General Motors

GM takes $7 bn charge on tax reform, seens solid 2018

Detroit - Muslimchronicle

General Motors announced Tuesday that it would take a $7 billion charge due to tax reform and said it expects 2018 results to be comparable to the solid results of 2017. GM said the charge on the accounting of tax deferred assets would be taken in the fourth quarter, joining other large companies announcing similar actions after US tax reform.Read more

GM sees 2019 launch for self-driving taxi fleet

London - Muslimchronicle

General Motors is aiming to overtake rivals by launching a large-scale fleet of self-driving taxis by 2019. The US auto giant told an investor call its strategy is based on zero emissions and autonomous technology that will eliminate most crashes. "If we continue on our current rate of change, we will be ready to deploy this technology in largeRead more

GM shares rise despite hefty loss

New York - Muslimchronicle

General Motors reported a hefty loss Tuesday due to costs connected to its Opel/Vauxhall sale, but won praise for moving aggressively to address an inventory overhang in North America. GM, facing a slowdown in North America after a multi-year boom, beefed up incentives in the third quarter to unload vehicles in the region, cutting into profit margins but lifting overallRead more

General Motors reports $3 bn loss in 3Q due to Opel sale charge

New York - Muslimchronicle

General Motors reported Tuesday lower North American operating profits, but gains in other regions as a $5.4 billion charge connected to the Opel/Vauxhall sale led to a large quarterly loss. The biggest US automaker reported a loss of $3 billion for the quarter ending September 30. GM in March announced the sale of its European division to PSA Groupe forRead more

GM workers in Canada end strike over job security

Detroit - Muslimchronicle

Striking autoworkers began returning to work Monday at a General Motors plant in Canada following a month-long work stoppage over job security, according to labor union officials. Nearly 2,800 workers at the Ingersoll, Ontario plant ratified a four-year agreement that included a four percent pay raise as well as signing and performance bonuses, according to Unifor, the union. The strike,Read more

GM more than doubles self-driving car test fleet in California

Washington - Muslimchronicle

General Motors Co's self-driving unit, Cruise Automation, has more than doubled the size of its test fleet of robot cars in California during the past three months, a GM spokesman said on Wednesday. As the company increases the size of its test fleet, it has also reported more run-ins between its self-driving cars and human-operated vehicles and bicycles, telling CaliforniaRead more

Aljomaih Automotive launches children’s safety campaign

Riyadh - Arab Today

Aljomaih Automotive Company (AAC), the largest dealer of General Motors in Saudi Arabia and the Middle East, is launching an awareness campaign focusing on children’s safety in automobiles. The initiative will be heavily advertised across street banners, social media and newspapers. AAC intends to hold informative events, in which it will distribute educational material as well as car seats toRead more

Intel deal may fuel Israel's rise as builder of car brains

Jerusalem - AFP

Intel's $15-billion purchase of Israeli firm Mobileye could help fuel the country's rise in the driverless car industry -- not as a builder of vehicles, but as the brains behind them. Monday's deal, the largest ever in Israel's tech sector, could help boost trade despite the fact no commercial cars are assembled in the country. The self-styled "startup nation" hasRead more

Carmakers eye more UK suppliers to handle Brexit

Geneva - Arab Today

As Britain prepares to leave the EU, some carmakers are considering softening the blow of any tariffs by sourcing more parts locally and producing more models they can sell domestically rather than export. Eighty percent of UK-assembled vehicles are exported and they could face tariffs of up to 10 percent if Britain has to fall back on World Trade OrganizationRead more

Carmakers: Auto industry is in transition

Geneva - Arab Today

The auto industry is facing seismic changes with the rise of electric vehicles, automated driving and car sharing, and adapting to these will eclipse even big mergers such as PSA’s purchase of Opel, executives at the Geneva auto show said. Peugeot maker PSA Group on Monday agreed to buy loss-making Opel from General Motors (GM), creating Europe’s second-biggest carmaker behindRead more