$110 billion in revenue and
3.9 million production vehicles this year due to the semiconductor shortage.
Ford announced shift reductions and additional downtime for two plants in Michigan and Kentucky for the week of May 24, impacting production of the
F-150, and the Escape and Lincoln Corsair SUVs.
A record 10% increase in
used vehicle prices between March and April accounted for approximately one-third of the overall rise in the most recent Consumer Price Index.
The
Mexican Labor Ministry invalidated a union vote at a GM plant in Silao after
United States Trade Representative Katherine Tai asked the Mexican government to examine allegations that employees’ rights were denied; this marks the first time the federal government initiated an action under the USMCA’s labor dispute enforcement tool.
$57.36
By comparison, shares of GM’s cross-town rival, Ford Motor Company, were stable during the same timeframe.
GM Stock Factors
GM stock value fell this week after a 3-percent gain last week and stable performance the week prior.
The recent activity follows a 10-percent gain in March, during which GM stock values crossed the $60-per-share mark, an all-time high for the “new GM,” as well as consistent growth in January that put GM stock value above the $50 per share mark.
The gains seen earlier in April were driven primarily by confirmation of an upcoming all-electric iteration of the popular Chevy Silverado pickup truck. GM stock value hit a record high of $63.44 per share following the announcement.
$56.71
By comparison, shares of GM’s cross-town rival, Ford Motor Company, increased 2.4 percent, or $0.28, during the same timeframe.
GM Stock Factors
GM stock value increased this week after stable performance last week and minor losses and gains in weeks prior.
The recent activity follows a dramatic 10-percent gain in March, during which GM stock values crossed the $60-per-share mark, an all-time high for the “new GM,” as well as consistent growth in January that put GM stock value above the $50 per share mark.
The gains seen earlier in April were driven primarily by confirmation of an upcoming all-electric iteration of the popular Chevy Silverado pickup truck. GM stock value hit a record high of $63.44 per share following the announcement.
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General Motors has renamed its Detroit-Hamtramck Assembly plant in Michigan ‘Factory Zero’ as it transforms the site into its first dedicated electric vehicle plant.
“General Motors today announced its Detroit-Hamtramck Assembly Center will be known as Factory Zero, reconfigured to an all-electric vehicle assembly plant,” the automaker said in a prepared statement. “The name Factory Zero reflects the significance of this facility in advancing GM’s zero-crashes, zero-emissions and zero-congestion future”
GM is investing a massive $2.2 billion into Factory Zero for retooling and various other upgrades – the single largest investment the company has ever made into a manufacturing facility at one time. Both the GMC Hummer EV SUT and SUV will be built at Factory Zero, along with the new Cruise Origin robotaxi. Other GM EVs will also be built at the plant, the automaker said, but it has not confirmed any beyond the Hummer EV and Origin.
$57.65
By comparison, shares of GM’s cross-town rival, Ford Motor Company, fell 5.5 percent, or $0.68, during the same timeframe.
GM Stock Factors
GM stock value was stable this week after several weeks of minor losses and gains. The recent activity follows a dramatic 10-percent gain last month, during which GM stock values crossed the $60-per-share mark on March 17
th, an all-time high for the “new GM,” as well as consistent growth in January that put GM stock value above the $50 per share mark.
The gains seen earlier in April were driven primarily by confirmation of an upcoming all-electric iteration of the popular Chevy Silverado pickup truck. GM stock value hit a record high of $63.44 per share following the announcement.