DETROIT – General Motors' U.S. vehicle sales increased 14.1% last year to represent the automaker's best year since 2019, prior to the impacts of the coronavirus pandemic and yearslong supply chain problems.The Detroit automaker on Wednesday reported sales of roughly 2.6 million vehicles in 2023, including 625,176 cars and...
Production of electric Rivian R1T pickup trucks on April 11, 2022 at the company's plant in Normal, Ill.Michael Wayland | CNBCShares of Rivian Automotive declined by almost 10% during early trading Tuesday after the company reported increased vehicle production during the fourth quarter but fewer deliveries than the previous...
New Kia cars are displayed on the sales lot at San Leandro Kia on May 30, 2023 in San Leandro, California.Justin Sullivan | Getty ImagesDETROIT – Sales of new vehicles in the U.S. are expected to increase slightly next year, as the automotive industry continues to normalize from the...
DETROIT – General Motors has cut the size of its Buick dealership network roughly in half in the U.S. through an ongoing voluntary buyout program, an executive told CNBC.The 1,000-store reduction aims to increase the amount of sales per location, or throughput, and profits at the remaining dealers, according...
Trevor Milton, founder of Nikola Corp., exits court in New York, US, on Monday, Sept. 12, 2022.Stephen Yang | Bloomberg | Getty ImagesNikola Founder Trevor Milton is set to be sentenced Monday in a New York courtroom on three charges related to defrauding investors of the embattled electric- and...
DETROIT — General Motors' plans to diversify its business through trendy industries such as ridesharing and other "mobility" ventures or startups have largely fallen flat since the automaker started investing in such growth areas in 2016.Cruise, its majority-owned autonomous vehicle subsidiary, is increasingly looking like it might be next.The...
UAW Local 5960 member Kimberly Fuhr inspects a Chevrolet Bolt EV during vehicle production on May 6, 2021, at the General Motors Orion Assembly Plant in Orion Township, Michigan.Steve Fecht for ChevroletDETROIT — General Motors plans to lay off about 1,300 workers in Michigan starting early next year due...
2026 Cadillac Vistiq EVCadillacDETROIT – Cadillac plans to round out its upcoming lineup of all-electric SUVs with a three-row vehicle called the Vistiq, a replacement for its current gas-powered XT6.The General Motors luxury brand on Thursday released images of the Vistiq, which is expected to be its fifth EV,...
Ford workers produce the electric F-150 Lightning pickup at the automaker's Ford Rouge Electric Vehicle Center on Dec. 13, 2022.Michael Wayland | CNBCDETROIT — Ford Motor will cut planned production of its all-electric F-150 Lightning pickup roughly in half next year, marking a major reversal after the automaker significantly...
United Auto Workers President Shawn Fain during an online broadcast updating union members on negotiations with the Detroit automakers on Oct. 6, 2023.ScreenshotDETROIT – The United Auto Workers has filed unfair labor practice charges with the National Labor Relations Board against Honda Motor, Hyundai Motor and Volkswagen, accusing the...