The latest trading day saw General Motors (GM) settling at $72.54, representing a -3.33% change from its previous close.
Shares of General Motors fell about 4% on Thursday after the company reported a sharp decline in first-quarter sales, highlighting mounting pressure on the auto industry from high borrowing costs, elevated vehicle prices, and rising fuel costs. The Detroit-based automaker said it sold 626,429 vehicles between January and March, marking a 9.7% decline from a year earlier—its steepest drop in nearly four years.
General Motors Co (NYSE:GM) stock is 4.1% lower to trader at $71.97 at last glance, after the automaker reported a 9.7% year-over-year drop in fiscal first quarter sales.
GM plans to run its Flint Assembly plant six days a week starting in June, mandating overtime for 4,200 workers to boost heavy-duty Silverado and Sierra output.
GM boosts heavy-duty truck output in Michigan, adding a sixth workday as strong demand for Silverado and Sierra pickups outweighs fuel price pressures.
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General Motors Company (NYSE:GM) has had a turbulent stretch heading into Q2.
Recently, Zacks.com users have been paying close attention to General Motors (GM). This makes it worthwhile to examine what the stock has in store.
The automaker will run its heavy-duty truck plant in Michigan six days a week starting in June.
General Motors' $600 million Korea bet will upgrade plants and boost small SUV output, easing near-term exit fears even as EV production plans remain unclear.
The Dayton-area plant supplies parts to several automakers.