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Tag Archives: cruise
Cruise CEO Resigns as GM Revamps Embattled Company
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
Posted in auto news, autonomous vehicles, blog, milestones, mobility company, news analysis, people, public health
Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, Craig B. Glidden, cruise, Cruise pause of all driverless operations, Daniel Can, Ken Zino, Kyle Vogt
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GM Raises 2022 Earnings, Offers 2023-25 Performance Goals
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
GM Earns $4.3 Billion in Q3 2022
“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
Posted in economy, electric vehicles, financial results, news analysis
Tagged auto industry commentary, autoinformed.com, bolt, cruise, GM, GM Q3 2022 earnings, Ken Zino
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Cruise CEO – It Will Be Hard to Sell a Car That Isn’t Self-Driving
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
GM Ups Bet by $35B in Autonomous, Electric Vehicle Games
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
GM Projects Strong Earnings, Improved Cash Flow in 2019
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
Posted in economy, electric vehicles, financial results, news analysis
Tagged auto industry commentary, autoinformed, autoinformed.com, automotive blog, connected vehicles, cruise, GM 2019 business plan, GM 2019 Earnings forecast, gm china, gm earnings, honda, Ken Zino, new vehicle reviews
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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
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
GM Takes UAW Contract Costs in Stride. Ups 2024 Dividend
“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 →