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What did GM announce today?

What did GM announce today?

Today, General Motors (NYSE: GM) and INRIX Inc., a world leader in mobility analytics and connected car services, announced a collaboration to develop safety solutions to help transportation and planning agencies achieve road safety goals.

What is happening to GM?

G.M. expects production to return to normal this year as a chip shortage eases. The company made $10 billion in profit for 2021, a 55 percent increase from 2020.

Is General Motors going out of business?

General Motors filed for bankruptcy early Monday, marking the end of an era for GM, as the troubled automaker now represents the largest bankruptcy in history.

Is GM stock a buy?

GM trades for six times projected earnings of about $7 a share in both 2022 and 2023, one of the S&P 500 SPX –1.63% index’s lowest price/earnings ratios. Its market cap of $60 billion compares with $1 trillion for Tesla (TSLA). “The stock is very attractive.

Who is GM partnering with for batteries?

LG Chem
GM’s current battery supplier, LG Chem, has a factory in Holland, Michigan, that could be expanded. It is part of GM’s promise to launch more than 30 EVs globally by 2025 and invest $35 billion in electric vehicle and autonomous vehicle product development by 2025.

Who is in the new GM commercial?

The winning spot was the brainchild of GM’s ad agency, McCann Detroit. The spot, which GM tweeted a tease of on Monday, harkens back to the three “Austin Powers” movies, the last of which was released 20 years ago, and stars: Mike Myers, Rob Lowe, Mindy Sterling, and Seth Green reprising their roles from the movies.

Why is GM falling?

Shares of General Motors GM +0.81% were falling Tuesday after the car maker caught a downgrade from Wall Street. Morgan Stanley analyst Adam Jonas has concerns about GM’s ability to transition to an all-electric future.

Are auto makers catching up?

Despite high demand from consumers who needed cars, auto manufacturers built 1.7 million fewer vehicles in 2021 than in 2019, the last full year before the pandemic. And the war in Ukraine has disrupted the global supply of neon gas, which is used to make semiconductors.

How Long Will GM survive?

General Motors said Thursday that it would phase out petroleum-powered cars and trucks and sell only vehicles that have zero tailpipe emissions by 2035, a seismic shift by one of the world’s largest automakers that makes billions of dollars today from gas-guzzling pickup trucks and sport utility vehicles.

Is General Motors making money?

Data obtained from GM’s 10K annual report from 2020. GM Revenue from Sales for the Nine Months Ending Sept. 30, 2021. Data obtained from GM’s quarterly report from 2021….Major Drivers.

GM’s Full-Year 2020 EBIT
GMNA GMI GM Financial
$9.10B (0.5)B $2.7B

What is the target price for GM?

Stock Price Target

High $98.00
Low $33.00
Average $60.86
Current Price $37.42