Gm

Business General Motors Co said Friday it is recalling 368,000 medium- and heavy-duty diesel trucks equipped with engine-block heaters for fire risks after 19 reports of fires. 03 May 2019 10:23PM (Updated: 03 May 2019 10:23PM) Bookmark WASHINGTON: General Motors Co said Friday it is recalling 368,000 medium- and heavy-duty diesel trucks equipped with engine-block heaters for fire risks after 19 reports of fires.The recall covers some 2019 Chevrolet Silverado 4500, 5500 and 6500 trucks, 2017-2019 Chevrolet Silverado and GMC Sierra 2500 and 3500 trucks equipped with Duramax 6.6-liter diesel engines and an optional engine-block heater, including 324,000 U.S vehicles. The engine block heater cord or the terminals may short circuit and fail, GM said.There are no reports of injuries, accidents or fatalities tied to the recall, GM spokesman Dan Flores said.GM said the remedy for the issue was still under development, and told dealers on April 25 the company was working with the … [Read more...] about GM recalls 368,000 larger duty trucks for fire risks

DETROIT: General Motors Co on Tuesday reported a higher-than-expected quarterly profit, lifted by revaluations of shares it holds in ride-hailing company Lyft Inc and France's Peugeot SA.Excluding the benefits of those revaluations, GM delivered results in line with analyst predictions, driven mostly by highly lucrative pickup truck sales in the U.S. market.The No. 1 U.S. automaker's shares fell 2.4 percent in early trading.The earnings came after a 7 percent decline in U.S. new-vehicle sales in the first quarter, in which smaller rival Fiat Chrysler Automobiles NV's pickup trucks outsold GM's."We remain concerned with the U.S. auto cycle, both from a pricing and volume perspective," Buckingham Research analyst Joseph Amaturo wrote in a client note. "Moreover, specific to GM, we are concerned about recently monthly pick-up truck and market share stats."GM's sales in China also dropped almost 20 percent and profit there declined 37 percent. Auto sales in China industrywide fell 2.8 … [Read more...] about Lyft elevates GM first-quarter profit, pickups in driver’s seat

DETROIT: General Motors Co on Tuesday reported a higher-than-expected quarterly profit, driven mostly by highly lucrative pickup truck sales in the U.S. market and in part by revaluations of shares it holds in ride-hailing company Lyft Inc and Peugeot SA.The company's share's were down 1.6 percent in opening trading.The earnings came despite a 7 percent decline in U.S. new-vehicle sales in the first quarter, in which smaller rival Fiat Chrysler Automobiles NV's pickup trucks outsold GM's.The higher profit also happened even though sales in China dropped almost 20 percent and profit there declined 37 percent. Auto sales in China industrywide fell 2.8 percent last year and again in the first quarter.GM Chief Financial Officer Dhivya Suryadevara told reporters that the Chinese market remains "volatile.""From an economic standpoint, there are green shoots," she said. "But we have yet to see that translate to vehicle demand."GM will launch 20 new models in China in 2019, most of them in … [Read more...] about GM first-quarter profit beats estimate, lifted by pickups, Lyft