Core Insights - NHTSA is launching a probe into General Motors Co. trucks and SUVs due to potential engine failure issues related to the 6.2-liter L87 V-8 engines [1][2] Group 1: Engine Failure Probe - The U.S. auto safety regulator is expanding its investigation based on 1,157 reports of engine bearing failures, affecting over 286,051 units [2] - The affected models include the 2019-2024 Chevrolet Silverado 1500, GMC Sierra 1500, and several other models including the Chevrolet Suburban and Cadillac Escalade [3] Group 2: Electric Vehicle Strategy - GM's CEO Mary Barra emphasized that electric vehicles (EVs) are the company's "North Star" during the third-quarter earnings call [4] - The company acknowledged a significant decline in EV demand in the U.S. following the end of the Federal EV credit [4] - GM has taken a $1.6 billion charge related to EVs, including over $1.2 billion for capacity adjustments and $0.4 billion from contract cancellations [5] Group 3: Competitive Landscape - Ford's CEO Jim Farley reported that tariffs imposed by the Trump administration have cost Ford up to $2 billion, impacting over 20% of its global profits [6] - GM is noted to have satisfactory momentum and value metrics, with a favorable price trend in the short, medium, and long terms [7]
NHTSA Begins Probe Into 286,000 GM Trucks And SUVs Over Engine Failure Issue - Ford Motor (NYSE:F), General Motors (NYSE:GM)