GM Defense Canada Anticipates Delivery of First Vehicles Five Weeks After Contract AwardOSHAWA, ON, July 23, 2024 /PRNewswire/ -- GM Defense Canada, a subsidiary of GM Defense, has been awarded a C$35.8 million contract by the Canadian Armed Forces (CAF) for 90 light tactical vehicles (LTVs), with an option to procure up to an additional 18 LTVs. GM Defense Canada will also deliver training, technical manuals and additional vehicle content sourced from Canadian companies.GM Defense Canada to leverage its li ...

GM's 2024 Chevrolet Equinox EV during a media launch event for the vehicle in Detroit, May 16, 2024.DETROIT – General Motors said Tuesday it is again slowing its plans for all-electric vehicles by further delaying a second U.S. electric truck plant and the Buick brand's first EV.The six-month delay in building the electric truck plant in Michigan, until mid-2026, also means GM will not achieve a prior target of having North American production capacity of 1 million EVs by 2025."We are committed to growing r ...

General Motors (NYSE:GM) stock rose overnight after it beat estimates, raised guidance, and paused work on the Cruise Origin robotaxi, which doesn’t have a steering wheel. However, after the markets opened, the stock tanked 2.5% and is still falling as of this writing.GM reported net income of $2.9 billion, $3.06 per share diluted and adjusted, on revenue of almost $49 billion. It guided a full-year net income of $10 billion to $11.4 billion, earnings of $8.93 to $9.93 per share, and operating cash flows of ...

GM's EV ambitions are slowing but that will be good for the bottom line.General Motors (GM 2.61%) isn't going to hit its goal of 1 million electric vehicles (EVs), but that may not be bad for investors. The company makes most of its money selling trucks and SUVs, so EVs hurt the bottom line.In this video, Travis Hoium shows GM's free-cash-flow trends compared to EV competitors and why going all-in on EVs right now may be a bad move.*Stock prices used were end-of-day prices of July 17, 2024. The video was pu ...

General Motors (GM) came out with quarterly earnings of $3.06 per share, beating the Zacks Consensus Estimate of $2.67 per share. This compares to earnings of $1.91 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 14.61%. A quarter ago, it was expected that this an automotive manufacturer would post earnings of $2.08 per share when it actually produced earnings of $2.62, delivering a surprise of 25.96%.Over the last four quarte ...

Exhibit 99.1 News For Release: Tuesday, July 23, 2024, at 6:30 a.m. ET GM Releases 2024 Second-Quarter Results and Raises Full-Year Guidance DETROIT – General Motors Co. (NYSE: GM) today reported second-quarter 2024 revenue of $48.0 billion, net income attributable to stockholders of $2.9 billion and EBIT-adjusted of $4.4 billion. GM is also updating its 2024 full-year earnings guidance for the second consecutive quarter: Net income attributable to stockholders $10.0 billion - $11.4 billion $10.1 billion - ...

DETROIT – General Motors is indefinitely delaying production of its Origin autonomous vehicle as its embattled Cruise self-driving unit attempts to relaunch operations.The Detroit automaker said Tuesday its majority-owned robotaxi unit will instead focus on using the next-generation Chevrolet Bolt for development of autonomous vehicles. Cruise has been using now-discontinued Bolts for autonomous vehicle development for several years.GM CEO Mary Barra, who leads Cruise's board, said in a letter to shareholde ...

DETROIT, July 23, 2024 /PRNewswire/ -- General Motors Co. (NYSE: GM) today reported second-quarter 2024 revenue of $48.0 billion, net income attributable to stockholders of $2.9 billion and EBIT-adjusted of $4.4 billion.GM is also updating its 2024 full-year earnings guidance for the second consecutive quarter:Updated 2024 Guidance Previous 2024 Guidance Net income attributable to stockholders $10.0 billion - $11.4 billion $10.1 billion - $11.5 billion EBIT-adjusted $13.0 billion - $15.0 billion $12.5 billi ...

GM’s self-driving car subsidiary Cruise is scrapping plans to build the Origin  — a purpose-built robotaxi with no steering wheel or pedals — and will instead use the next-generation Chevrolet Bolt in its operations.GM Chair and CEO Mary Barra told shareholders Tuesday the decision will “simplify their path to scale” and addresses the regulatory uncertainty faced with the Origin robotaxi because of its unique design. The per-unit costs will also be much lower, which will help Cruise optimize its resources, ...

A GMC pickup truck is displayed for sale on a lot at a General Motors dealership in Austin, Texas, on Jan. 5, 2023.DETROIT — General Motors is set to report second-quarter results before the bell Tuesday.Wall Street expects GM to be the standout among the traditional Detroit automakers, with sales and vehicle prices stable during the first half of the year for America's largest carmaker.Here is what analysts expect, according to average estimates compiled by LSEG:Earnings per share: $2.75 adjustedRevenue: $ ...