General Motors (GM) will bring Cadillac EVs to Switzerland and other European markets
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UAW President Fain holds Facebook live event - 'Our strike is working, but were not there yet'
October 6, 2023 2:36 PM EDTUnited Auto Workers (UAW) President Shawn Fain held a Facebook live event Friday afternoon where he announced his union has made significant progress in their effort to push automakers towards meeting the demands of workers.
Fain announced that moments before this broadcast General Motors (NYSE: GM) agreed to place their EV battery manufacturing under the UAWs national agreement, calling the decision a... More
GM airbag recall could cost ~$4-5B - Wells Fargo
October 6, 2023 8:50 AM EDTWells Fargo reiterated an Underweight rating on General Motors (NYSE: GM) and maintained their 12-month price target of $29.00 on the stock following a report by the Wall Street Journal saying U.S. regulators are pushing to recall 52M ARC airbag inflators.
The National Highway Traffic Safety Administration (NHTSA), in a rarely held public forum, recommended the recall as a mechanism utilized in the... More
NHTSA holds public hearing to recall 52M air bag inflators
October 5, 2023 1:46 PM EDTOfficials from the U.S. National Highway Traffic Safety Administration (NHTSA) Thursday recommended the government mandate a recall of 52 million air bag inflators manufactured by ARC Automotive and Delphi Automotive.
The regulators believe the inflators pose a potential risk of rupturing and ejecting metal fragments.
The NHTSA held a rare public hearing on the matter, which could trigger one of the most extensive recalls in U.S. history.
Delphi Automotive, which is a part of Autoliv (NYSE: ALV), produced approximately 11 million of these... More
General Motors (GM) makes counteroffer to striking UAW
October 5, 2023 1:17 PM EDTDetroit automaker, General Motors (NYSE: GM) revealed Thursday that they have submitted a counteroffer to the United Auto Workers (UAW), its sixth since talks began, in hopes to end a strike by the union against the U.S. automaker.
"We believe we... More
GM secures $6B line of credit as UAW strike continues
October 4, 2023 11:15 AM EDTGeneral Motors (NYSE: GM) announced Wednesday morning the procurement of a fresh $6 billion line of credit and disclosed that the financial impact of the United Auto Workers (UAW) strike in the 3Q amounted to $200 million, according to a company representative.
The strike, which began on September 15th and has now... More
September auto sales surpass expectations despite challenges
October 4, 2023 8:36 AM EDTThe United States, in September, witnessed an impressive resurgence in the automotive industry, with the SAAR for light vehicle sales reaching a remarkable 15.7 million. This surge marked a 16.2% year-over-year increase, surpassing J.P. Morgans earlier projection of 15.4 million.
One contributing factor to the surge in auto sales is pent-up demand. Adverse weather conditions in several states during August may have led potential buyers to delay their purchases, resulting in an influx of sales the following month.
Another key factor driving strong performance is the greater availability of cars... More
CFRA Upgrades General Motors (GM) to Sell
October 3, 2023 4:53 PM EDTCFRA analyst Garrett Nelson upgraded General Motors (NYSE: GM) from Strong Sell to Sell with a price target of $28.00.
The analyst commented, "We maintain our 12-month target of $28, based on a 2024 P/E of 4.2x, a steep but justified discount to historic averages. We increase our 2023 adjusted... More
General Motors (GM) reports Q3 vehicle sales of 674,336
October 3, 2023 12:02 PM EDTGeneral Motors (NYSE: GM) reports Q3 vehicle sales of 674,336
28% EV sales increase compared to second quarter... MoreGeneral Motors (GM) option IV increases
October 3, 2023 11:17 AM EDTGeneral Motors (NYSE: GM) October weekly call option implied volatility is at 44, October is at 41; compared to its 52-week range of 27 to 60.
... MoreGeneral Motors (GM) PT Lowered to $29 at Wells Fargo
October 3, 2023 6:42 AM EDTWells Fargo analyst Colin M. Langan lowered the price target on General Motors (NYSE: GM) to $29.00 (from $33.00) while maintaining a Underweight rating.... More
General Motors (GM) PT Lowered to $32 at Goldman Sachs
October 3, 2023 3:18 AM EDTGoldman Sachs analyst Mark Delaney lowered the price target on General Motors (NYSE: GM) to $32.00 (from $47.00) while maintaining a Buy rating.... More
