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Tag Archives: mary barra
GM to Invest $888M in V8 Gas Engines
General Motors (NYSE: GM) said Tuesday that it plans to invest $888 million in its Tonawanda Propulsion plant to support the production of the sixth generation of GM’s V8 engines, used in full-size trucks and SUVs. The money is for new machinery, equipment, and tools, as well as facility renovations. GM makes money – thousands up thousand of U.S. Dollars a unit – on selling full-size pickup trucks and SUVs with fossil fueled engines. This a prudent move that will help offset the significant costs incurred during the slow walk to non-fossil fueled propulsion systems.
“Our significant investments in GM’s Tonawanda Propulsion plant show our commitment to strengthening American manufacturing and supporting jobs in the U.S.,” said Mary Barra, Chair and CEO. “GM’s Buffalo plant has been in operation for 87 years and is continuing to innovate the engines we build there to make them more fuel efficient and higher performing, which will help us deliver world-class trucks and SUVs to our customers for years to come.” Continue reading →
GM Poaches Aurora Exec for Chief Product Officer
General Motors (NYSE: GM) today announced the appointment of Sterling Anderson, co-founder and chief product officer of autonomous trucking company Aurora, as executive VP, Global Product and Chief Product Officer. This can be viewed either as a GM poaching or grabbing an itinerant executive. He will report to GM President Mark Reuss. Anderson joins GM on 2 June 2025 and will be based in GM’s Mountain View Tech Center in California. The latest move comes at a time when Chinese companies are challenging traditional automakers with stunningly short development times and new product debuts with a variety of electronic systems. Continue reading →
Posted in news analysis
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Tagged Aurora, auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, GM Mountain View Tech Center, Ken Zino, mark reuss, mary barra, massachusetts institute of technology, MIT Intelligent Co-Pilot, Sterling Anderson, tesla, Tesla Autopilot, X @KenAutoinformed
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GM Board OK’s New Share Repurchases, Higher Dividends
“The GM team’s execution continues to be strong across all three pillars of our capital allocation strategy, which are to reinvest in the business for profitable growth, maintain a strong investment grade balance sheet, and return capital to our shareholders,” said Mary Barra, chair and CEO. Continue reading →
Posted in auto news, economy, financial results, mobility company, news analysis
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Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, Barclays, GM share repurchase authorization, J.P. Morgan, Ken Zino, mary barra, Paul Jacobson, X @KenAutoinformed
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GM About Face on Robo Taxi Development
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 →
Posted in auto news, autonomous vehicles, car sharing, connected vehicles, electronics, engineering, milestones, mobility company, news analysis, software defined vehicles
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Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, Dave Richardson, GM Cruise, Ken Zino, mary barra, robotaxis, X @KenAutoinformed
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General Motors Q3 2024 Earnings Up. Guidance Raised Again
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 →
Posted in auto news, financial results, manufacturing, marketing, mobility company, news analysis, results
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Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, General Motors Q3 2024 Earnings, gm earnings, Ken Zino, mary barra, X @KenAutoinformed
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Strange Clean Energy Bedfellows – GM and Hyundai
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 →
Posted in alternative fuels, auto news, electric vehicles, electronics, energy, engineering, environment, global warming, manufacturing, milestones, news analysis, public health, shows and events
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Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, Euisun Chung, Ken Zino, mary barra, X @KenAutoinformed
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GM Annual Meeting Vote Strongly Endorses Board’s Strategy
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 →
Posted in auto news, customer satisfaction, economy, environment, global warming, mobility company, news analysis, people, shows and events
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Tagged 2024 GM Annual Meeting, auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, Elizabeth Levy, Ken Zino, Luke Perlot, mary barra, Steve Milloy
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GM Changing Software and Services Organization
“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 →
Posted in auto news, autonomous vehicles, connected vehicles, electric vehicles, electronics, engineering, milestones, mobility company, news analysis, people, software defined vehicles, software defined vehicles
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Tagged advanced driver assistance system, auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, Baris Cetinok, Dave Richardson, GM Software and Services, GM Software and Services Engineering, Ken Zino, mary barra
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GM Earns $2.1 Billion in Q4, $17.8 Billion for Full Year 2023
“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 →
Posted in economy, electric vehicles, environment, financial results, mobility company, news analysis, software defined vehicles
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Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, Cadillac LYRIQ, Chevrolet Blazer EV and Silverado EV Work Truck., GM 2023 full year and Q4 earnings, GMC Hummer EV, Ken Zino, mary barra, Paul Jacobson
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Happy New Year! GM Reorganizes Regions and PD
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 →
Posted in auto news, electric vehicles, electronics, engineering, global warming, milestones, mobility company, people
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Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, Doug Parks, GM Global Markets, gm north america, Josh Tavel, Ken Morris, Ken Zino, Marissa West, mary barra, Rory Harvey
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GM, Cruise, Honda – 2026 Autonomous Ridehail in Japan
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 →
UAW Shifts Tactics – No New Strike Actions Today
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 →
Posted in customer satisfaction, economy, labor issues, manufacturing, news analysis, people, shows and events
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Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, big three bargaining, carlos tavares, Ford, general motors, Jim Farley, Ken Zino, mary barra, Shawn fain, stand up strike, Stellantis
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New Car Prices Up 34% in last Four Years. UAW Pay 6%
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 →
Posted in labor issues, people, prices, shows and events
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Tagged auto industry commentary, autoinformed.com, automotive blog, Automotive news and analysis, big three bargaining, carlos tavares, Ford, general motors, Jim Farley, Ken Zino, mary barra, Shawn fain, stand up strike, Stellantis
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Chevrolet Bolt Returning as Affordable EV
“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 →
GM Posts Q2 Earnings of $3 Billion
“Despite slower EV industry growth, we believe the long-term future is profitable electric vehicle production, and this continues to be our north star. As we adjust to changing demand, we will prioritize our customers, brands, and a flexible manufacturing footprint, and leverage our domestic battery investments and other profit-improvement plans,” said Mary Barra, GM Chair and CEO, “Overall, GM is well positioned to succeed in an ICE market that now has a longer runway, Barra said. Continue reading →