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The Latest Breaking News from Paul Jacobson

Awaiting Trump, US Auto Execs Further Temper EV Push

US auto giants signaled Wednesday they could further slow the ramp-up of electric vehicle production as Detroit awaits the arrival of a Trump administration eager to reverse key Biden climate initiatives.

International Business Times

General Motors announces huge layoffs ahead of potential turmoil

The move comes as the upcoming Trump administration plans sweeping changes.

The Street

Strong Auto Prices Lift GM Results As It Eyes China Revamp

General Motors reported strong earnings Tuesday on robust pricing as the Detroit giant said it was hopeful about returning to profitability in China and reiterated a flexible approach to EV investment.

International Business Times

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GM Pushes On With The Key To Its EV Future: Profits

General Motors has good news on the EV front after its 2024 Investor Day event. Meanwhile, Volkswagen tries again and Honda hedges its bets.

InsideEVs

This CFO Invested $1.1M in His Company's Stock After Earnings

CFO Paul Jacobson just made his first purchase of company stock in more than a year.

Barchart

Analysts revamp GM stock price targets after union deal, buyback

Here's what could happen next to shares of General Motors.

The Street

General Motors Cut Its 2024 EV Sales Goal Over Demand Concerns

According to GM Chief Financial Officer Paul Jacobson, the company trimmed its EV production expectations to 200,000-250,000.

InsideEVs

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General Motors Lifts 2024 Profit Forecast After Strong Q1

General Motors reported higher profits Tuesday thanks to continued strength in North America that offset a loss in its China business, enabling the carmaker to lift its forecast.

International Business Times

GM Knows It Loses Money On EVs But Plans To Fix That Next Year

The company's EV pretax margins are expected to improve significantly around the middle of the decade.

Motor1

GM Ditches Goal Of Building 400,000 EVs In North America Through Mid-2024

GM is reworking its North America EV strategy and will no longer challenge Tesla's lead in the US EV segment amid slowing EV sales growth, higher labor costs.

InsideEVs

Autoworkers strike cuts into GM earnings, company sees further loses if walkouts linger

A strike by autoworkers against General Motors is expected to cut the automaker's pretax earnings by $800 million this year, and another $200 million per week after that

The Independent UK

GM Having Difficulty Ramping Up EV Production, CFO Admits

GM CFO Paul Jacobson said the automaker had manufactured more than 1,000 Lyriq SUVs in July, which is still well below the automaker's initial expectations.

InsideEVs

GM Avoids Layoffs Thanks To 5,000 Employees Taking Voluntary Buyouts

The automaker wants to save $2 billion in costs by 2024.

Motor1

General Motors is offering buyouts in an effort to cut $2 billion in costs

The Detroit automaker says the buyouts will be offered to most U.S. salaried workers and some global executives.

WEKU

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Tribune News Service

GM cutting executive, white-collar jobs

A month after CEO Mary Barra said General Motors Co. was "not planning layoffs," the Detroit automaker is cutting a small number of executive-level and salaried jobs, The Detroit News has confirmed.

StockNews.com

1 Auto Stock to Buy Now and Hold for the Long Haul

The automobile industry struggled last year, but General Motors (GM) stood out as it reclaimed the top spot from Toyota and grew its sales by 2.5% year-over-year. The company has guided for a solid fiscal 2023 driven by the high demand for its current EV and ICE vehicles portfolio. Given…

Motor1

GM Posts Record Earnings In 2022, Plans $2B In Cost Cuts By 2024

The CFO is clear that layoffs are not part of the cost-cutting strategy.

Tribune News Service

GM says fourth battery plant 'very much on track,' envisions others

General Motors Co. is still planning a fourth battery plant and even more beyond that despite the reported breakup with supplier and partner LG Energy Solution.

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Tribune News Service

GM reports nearly $10 billion in profit in 2022 despite headwinds

General Motors Co. booked $9.9 billion in net income last year, down from 2021's $10 billion despite chronic supply chain woes, rising interest rates and a slowing economy.

AFP

GM profits rise after record quarter in North America

New York (AFP) - General Motors rode a strong performance in North America to higher fourth-quarter profits and said Tuesday that an easing in logistics problems has helped brighten its outlook for 2023.

Motor1

GM Expects EVs To Be Solidly Profitable With $50B Revenue In 2025

The company says it will increase its EV production to one million units annually across five North American assembly plants.

InsideEVs

GM Vows To Avoid "Opportunistic" EV Prices, Plays The Long Game

While consumers are still willing to pay a premium for EVs, according to research, GM will target similar prices to ICE vehicles, President Mark Reuss said.

Tribune News Service

GM tells investors its EV business will deliver profits by 2025

General Motor Co.'s electric vehicle portfolio will be profitable by 2025, executives told investors Thursday in New York, delivering what it called low- to mid-single-digit adjusted margins to the bottom line.

The Street

GM Causes a Big Splash

The Detroit giant has just made announcements that show its ambitions in the electric vehicle market.

AFP

GM confirms profit forecast despite 'challenging' environment

New York (AFP) - General Motors confirmed its full-year financial forecast Tuesday, lifting shares as it reported strong consumer demand in spite of a "challenging" environment with grinding inflation.

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