Tag Archives: mary barra

GM About Face on Robo Taxi Development

Posted on 11 December 2024 by Ken Zino

General Motors (NYSE: GM) plans to realign its autonomous driving strategy and prioritize development of advanced driver assistance systems on a path to fully autonomous personal vehicles. GM will build on its Super Cruise program, the company’s hands-off, eyes-on driving feature, now offered on more than 20 GM vehicle models and currently logging over 10 million miles per month. GM made the announcement on a conference call for analysts late yesterday. The move could mean significant savings next year on research and development costs at the embattled company.

“GM is committed to delivering the best driving experiences to our customers in a disciplined and capital efficient manner,” said Mary Barra, chair and CEO of GM. “Cruise has been an early innovator in autonomy, and the deeper integration of our teams, paired with GM’s strong brands, scale, and manufacturing strength, will help advance our vision for the future of transportation.” Continue reading →

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General Motors Q3 2024 Earnings Up. Guidance Raised Again

Posted on 22 October 2024 by Ken Zino

General Motors (NYSE: GM) today posted flat Q3 net earnings ($3.1 billion), but with pretax earnings up ~16%. GM’s adjusted earnings before interest and taxes were $4.1 billion in the quarter. Global revenue ~11% to $48.8 billion. North American pretax earnings rose 13% to ~$4 billion. Moreover, GM raised its earnings guidance for the third straight time this year. GM’s 2024 financial guidance includes anticipated capital spending of $10.5 billion – $11.5 billion, inclusive of investments in the company’s battery cell manufacturing joint ventures.

“In the third quarter, we grew U.S. retail market share with above-average pricing, well-managed inventories and below-average incentives. In China, sales improved from the second quarter, and dealer inventory fell sharply. In addition, we remain on track to reach our 2024 EV production and profitability targets,” said Mary Barra, GM Chair and CEO. Continue reading →

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Strange Clean Energy Bedfellows – GM and Hyundai

Posted on 12 September 2024 by Ken Zino

General Motors (NYSE: GM) and Hyundai Motor Company (KRX: 005380 KS) said today that they have signed an agreement to explore future collaboration across key strategic areas. The culturally different companies will look at joint product development, manufacturing and future clean energy technologies. They will also review prospects for combined sourcing in battery raw materials, steel and other areas. What this immediately calls into question is GM’s existing similar agreements with Honda Motor. Continue reading →

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GM Annual Meeting Vote Strongly Endorses Board’s Strategy

Posted on 6 June 2024 by Ken Zino

The first item of business was  the election of 12 directors Each year the shareholders elect directors to serve for the coming year until their successors are elected.* The vote tally was based on the preliminary report provided by the Inspector of Elections, for the first item of business, the election of directors, all of the company’s director nominees were elected. Directors received on average a favorable vote of 97% of the votes cast (it will be official with exact numbers when an SEC filing is made.) More importantly in AutoInformed’s opinion is that all dissident shareholder proposals following that the Board recommended a vote against were soundly defeated. Continue reading →

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GM Changing Software and Services Organization

Posted on 3 June 2024 by Ken Zino

“GM’s journey toward a tech-forward future is clearer than ever, thanks to the exceptional talent within our team and the leadership of Baris and Dave,” said GM Chair and CEO Mary Barra. “They bring energy and vision, combined with extensive technical and management experience, that will continue to strengthen our software engineering and product teams. These elevated roles will ensure continuity, speed, and quality as software becomes even more central to the vehicle.” Continue reading →

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GM Earns $2.1 Billion in Q4, $17.8 Billion for Full Year 2023

Posted on 30 January 2024 by Ken Zino

“As we begin 2024, I believe GM is well positioned for a year of strong financial performance that will build on everything we accomplished – and learned – in 2023,” said Mary Barra, GM chair and CEO. “Consensus is growing that the US economy, the job market and auto sales will continue to be resilient, and at GM, we expect healthy industry sales of about 16 million units with the mix of EVs continuing to grow,’ Barra said. Continue reading →

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Happy New Year! GM Reorganizes Regions and PD

Posted on 13 December 2023 by Ken Zino

General Motors Co. (NYSE: GM) said today that is making changes to its product development team and creating a new role to oversee its global regions. This reorganization is partially the result of the retirement of Doug Parks, GM executive vice president of Global Product Development, Purchasing and Supply Chain, after a ~40-year career at the company. All changes take effect on 2 January 2024.

“We’ve spent years preparing GM to transition to an all-electric future, and Doug’s leadership has been pivotal. We are grateful for his many contributions to GM’s success,” said GM Chair and CEO Mary Barra. “The changes we are announcing today will continue to drive technical excellence and deliver groundbreaking vehicles to our customers around the world.” 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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UAW Shifts Tactics – No New Strike Actions Today

Posted on 13 October 2023 by Ken Zino

Shawn Fain in a Facebook Live broadcast this morning once again caught the Detroit Three Automakers napping when he said “We’re entering a new phase of this fight, and it demands a new approach. We’re not announcing expansion of our strike, but we are prepared at any time to call on more locals to stand up and walk out… So tomorrow, I’m calling all of our UAW members and our allies to head to a picket line,” in a show of support for all workers. Continue reading →

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New Car Prices Up 34% in last Four Years. UAW Pay 6%

Posted on 13 October 2023 by Ken Zino

The video also shows that Big Three price gouging, not UAW pay, has been responsible for rising car prices in recent years. Average new car prices went up 34% over the last four years while pay for UAW members rose just 6%. The cost of labor for the Big Three is ~4-5% of total operations. The video notes that Ford, General Motors and Stellantis could double UAW wages, not raise car prices and still make billions of dollars. Continue reading →

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Chevrolet Bolt Returning as Affordable EV

Posted on 25 July 2023 by Ken Zino

“Our customers love today’s Bolt. It has been delivering record sales and some of the highest customer satisfaction and loyalty scores in the industry,” said Barra. “It’s also an important source of conquest sales for the company and for Chevrolet. We will keep the momentum going by delivering a new Bolt…and we will execute it more quickly compared to an all-new program with significantly lower engineering expense and capital investment by updating the vehicle with Ultium and Ultifi technologies and by applying our ‘winning with simplicity’ discipline.” Continue reading →

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GM Posts Strong Q2 Results with $3.2B in Earnings

Posted on 25 July 2023 by Ken Zino

“The biggest driving force behind our financial results is customer demand for our vehicles, which have now led the U.S. industry in initial quality for two consecutive years. We have earned four consecutive quarters of higher retail market share in the U.S. versus a year ago with continued strong pricing and incentive discipline, we’re leading in both commercial and total fleet deliveries calendar year to date, and we’re growing profitably in international markets such as Brazil and Korea,” said CEO Mary Barra. Continue reading →

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Lin-Hua Wu Named GM’s Chief Communications Officer

Posted on 22 June 2023 by Ken Zino

General Motors (NYSE:GM) today named Lin-Hua Wu, 52, as senior vice president and chief communications officer – a job that is consdierably more complicated in the post Covid era. Wu joins GM  by leaving Google, where she was Vice President of Global Communications & Public Affairs since 2021. Wu’s appointment is effective 21 August 2023. She will report to GM Chair and CEO Mary Barra. Continue reading →

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GM Adding Tesla Supercharger Network to Ultium Charge 360

Posted on 9 June 2023 by Ken Zino

General Motors Co. (NYSE: GM) is following Ford Motor Company expanding EV charging access to the Tesla supercharger network. GM customers will be able to access 12,000 Tesla Superchargers and growing beginning in early 2024 as part of the ongoing Ultium Charge 360 plan to expand access for residential, work and public charging. This builds on the more than 134,000 chargers available to GM EV drivers today through the company’s Ultium Charge 360 program and associated mobile apps. Continue reading →

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Apple VP of Cloud Service – Mike Abbot – Joins GM

Posted on 9 May 2023 by Ken Zino

“We have entered the next phase of our technology driven transformation focused on rapidly scaling new EV models and our Ultifi software platform, which will drive faster innovation and enable new and exciting customer experiences,” said Mary Barra. Continue reading →

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