GM and Honda (HMC) cancel plans to co-develop affordable EVs

Tesla (TSLA) not part of EU probe into Chinese subsidies

The south China Morning Post reports Friday that electric vehicle giant, Tesla (NASDAQ: TSLA) will not be a part of the European Unions investigation into subsidies granted by the Chinese government but may be subject to duties based on their own discovered... More

Hertz (HTZ) slows EV plans, faults Tesla (TSLA) price cuts and repair costs

Hertz Global (NASDAQ: HTZ) revealed during its 3Q earnings call on Thursday that the rental car company has decided to slow the process of electrifying the companys fleet after EV partner, Teslas (NASDAQ: TSLA) price cuts kneecapped the resale value of a majority of electric cars in the rental fleet by a third.

Our in-fleeting... More

General Motors (GM) GM’s Cruise parks all driverless cars in U.S. amid safety concerns

General Motors (NYSE: GM) robotaxi business, Cruise has decided to suspend all driverless operations across the U.S. after California regulators deemed the vehicles unsafe for public operation and suspended the companys self-driving permit.

The most important thing for us right now is to take steps to rebuild public trust, Cruise said in an online post late Thursday.

Part of this involves taking a hard look... More

Tesla (TSLA) reverses price cut on Model Y variant in China

According to a local website, Tesla (NASDAQ: TSLA), on Friday, increased the cost of its Model Y Performance sport-utility vehicle in China by approximately $2,000, undoing a price cut put into effect back in August.

The top-tier version of the electric SUV now... More

Tesla (TSLA) begins deliveries of new Model 3+ 'Highland' in the Netherlands

Tesla (NASDAQ: TSLA) has begun deliveries of their Model 3+ "Highland" electric vehicle in the another European country as drivers from the Netherlands report receiving their newly-designed vehicles this morning.

Following the earlier launch of the Model 3+ by Tesla a few months back, deliveries officially kicked off earlier this month, putting an end to months of speculation surrounding the timeline for the automaker's release... More

bp Pulse (BP) announces $100M EV charging deal with Tesla (TSLA)

bp (NYSE: BP) announced Thursday morning that the oil and gas companys EV charging business, bp Pulse, has struck a deal with electric automaker, Tesla (NASDAQ: TSLA) to acquire ultra-fast charging hardware units from the automaker for $100M.

According to the announcement, starting in 2024, the Tesla chargers will be deployed at key sites across the bp family... More

Honda Motor (HMC) Sony Honda Mobility looks to source EV batteries from U.S.

Izumi Kawanishi, the president of Sony Honda Mobility, an automotive joint venture made up of Sony and Honda (NYSE: HMC), told Reuters Wednesday that the company might potentially acquire batteries for their upcoming Afeela electric car from the United States, where Honda is... More

General Motors (GM) California DMV puts the brakes on GM's Cruise driverless cars over safety risk

California issued an order to General Motors' (NYSE: GM) Cruise division Tuesday, demanding the removal of its autonomous vehicles from state roads.

The state referred to the vehicles as a potential threat to public safety and accused the company of misrepresenting information about the technology's safety.

The Department of Motor Vehicles (DMV) in California declared the suspension of Cruise's permit for autonomous vehicle deployment and driverless testing, effectively halting the company's testing of the vehicles without safety... More

Lawyer says Tesla (TSLA) knew of autopilot steering fault before fatal crash

During closing arguments in a California state court on Tuesday, an attorney involved in a lawsuit against Tesla (NASDAQ: TSLA), pertaining to a fatal accident, highlighted an internal safety analysis conducted by the company. The analysis revealed that Tesla was aware of a steering malfunction in its Autopilot driver assistant feature approximately two years prior.

This revelation occurred in the first U.S. trial that addresses allegations of Autopilot's involvement in a fatal incident. The plaintiffs are collectively seeking a jury award of $400 million, not including punitive damages. The verdict... More

General Motors (GM) PT Lowered to $33 at Jefferies

Jefferies analyst Philippe Houchois lowered the price target on General Motors (NYSE: GM) to $33.00 (from $35.00) while maintaining a Hold rating.... More

General Motors (GM) PT Lowered to $38 at Mizuho Securities

Mizuho Securities analyst Vijay Rakesh lowered the price target on General Motors (NYSE: GM) to $38.00 (from $40.00) while maintaining a Neutral rating.... More

General Motors (GM) PT Raised to $48 at RBC Capital

RBC Capital analyst Joseph Spak raised the price target on General Motors (NYSE: GM) to $48.00 (from $47.00) while maintaining a Outperform rating.... More

General Motors (GM) PT Lowered to $42 at Goldman Sachs

Goldman Sachs analyst Mark Delaney lowered the price target on General Motors (NYSE: GM) to $42.00 (from $47.00) while maintaining a Buy rating.... More

California sidelines GM Cruise's driverless cars, cites safety risk

By Hyunjoo Jin and David Shepardson

SAN FRANCISCO/WASHINGTON (Reuters) -California on Tuesday ordered General Motors' Cruise unit to remove its driverless cars from state roads, calling the vehicles a risk to the public and saying the company had "misrepresented" the safety of the technology.

California's Department of Motor Vehicles (DMV) said it suspended Cruise's autonomous vehicle deployment and driverless testing permit, ending efforts by the company for the time being to test the cars without safety drivers.

"Based upon the performance of the vehicles, the department determines the manufacturer's vehicles are not safe for the... More

UAW strikes GM's Escalade factory, turning up pressure for higher wages

By David Shepardson and Joseph White

(Reuters) -The United Auto Workers (UAW) union on Tuesday struck a General Motors assembly plant in Texas that builds the U.S. automaker's profitable full-size sport utility vehicles in another significant expansion of the strike.

By striking GM's Arlington assembly plant, home to GM's profitable Chevy Tahoe, Chevy Suburban, GMC Yukon and Cadillac Escalade large SUVs, the UAW has now shut down three of the most profitable auto factories in the world. Workers at Ford's Kentucky Truck heavy-duty pickup factory and Chrysler-owner Stellantis' Ram pickup plant in Sterling Heights, Michigan, are... More

U.S. stocks were rising as Treasury yields retreated; Big tech earnings in focus

Investing.com -- U.S. stocks were rising as bond yields retreated ahead of the release of quarterly earnings from some major tech companies.

At 09:55 ET (13:55 GMT), the Dow Jones Industrial Average rose 204 points or 0.7%, while the S&P 500 was up 0.6% and the Nasdaq was up 0.7%.

The main indices on Wall Street closed in a mixed fashion Monday, as the benchmark 10-year Treasury yield traded above the closely followed 5% level before falling back. The broad-based S&P fell 0.2% and... More

UAW Says 5,000 Members at GM Arlington Assembly Join Strike - Bloomberg

UAW Says 5,000 Members at GM Arlington Assembly Join Strike - Bloomberg

UAW Says 5,000 GM (GM) Workers In Texas Are Joining Strike - Bloomberg

UAW Says 5,000 GM (GM) Workers In Texas Are Joining Strike - Bloomberg

GM 'moderating the acceleration of EV production', some EVs will be delayed says CEO Barra

Shares of General Motors (NYSE: GM) moved up nearly 1.30% before sinking 1.44% into the red in pre-market trading after the Detroit automaker reported its 3Q earnings results Tuesday morning, while in the midst of ongoing labor strikes by the United Auto Workers union.

The automaker reported a top line beat with adjusted earnings coming in at $2.28 versus the streets $1.88 estimate, while revenue came in at $44.1B, ahead of the consensus estimate of $42.62B.

"In the U.S., our strong sales, healthy ATPs (average... More

CFRA Upgrades General Motors (GM) to Hold

CFRA analyst Garrett Nelson upgraded General Motors (NYSE: GM) from Sell to Hold with a price target of $30.00 (from $28.00).

The analyst commented, "We increase our 12-month price target by $2 to $30, based on a '25 P/E of 4.2x, a steep but justified discount to historic averages. We... More

Verizon, 3M, General Electric, Coca-Cola rise premarket; Spotify, Barclays fall

Investing.com -- U.S. futures rose Tuesday, helped by falling bond yields ahead of quarterly earnings from some tech giants later in the session.

Here are some of the biggest premarket U.S. stock movers today:

General Electric (NYSE: GE) stock rose 5.1% after the conglomerate raised its full-year profit forecast on robust demand for jet engine spare parts and services and improved... More

General Motors (GM) beats for Q3 but withdraws 2023 guidance amid ongoing strikes

General Motors (NYSE: GM) gained 1% in early trading Tuesday after topping third-quarter results but the auto giant withdrew 2023 guidance as UAW strike costs continued to mount.

Revenue in the quarter rose 5.4% to $44.131 billion, topping the consensus of $42.62 billion. Adjusted EPS was $2.28, easily beating the consensus... More

GM withdraws 2023 guidance, UAW strikes SUV plant

By Joseph White

DETROIT (Reuters) -General Motors on Tuesday withdrew its 2023 profit outlook just ahead of a new United Auto Workers walkout at one of its most profitable factories.

With the UAW clash throttling revenue and profits, Chief Executive Mary Barra told investors the automaker will slow its electric vehicle strategy to put profits ahead of sales targets.

United Auto Workers President Shawn Fain ordered a walkout at the automaker's Arlington, Texas, factory, which builds highly profitable Cadillac Escalade, Chevrolet Suburban and other large SUVs. The move came less than four hours after GM posted better-than-expected third quarter... More

General Motors (GM) Tops Q3 EPS by 40c

General Motors (NYSE: GM) reported Q3 EPS of $2.28, $0.40 better than the analyst estimate of $1.88. Revenue for the quarter came in at $44.1 billion versus the consensus estimate of $42.62 billion.

For earnings history and earnings-related data on General Motors (GM) click here.

Microsoft, Alphabet earnings, Bitcoin, PMI data - what's moving markets

Investing.com -- Tech giants Microsoft and Alphabet (NASDAQ: GOOGL) lead the earnings slate later in the session Tuesday, while Bitcoin soared in anticipation of the approval of an ETF in the U.S.. European PMI data pointed to a region heading towards recession, offering the potential for downside surprises in the U.S. equivalent.

The weeks deluge of major tech earnings starts later Tuesday, with results due from both Microsoft and Google-parent Alphabet after the... More

General Motors (GM) Declares $0.09 Quarterly Dividend; 1.2% Yield

General Motors (NYSE: GM) declared a quarterly dividend of $0.09 per share, or $0.36 annualized.

The dividend will be payable on December 14, 2023, to stockholders of record on December 1, 2023, with an ex-dividend date of November 30, 2023.

The annual yield on the dividend is 1.2 percent.

For a... More

General Motors (GM) metal workers go on strike in Brazil

Workers in the metal industry at General Motors' (NYSE: GM) Brazilian facilities have made the decision to commence a strike beginning next Monday. Their decision to strike stems from their objection to the recent workforce reductions implemented by the U.S.-based automaker in the region.

According to reports from the... More

UAW expands strike against Stellantis, hitting pickup truck plant

By David Shepardson and Joseph White

WASHINGTON/DETROIT -The United Auto Workers (UAW) union went on strike at Chrysler-parent Stellantis's largest assembly plant on Monday, hitting the automaker's profitable RAM 1500 pickup truck production in a major expansion of the more than month-old strike.

The UAW, which is striking the three big Detroit automakers, blamed the latest walkout by 6,800 workers at the Michigan plant on Stellantis having the "worst proposal" on the table on wage increases, temporary worker pay and conversion to full time status as well as cost-of-living adjustments.

More than 40,000 union members working at Ford,... More

UAW Says 6,800 Members At Stellantis (STLA) Sterling Plant Join Strike - Bloomberg

UAW Says 6,800 Members At Stellantis (STLA) Sterling Plant Join Strike - Bloomberg

General Motors (GM) October weekly option implied volatility into quarter results

General Motors (NYSE: GM) October weekly call option implied volatility is at 68, November is at 46; compared to its 52-week range of 21 to 252 into the expected release of quarter results before the bell on October 24.

GM, Ford slip after UAW warns of more walkouts, analysts say deal is close

(Reuters) - Shares of U.S. automakers Ford Motor and General Motors slipped about 1% each in morning trade on Monday after the United Auto Workers (UAW) union warned of more walkouts unless a new labor deal is reached.

UAW President Shawn Fain said on Friday that the automakers had converged on a 23% wage hike, but told members there was "more to be won".

Though Fain... More

General Motors (GM) October weekly 29.50 straddle into quarter results

General Motors (NYSE: GM) October weekly 29.50 straddle is priced for a move of 6% into the expected release of quarter results before the bell on October 24.

General Motors (GM) October weekly 29.50 straddle into quarter results

General Motors (NYSE: GM) October weekly 29.50 straddle is priced for a move of 6% into the expected release of quarter results before the bell on October 24.