices that have surpassed those of key competitors. Continue reading →

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Honda Joins with Cruise and General Motors to Build New Autonomous Vehicle. Honda Investment Of $750 Million Values Cruise At $14.6 Billion

Posted on 3 October 2018 by Ken Zino

In the auto industry a new production vehicle takes roughly four years and about a billion dollars to design and bring to market. That’s if there is an existing assembly plant – if not, add another billion dollars – and an experienced team ready to move. Continue reading →

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