SAO PAULO, Jan 19- General Motors Co has warned employees in Brazil that new investments there depend on a painful plan to return to profit in the country, according to a memo seen by Reuters on Saturday. In a message posted at Brazilian plants, GM's top executive in Brazil and Argentina, Carlos Zarlenga, said after running up a heavy loss over the past three years the...
But in Washington, the move remains a public relations crisis that threatens to derail a methodical effort by Chief Executive Mary Barra to keep GM in good graces with the White House and other politicians. Representative Debbie Dingell, a Democrat from southeast Michigan and former GM employee, said at the time that GM had become "the most thoroughly disliked...
DETROIT, Jan 14- Auto executives gathered in Detroit on Monday called on the Trump administration and Congress to resolve trade disputes, and end the government shutdown, saying political uncertainty is costing the industry. U.S. trade officials are negotiating a new deal with China in hopes of avoiding new tariffs, while a new regional trade agreement with...
Long the dominant U.S. auto show, Detroit's North American International Auto Show that kicks off Sunday will underscore some of the industry's biggest changes in recent years.
"The product pipeline is full. It's fresh. It's all in the right part of the market," says former GM vice chair Bob Lutz.
GM said that despite forecasts of decline in U.S. and China passenger car sales, the company expects 2018 profit to exceed Wall Street expectations, and promised higher earnings per share in 2019. Barra also said proposals from Ohio officials that GM sell its Lordstown, Ohio, small car factory to Tesla are "moot" because Tesla is "not interested in our GM workforce...
GM said that despite forecasts of decline in U.S. and China passenger car sales, the company expects 2018 profit to exceed Wall Street expectations, and promised higher earnings per share in 2019. "We're very much looking forward to the execution of what they've announced," Tim Piechowski, portfolio manager with ACR Alpine Capital Research, which owns GM shares.
Former Continental Airlines CEO Gordon Bethune and CNBC's Phil LeBeau discuss the new guidance on GM and the tranports sector.
The company has spent the last two years exiting unprofitable markets in Europe, parts of Africa and Asia. In November it put five North American factories, including four in the United States, on notice for closure, and cut almost 15,000 jobs. The battle for profits from sales of large pickup trucks is intensifying among the Detroit Three automakers as sales of...
GM said it expected industry auto sales in China to stay roughly flat in 2019 and that it "will remain agile in responding to shifting market dynamics" while launching more than 20 new or revamped vehicles in that market in 2019.. Auto sales in China have suffered their worst slump in decades, and on Friday Reuters reported that China plans to set a lower target for...
CNBC's "Squawk on the Street" team is joined by Emmanuel Rosner, Deutsche Bank lead auto and technology analyst, to talk about GM's guidance.
CNBC's Phil LeBeau shares a highlight from his conversation with General Motors CEO Mary Barra.
Jan 11- General Motors Co said on Friday it expects 2018 adjusted earnings per share to exceed its prior estimates and forecast 2019 earnings above Wall Street expectations, sending its shares up more than 7 percent. The largest U.S. carmaker said in October it expected adjusted 2018 earnings of $5.80- $6.20. GM forecast 2019 adjusted earnings per share in the...
CNBC's Phil LeBeau reports on GM's guidance revision and his interview with CEO Mary Barra.
GM cited strong sales in China and high demand for its truck and utility vehicles in the U.S. in upgrading its earnings guidance.
DETROIT, Jan 8- The head of Canada's auto union blasted General Motors Co on Tuesday for pushing ahead with plans to phase out work at its Oshawa, Ontario, assembly plant despite calls by workers and politicians in Canada to find a new vehicle to build there. We're going to continue to have discussions with them about solutions, " Jerry Dias, national president of...
DETROIT, Jan 8- The head of Canada's auto union blasted General Motors Co on Tuesday for pushing ahead with plans to phase out work at its Oshawa, Ontario, assembly plant despite calls by workers and politicians in Canada to find a new vehicle to build there. We're going to continue to have discussions with them about solutions, " Jerry Dias, national president of...
TORONTO, Jan 7- The head of Canada's auto union said on Monday he was set to meet with General Motors Co executives in Detroit on Tuesday to discuss the automaker's Oshawa, Ontario, assembly plant, scheduled to shut down in December 2019. After meeting with GM executives in Detroit on Dec. 20, Dias told reporters the automaker would respond to the union's proposals by...
GM's new president, 55-year-old Mark Reuss, likes to say there's gasoline in his veins. It's not all that far fetched. His father Lloyd also served as GM president nearly three decades ago.
In 2009, Congress set the phase-out threshold at 200,000 vehicles per manufacturer. GM and Tesla Inc, which hit the 200,000 figure in July 2018, have both lobbied Congress to lift the cap or extend the existing tax credit. In March, GM Chief Executive Mary Barra called on Congress to expand the consumer tax credit for electric vehicles as the company boosted...
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