Tag: GM

Electric Vehicle Market Share Plummets in First Quarter as Consumers Sour

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Tesla Showroom

Growth in sales for electric vehicles (EV) slowed in the first quarter of the year as consumers remained wary of the product even though growth in sales of new vehicles remained strong, leading to a drop in EV market share, according to The Associated Press.

Sales for new vehicles grew 5 percent in the first three months of the year, but EV sales grew only 2.7 percent as more consumers chose traditional vehicles due to cost and product concerns, according to the AP. The average sales price declined 3.6 percent year-over-year to $44,186 in March as dealers looked to offload built-up inventory.

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Top U.S. Automaker Reports $1.7 Billion Loss on Electric Vehicles in Fourth Quarter

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Marry Barra

General Motors reported a $1.7 billion loss on Tuesday in its fourth quarter earnings call in the production and sale of its electric vehicle line, despite having positive net income growth in the quarter.

The automaker’s net income for the fourth quarter rose 5.2% year-over-year to $2.1 billion despite a reduction in revenue over that time frame of 0.3%, according to GM’s fourth quarter earnings report. The losses on EVs accompany a $1.1 billion total loss from a six-week-long strike by the United Auto Workers that partially halted operations, with the union gaining a new work contract that could raise labor costs in the coming year, according to the company’s investor earnings call.

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UAW Expands Strike Against GM Hours After Reaching Deal with Rival Stellantis and Ford

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The United Auto Workers (UAW) union on Saturday expanded its strike against General Motors (GM) after it reached an agreement with its competitors on Wednesday and Saturday, the union confirmed in an X post.

The UAW and Stellantis (formerly Chrysler) reached a deal similar to the four-year agreement reached on Wednesday between Ford and the UAW, which provides a 25 percent pay increase and cost of living adjustments, as well as the ability to strike over plant closures. It was expected that GM would also make a deal with the union after Stellantis on Saturday, but instead employees at a Tennessee GM factory received orders to expand the company’s strike, the local union posted on X.

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UAW Announces New Strike at GM and Ford Plants

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The United Auto Workers (UAW) announced that they would be expanding their targeted strike to more manufacturing plants at noon on Friday following a failure to reach a new contract with automakers.

UAW announced that 7,000 more workers at two plants will join the strike at just Ford and General Motors, sparing Stellantis, as negotiations over new contracts continue to fail to reach a resolution, according to a UAW livestream Friday. The union last announced an expansion on Sept. 22 from just three plants to 41 across the U.S., with the new plants being split between Stellantis and GM, sparing Ford of more strikes after saying that the company had been more willing to cooperate in negotiations.

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Potential UAW Strike Looms in Michigan

The Center Square

Up to 146,000 United Auto Workers could strike starting this week if the Big Three auto companies don’t reach a new union contract agreement by 11:59 p.m. on Thursday. 

UAW Union President Shawn Fain has repeated his mantra “record profits mean record contracts.” He says Big Three executives at Ford, General Motors and Stellantis have received hefty pay raises while inflation has eaten away at UAW workers’ paychecks.

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GM Sputters from Another Plant Shutdown, UAW Prepares for Strike

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A recent supply chain snag for a General Motors light-duty truck plant may foreshadow further delays if the United Auto Workers decide to strike over unresolved contract issues in the near future.

“GM is actively working with our supplier to resolve the issues that have arisen so we can begin producing the vehicles that are in such high demand with our dealers and customers,” Fort Wayne Plant Executive Dennys Pimenta wrote to employees.

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‘Sustainable’ Electric Cars Are Getting Junked Over Minor Damage

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Insurers are being forced to write off many electric vehicles with only minor damage to battery packs, sending the batteries to scrap yards and hindering the climate benefits of going electric, Reuters reported.

Battery packs typically represent roughly half the cost of an electric vehicle, sometimes costing tens of thousands of dollars, often making it more economical for insurers to consider a car as totalled than replace a battery pack, according to Reuters. While many carmakers, including Ford and GM, told Reuters that their battery packs were repairable, many are unwilling to share key data with third-party insurers to help assess damage.

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Michigan Representative, GM Stump for Electric Vehicles Despite Environmental Impacts

The Center Square

A Michigan politician talked about how to boost electric vehicle adoption in a brief chat sponsored by General Motors and hosted by Axios.

Rep. Debbie Dingell, D-Ann Arbor, Michigan’s 12th Congressional District member who serves on the House Energy and Commerce Committee, touted subsidies via the Inflation Reduction Act and said that EVs are the “vehicle of the future.”

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Honda, GM Partner to Make ‘Affordable’ Electric Vehicles

The Center Square

General Motors (GM) and Honda plan to produce millions of “affordable” electric vehicles (EV) with prices of some popular models starting at around $30,000.

GM Director of Finance and Sales Communications David Caldwell told The Center Square that the collaboration will result in “a series of compact crossover EVs – the most popular vehicle segment globally.”

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Tennessee Board Approves $35M Grant to Retrain GM’s Spring Hill Employees as Part of $2B Deal to Produce Electric Cadillac Vehicles

Jason M. Reynolds

A state board on Tuesday approved a $35 million jobs training grant to encourage General Motors to retain workers at its Spring Hill plant as the company looks to invest approximately $2 billion to produce electric vehicles, including the Cadillac LYRIQ.

The State Funding Board approved the FastTrack Job Training Assistance Grant. More information is available here.

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Last of Lordstown Auto Parts Manufacturing Ends Two Months Early: More Layoffs to Follow

Andrew Shirley

The last manufacturing orders left for the rapidly shuttering Lordstown Auto Plant finished up on April 5. The project – metal stamping replacement parts for the Chevy Cruze – was slated to last until June, ensuring work for those few employees still not laid off.  With the job wrapping up early, the workers are facing an uncertain future. As previously reported: Since its opening in 1966, Lordstown, Ohio has been the backbone of the local economy. Providing plentiful high-paying jobs, working at the plant ensured, at a minimum, a direct entree to the middle-class regardless of education level. Thousands of workers were employed by the plant at its peak. Over time those numbers dropped to below 2,000. In 2019 alone, 1,633 Lordstown auto workers and 72 members of the facilities support staff have been laid off. The majority of these layoffs occurred between March and April. There are currently less than 100 workers still active at the plant but with the completion of this project, it is likely that they will be laid off in the coming weeks as well. According to UAW Local 1112 president Dave Green, the work that is being done is mostly administrative. “We are going through and cleaning…I’m currently working in material handling.…

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Beto Slams Trump Over Lordstown Comments During Visit to Ohio

Anthony Gockowski

During his recent visit to Ohio, 2020 Democratic hopeful Beto O’Rourke slammed President Donald Trump for his criticisms of Lordstown union leader David Green. Green is president of United Auto Workers Local 1112, which represents the workers at Lordstown’s General Motors plant. After the plant was unallocated earlier this month, Trump said Green “ought to get his act together and produce.” “The president with his actions has added insult to injury,” O’Rourke told NBC in a recent interview after meeting one-on-one with Green. “Not only has he done nothing to prevent this job loss, he actually blames the workers and their leadership in the UAW president here in 1112 for something GM and his administration caused.” O’Rourke went on to suggest that the Tax Cuts and Jobs Act “financed GM’s ability” to “move jobs elsewhere” and to “choose their shareholders over the community that has created their value.” “Not only has President Trump failed in his commitment and failed this town of Lordstown, he’s also done nothing to reverse the losses that we’ve seen here,” O’Rourke continued. O’Rourke said, as president, he would make sure the country’s “trade policies and our tax code” don’t “incentivize offshoring these jobs.” “GM pays…

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After 50 Years, Ohio’s Lordstown Assembly Complex Ceases Production

Andrew Shirley

COLUMBUS, Ohio– On Wednesday, with dignity and uncertainty, the workers of Lordstown Assembly Plant assembled their last vehicle. The plant will still make certain parts but the Chevy Cruze, which had been produced and assembled at the plant since 2011, will no longer be produced in Ohio. As previously reported, in November of last year General Motors, the plant’s current operators, announced that five plants across America would be permanently shut down, or, as they referred to it in their public statement:”unallocated.” The plan was met with immediate backlash. President Donald Trump personally decried the decision, demanding that GM find a way to keep these plants open. After months of failed negotiations between GM, the federal government, the Ohio state government, labor leaders, national unions, and other car manufacturers, GM officially began their mass layoffs on February 5. Wednesday, Lordstown became the first of the five plants to cease operations. Almost all of the 1,700 employees have been, or will be, laid off. GM maintains that the plant will remain in a “state of readiness” should they find cause to reopen it for a new operator. However, this remains unlikely. GM has made it clear that its future with the plant is over. The Lordstown plant workers are currently represented by…

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GM Pulls Trigger on Mass Layoffs Throughout the Country

Andrew Shirley

General Motors announced Monday that the long-dreaded nationwide mass layoffs finally began. In November of last year, GM announced that they intended to significantly scale back their workforce. Most jarring for many was their plan to close five manufacturing plants across the country, including the Lordstown Assembly complex in Warren, Ohio. Since then, there have been tireless negotiations aimed at getting GM to reverse this decision. President Donald Trump personally decried the decision, demanding that GM find a way to keep these plants open. When it became clear that there was no reversal in sight, legislators began seeking alternative companies to fill the void GM would leave. At one point, then-Ohio Governor John Kasich began tweeting directly to billionaire and Tesla Motors owner, Elon Musk, asking him to take over the plant. Despite Musk expressing an initial openness to the idea, nothing public has yet has come of the discussion. While GM claims the workforce cuts are across-the-board, it appears that’s not entirely accurate. The company’s operations in China, Mexico, and other overseas locations will not be reduced. In some cases, the numbers of workers will expand. Legislators, labor leaders, and everyday citizens have blasted the decision as yet another company outsourcing its…

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