$55.67
GM Stock Factors
GM stock value fell slightly this week after a small increase last week. The small changes seen recently follow consistent growth in January that put GM stock value above the $50 per share mark.
General Motors reported fourth-quarter earnings on Wednesday, beating Wall Street expectations with $1.93 in adjusted earnings per share (versus $1.64 expected) and $37.5 billion in revenue (versus $36.12 billion expected). GM said that it expects to earn between $10 billion and $11 billion in adjusted pretax profits this year, or $4.50 to $5.25 per share.
The Q4 earnings beat last year’s results, which were impacted by the 2019 UAW labor strike.
GM China sales fell 6 percent during the 2020 calendar year to 2,901,102 units, with sales falling for Chevrolet and Baojun brands, and increasing for Buick, Cadillac, and Wuling.
Biden s federal fleet EV plan raises capacity questions
Alexa St. John
President Biden’s move to electrify all government vehicles could push forward charging infrastructure development.
WASHINGTON President Biden is looking to make all U.S. government vehicles electric an ambitious plan that underscores his administration s interest in mitigating climate change and bolstering U.S. manufacturing through electrification.
So far, there has been resounding support for Biden s order from industry leaders, policy makers and lobbyists. But there are some questions as to how realistic it is to manufacture these EVs in the U.S., and what the implications are for the industry.
$50.44
GM Stock Factors
GM stock value rose this week after a small slide last week, which followed two weeks of consistent growth to break the $50 per share mark.
Much of the upward momentum seen in the weeks prior is attributed to the automaker’s latest all-electric vehicle efforts, debuts, and strategy, which includes an in-depth presentation released during the Consumer Electronics Show (CES) tech conference. Highlights from the presentation include the launch of BrightDrop, a new business venture aimed at providing last-mile electric delivery solutions, software, and services to delivery and logistics companies.
BrightDrop EP1
The first BrightDrop product to market will be the EP1, an electrically assisted pallet with a 200-pound capacity and adjustable speed up to 3 mph. Following the EP1 will be the EV600, an electrically powered light commercial van incorporating GM’s Ultium batteries and drive motors, offering a max range of 250 miles and a GVWR of just under 10,000
General Motors has named a new UAW labor negotiator as longtime labor boss Scott Sandefur moves to a new role.
Doneen McDowell, 50, replaced Sandefur, 58, as vice president of General Motors North America Labor Relations effective Monday.
McDowell is currently the executive director for manufacturing SUV and Car Group. Sandefur will take over a new role as vice president of Manufacturing Workforce Strategy until he retires.
McDowell is the fourth woman to lead GM labor relations. Diana Tremblay was one of the most notable recent women to do so from 2006 through 2009. She negotiated the historic 2007 contract that created the VEBA, which is a UAW managed hourly retiree health care fund.