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The Latest Breaking News from Paul Jacobson

Trump Tempers Auto Tariffs, Winning Cautious Praise From Industry

Trump signed an executive order to limit the impact of overlapping tariffs on automakers. He also released a proclamation that gives the industry a two-year grace period to move supply chains back to the United States and reduce "American reliance on imports of foreign automobiles and their parts."

International Business Times

Stock Market Today: Stocks Extend a Quiet Winning Streak

The S&P 500 Index could actually close April with a monthly gain, which would be an extraordinary sign of market resilience.

Kiplinger

Trump Signals Relief On Auto Tariffs As Industry Awaits Details

The White House said Tuesday it will soften tariffs on automakers, sparking optimism in Detroit whose car manufacturing industry has been on tenterhooks awaiting details on President Donald Trump's fast-evolving policy.

International Business Times

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At Tesla's Q4 Earnings Call, The Check Is Due

Elon Musk is a very busy man. These days, his interests are varied and multi-faceted. He's focused on the AI race, cutting government spending in Washington D.C., advising President Donald Trump on just about everything of import, gaming, posting on his social media platform, space travel, and... whatever that was…

InsideEVs

GM 2025 Profit Forecast Clouded By Trump Policy Unknowns

General Motors faced questions Tuesday about the impact of potential moves by the Trump administration targeting trade and the environment, with the uncertainty overshadowing the company's latest results.

International Business Times

Auto Industry Urges Trump: 'Preserve The Tax Credits'

A week after the U.S. elections, the country's top auto industry lobbying group wrote a letter to President-elect Donald Trump. It had a clear message: Don't mess with the electric vehicle tax credits. Of course, the group attempted to strike a far more subtle and diplomatic tone. But the urgency…

InsideEVs

Awaiting Trump, US Auto Execs Further Temper EV Push

US auto giants signaled Wednesday they could further slow the ramp-up of electric vehicle production as Detroit awaits the arrival of a Trump administration eager to reverse key Biden climate initiatives.

International Business Times

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Strong Auto Prices Lift GM Results As It Eyes China Revamp

General Motors reported strong earnings Tuesday on robust pricing as the Detroit giant said it was hopeful about returning to profitability in China and reiterated a flexible approach to EV investment.

International Business Times

GM Pushes On With The Key To Its EV Future: Profits

General Motors has good news on the EV front after its 2024 Investor Day event. Meanwhile, Volkswagen tries again and Honda hedges its bets.

InsideEVs

This CFO Invested $1.1M in His Company's Stock After Earnings

CFO Paul Jacobson just made his first purchase of company stock in more than a year.

Barchart

General Motors Cut Its 2024 EV Sales Goal Over Demand Concerns

According to GM Chief Financial Officer Paul Jacobson, the company trimmed its EV production expectations to 200,000-250,000.

InsideEVs

General Motors Lifts 2024 Profit Forecast After Strong Q1

General Motors reported higher profits Tuesday thanks to continued strength in North America that offset a loss in its China business, enabling the carmaker to lift its forecast.

International Business Times

GM Knows It Loses Money On EVs But Plans To Fix That Next Year

The company's EV pretax margins are expected to improve significantly around the middle of the decade.

Motor1

GM Ditches Goal Of Building 400,000 EVs In North America Through Mid-2024

GM is reworking its North America EV strategy and will no longer challenge Tesla's lead in the US EV segment amid slowing EV sales growth, higher labor costs.

InsideEVs

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The Independent UK

Autoworkers strike cuts into GM earnings, company sees further loses if walkouts linger

A strike by autoworkers against General Motors is expected to cut the automaker's pretax earnings by $800 million this year, and another $200 million per week after that

InsideEVs

GM Having Difficulty Ramping Up EV Production, CFO Admits

GM CFO Paul Jacobson said the automaker had manufactured more than 1,000 Lyriq SUVs in July, which is still well below the automaker's initial expectations.

Motor1

GM Avoids Layoffs Thanks To 5,000 Employees Taking Voluntary Buyouts

The automaker wants to save $2 billion in costs by 2024.

WEKU

General Motors is offering buyouts in an effort to cut $2 billion in costs

The Detroit automaker says the buyouts will be offered to most U.S. salaried workers and some global executives.

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news in one place.

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Tribune News Service

GM cutting executive, white-collar jobs

A month after CEO Mary Barra said General Motors Co. was "not planning layoffs," the Detroit automaker is cutting a small number of executive-level and salaried jobs, The Detroit News has confirmed.

StockNews.com

1 Auto Stock to Buy Now and Hold for the Long Haul

The automobile industry struggled last year, but General Motors (GM) stood out as it reclaimed the top spot from Toyota and grew its sales by 2.5% year-over-year. The company has guided for a solid fiscal 2023 driven by the high demand for its current EV and ICE vehicles portfolio. Given…

Motor1

GM Posts Record Earnings In 2022, Plans $2B In Cost Cuts By 2024

The CFO is clear that layoffs are not part of the cost-cutting strategy.

Tribune News Service

GM says fourth battery plant 'very much on track,' envisions others

General Motors Co. is still planning a fourth battery plant and even more beyond that despite the reported breakup with supplier and partner LG Energy Solution.

Tribune News Service

GM reports nearly $10 billion in profit in 2022 despite headwinds

General Motors Co. booked $9.9 billion in net income last year, down from 2021's $10 billion despite chronic supply chain woes, rising interest rates and a slowing economy.

Motor1

GM Expects EVs To Be Solidly Profitable With $50B Revenue In 2025

The company says it will increase its EV production to one million units annually across five North American assembly plants.

InsideEVs

GM Vows To Avoid "Opportunistic" EV Prices, Plays The Long Game

While consumers are still willing to pay a premium for EVs, according to research, GM will target similar prices to ICE vehicles, President Mark Reuss said.

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