General Motors reported a big boost in its net income for the second quarter of 2023 to more than $2.5 billion despite agreeing to pay almost $800 million connected to the Chevrolet Bolt EV and Bolt EUV recall and dealing with delays in producing some of its new electric vehicles. The $792 million charge was… Continue reading GM reports $2.5B in net income, boosts guidance, but takes hit from Bolt recall
Tag: Recalls
Amazon’s new page alerts buyers to recalled or unsafe products
/ Amazon has argued it’s not responsible for products other companies sell on its site, but now it’s adding a new layer to let customers know about recall and safety alerts. By Umar Shakir, a news writer fond of the electric vehicle lifestyle and things that plug in via USB-C. He spent over 15 years… Continue reading Amazon’s new page alerts buyers to recalled or unsafe products
GM confirms Ultium-based Chevy Bolt EV is coming, beats Q2 estimates
After hitting its goal of producing 50K EVs in the first half of 2023, General Motors (GM) says it expects the momentum to continue in the second half of the year. Most importantly, GM CEO Mary Barra finally confirmed an Ultium-based Bolt EV (Boltium!) is coming. GM beats Q2 estimates, Ultium-based Bolt EV coming General… Continue reading GM confirms Ultium-based Chevy Bolt EV is coming, beats Q2 estimates
General Motors raises full-year guidance, announces deeper cost-cutting
Mary Barra, CEO, GM at the NYSE, November 17, 2022. Source: NYSE DETROIT — General Motors is raising its 2023 guidance for a second time this year after the automaker reported second-quarter results Tuesday that were up sharply year over year. The Detroit automaker also said it is increasing cost-cutting measures through next year and… Continue reading General Motors raises full-year guidance, announces deeper cost-cutting
New Chevy Bolt on the way, GM’s Barra says
The Chevrolet Bolt isn’t going away after all. During a second-quarter earnings call Tuesday, General Motors Co. CEO Mary Barra announced the coming of a next-generation Bolt — a lower-priced electric vehicle that GM previously planned to stop producing later this year. “Our customers love today’s Bolt. It has been delivering record sales and some… Continue reading New Chevy Bolt on the way, GM’s Barra says
Two-thirds of dealers worried about future margin erosion
Two-thirds of car dealers (66%) are worried about future margin erosion affecting their business. Startline’s July Used Car Tracker shows the biggest concerns are high values of used cars squeezing margins (mentioned by 66%), cost of electrification such as installing chargers (52%) and rising staffing costs (52%). Other major worries include increasing difficulties surrounding compliance… Continue reading Two-thirds of dealers worried about future margin erosion
Forbes Names AAM a “Best Employer for New Graduates” in 2023
AAM Terms of Use & Privacy Policy Terms of Use ATTENTION: PLEASE READ THESE TERMS CAREFULLY BEFORE USING THIS WEBSITE. USING THIS WEBSITE INDICATES THAT YOU ACCEPT THESE TERMS. IF YOU DO NOT ACCEPT THESE TERMS (“TERMS”), DO NOT USE THIS SITE. Use of AAM Website American Axle & Manufacturing, Inc. and/or its respective… Continue reading Forbes Names AAM a “Best Employer for New Graduates” in 2023
Erisha E Mobility partners with Lakshmi India Finance for EV financing
Erisha E Mobility and Lakshmi India Finance have recently signed an MoU agreement for EV financing. The collaboration aims to provide loan facilities to potential customers in Rajasthan, Madhya Pradesh, and Gujarat, who wish to purchase electric three-wheelers manufactured by Erisha E Mobility. Ravindra Singh Khaneja, the Zonal Head of Erisha E Mobility, said that… Continue reading Erisha E Mobility partners with Lakshmi India Finance for EV financing
GM Releases 2023 Second-Quarter Results and Raises Full-Year Earnings Guidance
DETROIT, July 25, 2023 /PRNewswire/ — General Motors Co. (NYSE: GM) today reported second-quarter 2023 revenue of $44.7 billion, net income attributable to stockholders of $2.6 billion and EBIT-adjusted of $3.2 billion. The results include a $792 million charge for new commercial agreements GM has with LG Electronics and LG Energy Solution. The charge reflects the conscious… Continue reading GM Releases 2023 Second-Quarter Results and Raises Full-Year Earnings Guidance
Maruti Suzuki recalls 87,599 S-Pressos and Eeco vans to inspect steering tie rod
Maruti Suzuki India has issued a recall notice for a total of 87,599 vehicles comprising the entry level S-Presso hatchback and the Eeco van. The model-wise split of the recall has not been given by the company. As per the company, the recall-impacted vehicles have been manufactured between July 5, 2021 and February 15, 2023.… Continue reading Maruti Suzuki recalls 87,599 S-Pressos and Eeco vans to inspect steering tie rod