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General Motors Co (GM.N)

GM.N on New York Stock Exchange

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14 Jun 2019
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Latest Key Developments (Source: Significant Developments)

GM Says It Intends To Develop An Airless Wheel Assembly With Michelin
Tuesday, 4 Jun 2019 12:27pm EDT 

June 4 (Reuters) - General Motors Co ::GM - LATER THIS YEAR, WILL INITIATE REAL-WORLD TESTING AND VALIDATION OF THE UPTIS PROTOTYPE ON A MICHIGAN TEST FLEET OF CHEVROLET BOLT EVS..GM - INTENDS TO DEVELOP AIRLESS WHEEL TECHNOLOGY, MICHELIN UPTIS PROTOTYPE, WITH MICHELIN & AIMS TO INTRODUCE IT ON PASSENGER VEHICLES AS EARLY AS 2024.  Full Article

UAW Issues Statement In Response To GM Announcement
Wednesday, 8 May 2019 12:28pm EDT 

May 8 (Reuters) - United Automobile Workers::UAW ISSUES STATEMENT IN RESPONSE TO GM ANNOUNCEMENT.UAW, IN RESPONSE TO GM ANNOUNCEMENT SAYS ITS POSITION IS GM "SHOULD ASSIGN A PRODUCT TO THE LORDSTOWN FACILITY AND CONTINUE OPERATING IT".  Full Article

GM's South Korea Unit Says April Sales Up 1.7 Percent Y/Y
Thursday, 2 May 2019 01:01am EDT 

May 2 (Reuters) - General Motors Co ::REPORTS APRIL SALES OF 39,242 UNITS.SAYS APRIL SALES UP 1.7 PERCENT Y/Y.  Full Article

GM CEO says company to make electric pickup, declines to provide more details
Tuesday, 30 Apr 2019 08:01am EDT 

April 30 (Reuters) - General Motors Co on earnings conference call::CEO SAYS COMPANY INTENDS TO MAKE ELECTRIC FULL-SIZE PICKUP TRUCKS, BUT DECLINED TO PROVIDE MORE DETAILS.CFO SAYS COMPANY IS REDUCING INVENTORIES IN CHINA BY TAKING DOWN PRODUCTION THERE.CFO SAYS FULL-YEAR HEAVY-DUTY PICKUP VOLUMES WILL BE FLAT YEAR OVER YEAR DUE TO DOWNTIME DURING LAUNCH OF NEW MODEL.CFO SAYS COMPANY EXPECTS DIVIDEND FROM GM FINANCIAL THIS YEAR TO BE ABOUT $375 MILLION, FLAT VERSUS 2018.  Full Article

GM Reports Q1 GAAP Earnings Of $1.48 Per Share
Tuesday, 30 Apr 2019 08:00am EDT 

April 30 (Reuters) - General Motors Co ::QUARTERLY GAAP EARNINGS PER SHARE $1.48.QUARTERLY ADJUSTED EARNINGS PER SHARE $1.41.QUARTERLY GAAP NET REVENUE $34.9 BILLION, DOWN 3.4%.Q1 EARNINGS PER SHARE VIEW $1.11, REVENUE VIEW $35.28 BILLION -- REFINITIV IBES DATA.GM CEO MARY BARRA SAYS "MY CONFIDENCE IN THE YEAR AHEAD REMAINS STRONG", DRIVEN BY FULL-SIZE TRUCK LAUNCH, ONGOING BUSINESS TRANSFORMATION.SAYS DELIVERED MORE THAN 665,000 VEHICLES IN Q1 IN U.S..SAYS CO, ITS JVS DELIVERED NEARLY 814,000 VEHICLES IN CHINA IN Q1.GM SAYS EXPECT TO ACHIEVE ITS 2019 ADJUSTED. AUTO FREE CASH FLOW GUIDANCE.SAYS IN GM NORTH AMERICA, QUARTERLY MARKET SHARE DECLINED PRIMARILY DUE TO LOWER PASSENGER CAR SALES, TRANSITION TO NEW LIGHT-DUTY PICK UP TRUCK.QUARTERLY CHINA MARKET SHARE DECLINED PRIMARILY DUE TO SEGMENT SHIFTS AND THE WIND DOWN OF OUTGOING MODELS.Q1 ADJUSTED. EPS BENEFITED $0.31 FROM LYFT AND PSA REVALUATIONS.Q1 U.S. MARKET SHARE OF 16.1% VERSUS 17% LAST YEAR.SAYS IN GMI, REDUCED CHINA EQUITY INCOME IN QUARTER DUE TO LOWER VOLUMES DRIVEN BY INDUSTRY SLOWDOWN, PRICING PRESSURE.SAYS IN CHINA, TOOK ACTIONS TO MITIGATE INDUSTRY DECLINE IN Q1 BY REDUCING PRODUCTION BY ABOUT 20%.SAYS IN CHINA, EXPECT ADDITIONAL INVENTORY ACTIONS IN Q2; SEES H2 TAILWINDS RELATED TO ABOUT 20 VEHICLE LAUNCHES.SAYS IN CHINA, CONTINUE TO EXPECT 2019 EQUITY INCOME TO BE MODERATELY LOWER THAN 2018.SAYS AVAILABLE LIQUIDITY AS OF MARCH 31, 2019 IN LINE WITH $30 BILLION TO $35 BILLION TARGET.  Full Article

GM Sets Quarterly Dividend Of $0.38 Per Share
Monday, 29 Apr 2019 03:04pm EDT 

April 29 (Reuters) - General Motors Co ::SETS QUARTERLY DIVIDEND OF $0.38PER SHARE.  Full Article

GM says To Add Second Shift Bowling Green Assembly Plant
Thursday, 25 Apr 2019 03:32pm EDT 

April 25 (Reuters) - General Motors Co ::GM TO ADD SECOND SHIFT AND MORE THAN 400 HOURLY JOBS AT BOWLING GREEN (KY.) ASSEMBLY PLANT.GENERAL MOTORS CO - ADDITION OF THE SECOND SHIFT WILL INCREASE BOWLING GREEN (KENTUCKY) ASSEMBLY PLANT’S WORKFORCE TO MORE THAN 1,300..GM - ADDING SECOND SHIFT, MORE HOURLY JOBS AT BOWLING GREEN PLANT TO SUPPORT PRODUCTION OF NEXT GENERATION CORVETTE, WHICH WILL BE REVEALED ON JULY 18.  Full Article

GM Says CEO Barra's 2018 Total Compensation Was $21.87 Mln
Thursday, 18 Apr 2019 03:30pm EDT 

April 18 (Reuters) - General Motors Co ::GM SAYS CEO MARY BARRA'S 2018 TOTAL COMPENSATION WAS $21.87 MILLION VERSUS $21.96 MILLION IN 2017.GM SAYS RATIO OF CEO'S 2018 COMPENSATION TO THAT OF MEDIAN EMPLOYEE IS ESTIMATED TO BE 281:1.GM SAYS CFO DHIVYA SURYADEVARA'S 2018 TOTAL COMPENSATION WAS $5.5 MILLION.GM SAYS PRESIDENT DANIEL AMMANN'S 2018 TOTAL COMPENSATION WAS $9 MILLION VERSUS $9.3 MILLION IN 2017.GM SAYS MICHAEL MULLEN AND JAMES MULVA WILL NOT BE STANDING FOR REELECTION AT THE ANNUAL MEETING.GM SAYS SHAREHOLDERS FILED PROPOSAL REQUESTING BOARD TO ADOPT POLICY THAT REQUIRES CHAIR OF BOARD BE AN INDEPENDENT MEMBER OF BOARD.  Full Article

GM says To Invest $1.8 Bln In U.S. Manufacturing Operations
Friday, 22 Mar 2019 10:27am EDT 

March 22 (Reuters) - General Motors Co ::GM TO INVEST $300 MILLION, ADD 400 JOBS AT MICHIGAN PLANT FOR NEW CHEVROLET ELECTRIC VEHICLE.NEW CHEVROLET ELECTRIC VEHICLE IS IN ADDITION TO THE EXISTING CHEVROLET BOLT EV.NEW CHEVROLET EV IS IN ADDITION TO EARLIER ANNOUNCEMENT THAT CADILLAC WILL BE THE FIRST BRAND TO GET VEHICLES OFF A FUTURE EV PLATFORM.COMPANY ALSO ANNOUNCES TOTAL NEW INVESTMENT COMMITMENT OF $1.8 BILLION IN ITS U.S. MANUFACTURING OPERATIONS ACROSS SIX STATES.ADDITIONAL PRODUCT INFORMATION AND TIMING FOR THE NEW CHEVROLET EV WILL BE RELEASED CLOSER TO PRODUCTION.HAS JOB OPPORTUNITIES AT MANY OTHER U.S. MANUFACTURING PLANTS FOR VIRTUALLY U.S. HOURLY EMPLOYEES IMPACTED BY ANNOUNCEMENT OF UNALLOCATED PLANTS.  Full Article

Fox Corporation Names Jeff Taylor Executive Vice President And Chief Litigation Counsel
Friday, 22 Mar 2019 09:00am EDT 

March 22 (Reuters) - Fox Corp ::FOX CORPORATION NAMES JEFF TAYLOR EXECUTIVE VICE PRESIDENT AND CHIEF LITIGATION COUNSEL.FOX CORP - TAYLOR MOST RECENTLY SERVED AS DEPUTY GENERAL COUNSEL AND CHIEF COMPLIANCE OFFICER FOR GENERAL MOTORS CO.  Full Article

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VW's Tennessee workers vote against union representation

CHATTANOOGA, Tenn. Workers at Volkswagen AG's assembly plant in the state of Tennessee narrowly voted against union representation, dealing a fresh blow to the United Auto Workers' (UAW) efforts to unionize a foreign automaker's plant in the U.S. South.