Tim Piechowski News Today

Michigan-based GM boosted its adjusted pre-tax profit projection for the year to $12.5 billion to $14.5 billion, from its previous range of $12 billion to $14 billion.

DETROIT (Reuters) -General Motors on Tuesday posted quarterly results that topped Wall Street targets and raised its annual forecast, citing stable pricing and demand for its gas-engine vehicles, sending shares up 4.9% in pre-market trading. “Our consumer has been remarkably resilient in this period of higher interest rates,” GM Chief Financial Officer Paul Jacobson said. Despite the company's struggles in China and with electric vehicles, strong vehicle pricing with gasolin...

A survey of North American equities heading in both directions

General Motors: "There ... is the reality that the pricing is staying stronger for longer than anybody anticipated," said Tim Piechowski, portfolio manager at ACR Alpine Capital Research in St. Louis, which owns GM shares.

Despite government investments and optimistic statements, challenges such as consumer demand, infrastructure limitations, and market adjustments are hindering the expected boom in electric vehicle sales.

Consumers turned away from plug-in vehicles in the latter half of 2023 thanks to their heftier price-tags compared with gasoline cars and worries about battery resilience, polls show.

Investment in capacity and technology development has outrun actual EV demand, boosting pressure on companies to cut costs.

While automakers and suppliers are betting big on future demand for electric vehicles, a near-term global slowdown is causing pain, including bankruptcies, scrapped initial public offerings and...

While automakers and suppliers are betting big on future demand for electric vehicles, a near-term global slowdown is causing pain, including bankruptcies, scrapped initial public offerings and production cuts. Investment in capacity and technology development has outrun actual EV demand, boosting pressure on companies to cut costs. GM previously cut EV production targets due to the slowing demand, but Barra told analysts GM was "encouraged" by industry forecasts that EV sales in the U...

By Hyunjoo Jin and David Shepardson (Reuters) -General Motors' Cruise robo-taxi unit could face fines and sanctions over its failure to disclose detai...