General Motors Company, Common Stock

Why Detroit failed in China

Detroit automakers like General Motors made a fortune selling cars to Chinese consumers after the Asian country opened its auto market. But Chinese firms have caught up with top names like BYD, Geely and Great Wall. Tech companies are jumping in too, including Li Auto, XPeng, Nio, Xiaomi, Huawei, Baidu, Tencent and Alibaba. One industry analyst said he expects Ford and GM to withdraw from the country in the next five years along with others such as Hyundai, Kia and Nissan.

Tariffs and timidity are driving US carmakers into a ditch

Biden''s Inflation Reduction Act aims to boost the economy and shift to zero-emission cars. Ford, GM struggle with EV targets. Tesla cuts workforce, US EV sales rise modestly. Biden plans tariffs on Chinese clean tech, facing challenges ahead.

GM’s Shares Surge 25% In 2024

It’s been a tough year for car stocks. Even Toyota (NYSE: TM), often viewed as the best-run car company in the world, saw its shares dip recently. However, its stock is up 19% year to date. That is well below the stock of America’s No.1 manufacturer. GM’s (NYSE: GM) shares have surged 26%. The S&P […] The post GM’s Shares Surge 25% In 2024 appeared first on 24/7 Wall St. .

Inside Tesla’s chaotic month of brutal layoffs

Elon Musk told staff on April 15 that Tesla planned to cut more than 10% of its workforce. On Monday, Tesla staff entered their fourth straight week of layoff notices. Here''s everything you need to know about what led to the layoffs and what''s happened since. Elon Musk is going through Tesla like a wrecking ball and heads are rolling left and right. In April, Musk turned his focus toward Tesla in a way some workers said they hadn''t seen since he dropped $44 billion on his Twitter purchase nearly two years ago — selling off a number of his Tesla shares in the process. On April 15, the Tesla CEO sent a late-night companywide email, notifying staff that the automaker planned to slash more than 10% of its workforce. Since Musk''s announcement, the layoffs at Tesla have been ongoing. Several executives at the company have departed and Tesla workers say morale is flagging. Here''s a rundown of what led to the layoffs and what''s happened since Tesla kicked off the cuts. Tesla faces headwinds Ahead of the layoffs, Tesla''s delivery numbers slumped , falling below Wall Street''s estimates.

The United Auto Workers faces a key test in the South with upcoming vote at Alabama Mercedes plant

TUSCALOOSA, Ala. (AP) — After 20 years at the Mercedes-Benz factory in Alabama, Brett Garrard said he is “not falling for the lies anymore” and will vote for a union. The company has repeatedly promised to improve pay and conditions, but Garrard said those promises have not materialized. “Mercedes claims that we’re a family, one team, one fight. But over the years, I’ve learned one thing: This is not how I treat my family,” Garrard said. A month after workers at a Volkswagen factory in Tennessee overwhelmingly voted to unionize , the United Auto Workers is aiming for a key victory at Mercedes-Benz in Alabama. More than 5,000 workers at the facility in Vance and a nearby battery plant will vote next week on whether to join the union. A win at Mercedes would be a major prize for the UAW, which is trying to crack union resistance in the Deep South, where states have lured foreign auto manufacturers with large tax breaks, lower labor costs and a nonunion workforce. Garrard, 50, and other workers supporting the union told The Associated Press that their concerns include stagnating pay that has not kept up with inflation, insurance costs, irregular work shifts and a sense of being disposable in a plant where they assemble luxury vehicles that can cost more than $100,000. “Yes, we’re Southern autoworkers, but we deserve autoworker pay,” Garrard said.

Another star traded away?! Peter Bendix has a plan for the Marlins (no, really!)

Ford Stock Analysis: Can a Hybrid Shift Overcome EV Growing Pains?

Ford (NYSE: F ) delivered respectable first-quarter results that missed Wall Street’s top line expectations and beat bottom-line forecasts. The automaker also kept its full-year guidance in place, leaving the market holding its breath about where Ford stock heads next. The auto industry isn’t running as strong as it once was, and government electric vehicle mandates keep undermining carmakers’ progress. The market for EVs isn’t anywhere near as big as starry-eyed analysts and politicians once believed and it is leading to wasteful, loss inducing operations. While Ford needs to put a smiley face on its EV efforts to satisfy regulators, it also puts more resources into gasoline-powered engines. That bodes well for Ford stock as consumers want the reliability the internal combustion engine brings. They are also more profitable vehicles, which will hasten Ford’s ongoing turnaround. Shifting Gears on EVs Ford delivered $42.8 billion in first-quarter revenue, just shy of analyst expectations of $42.9 billion.

The 3 Best Auto Stocks to Buy in May 2024

The auto sector is entering an exciting and more lucrative era. That’s because automakers are starting to charge subscription fees for high-tech services. I believe that these companies will soon also start offering to track the well-being of various components within vehicles in exchange for fees. Which may transform them into the one of the best auto stocks investors want to buy. Of course, for the owners of electric vehicles, keeping informed about the welfare and needs of their EV’s batteries is extremely important. As a result, I’m sure that many owners will be willing to pay to stay on top of those matters. Importantly, most consumers seem willing to pay monthly fees for services within their vehicles. But they often like to try out these services first. In July 2023, S&P polled roughly 4,500 consumers who had a free trial or a subscription for services within their vehicles. More than 80% of the respondents said they would consider purchasing subscription-based services in the future.

The 3 Most Undervalued Sleeper Stocks to Buy in May 2024

Despite the inflation concerns and the market ups and downs, 2024 will be a much better year for investors compared to 2023. The current market situation may not seem like it, but we’ve seen better days in the past few months. The earnings season is boosting the stock market, and the outlook could improve as we progress through the year. This is an ideal time to move away from the hot and attractive stocks and look at the undervalued sleeper stocks with high upside potential. An early-mover advantage can reap significant benefits for you. Here are three undervalued sleeper stocks that can be solid bets this month. With at least one rate cut anticipated in the year, the financial environment will improve, and these stocks could benefit. They are cheap and have a substantial upside. Let’s take a look at three undervalued sleeper stocks. General Motors (GM) Source: Jonathan Weiss / Shutterstock.com Legacy automaker General Motors (NYSE: GM ) isn’t new to the business, and the company has seen several market ups and downs.

GM to Retire the Chevrolet Malibu as Electric Vehicles Becomes Focus

The Chevrolet Malibu, the last midsize car made by a Detroit automaker, is heading for the junkyard.