General Motors-owned Chevrolet said Thursday its upcoming 2025 Corvette ZR1 sports car promises a whopping 1,064 horsepower. It will start production next year.
GM CEO Mary Barra said she's comfortable with the automaker's EV strategy as the looming presidential election creates uncertainty about the next administration's view of EV regulations.
GM is indefinitely suspending production of the Cruise Origin as it focuses more attention on the Chevrolet EV Bolt. The self-driving cars were allowed back on the road this spring.
GM and Ford may post smaller quarterly profits this week after slowing consumer demand for EVs and a cyberattack on a critical software system used by dealerships disrupted sales.
Earnings were $3.04 billion, or $8.62 per share, for the three months ended June 30, compared with $1.22 billion, or $3.08 per share, a year earlier, the bank said on Monday.
The Biden administration announced $1.7 billion in grants for EV projects and retooling auto manufacturing facilities in eight states, including several critical swing states.
General Motors announced it has approved a new share repurchase authorization to buy back up to $6 billion worth of the automaker's stock, citing strong demand for gas-powered vehicles.
A surplus of 2023 model year inventory at domestic automaker dealerships means new car buyers can expect to snag steeper discounts on new vehicles this Memorial Day weekend.
General Motors will end production of its Chevrolet Malibu sedan as it shifts its focus on electric vehicles. Its Kansas plant will now produce the next-gen Chevy Bolt.
Workers at the Mercedes-Benz factory in Vance, Alabama, are scheduled to vote next month on whether to the join the United Auto Workers amid the union's organization push.
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