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72°
Wednesday, jun 24
Tag:
General Motors
Business
Costs Rise While Stubborn Inflation Persists, Trump Tariffs Loom Over Economy
Prices for a wide range of products increased in July, even as inflation held steady, with economists expecting President Donald Trump's tariffs to further raise costs for many Americans. The Consumer Price Index rose by 0.2% in July and reached a yearly rate of 2.7%, according to data released by the Bureau of Labor Statistics on Tuesday, Aug. 12. That was barely lower than the 2.8% annual inflation expected in the Dow Jones forecast, CNBC reported. Core inflation, which doesn't include the volatile food and energy categories, jumped by 0.3%, bringing the annual rate to 3.1%. That's the hi…
Business
'Buy American' Movement Fades Despite Trump's Tariff-Fueled US Manufacturing Push: Survey
The "Buy American" movement has lost popularity as President Donald Trump's sweeping tariffs raise prices on many goods while claiming to boost domestic manufacturing, according to a new survey. Half of Americans said in June that they'd be more likely to buy a product they liked after learning it was made in the US, according to the report from The Conference Board. That's down from 60% in May 2022. The appeal of "Made in USA" labels has also fallen 18% since 2022, with shoppers' fears about rising costs as the main factor in the decline. "Given US consumers' persisten…
Business
Trump Tariffs Hit Ford Harder Than Foreign Rivals, US Automaker Says
The automaker that builds more cars in the US than any other company says it may actually be hurt more by President Donald Trump's tariffs than foreign manufacturers. Ford said it's at a disadvantage compared to companies based in the European Union, Japan, and South Korea, The Wall Street Journal reported. Trump has set the tariff rate for those nations at 15%, significantly lower than the broad 25% duty on autos and light trucks that began in the spring. The 15% duties are the newest in Trump's rapidly changing tariff policies, with the latest rates going into effect on Friday, Aug. 1. Be…
Business
GM Suffers $1.1B Hit Because Of Trump's Tariffs
General Motors had a $1 billion hit over three months due to President Donald Trump's sweeping tariffs that have shaken the auto industry. GM reported a net income of $1.9 billion for the second quarter of 2025, down by about $1.1 billion from Q2 2024. Revenue slipped 1.8% to $47.1 billion. The automaker's North American operations were hit hardest, with profits falling nearly 46%. GM previously lowered its full-year outlook in May to account for a projected $4 billion to $5 billion tariff hit, which didn't change in the Q2 earnings report. Chief financial officer Paul …
Business
'Fire Risk Warning' Issued For 62K+ Chevy Trucks, Sparking Massive Recall: Here's Why
General Motors is recalling more than 62,000 trucks after finding that brake fluid can leak and potentially spark a fire. GM issued the recall for about 62,468 Chevrolet Silverado trucks, the National Highway Traffic Safety Administration said. The affected models include the 2019-2024 Silverado 4500HD, 5500HD, and 6500HD. One vehicle fire has been reported, but no injuries or crashes have been linked to the issue, according to the NHTSA. "An electrical short in the brake pressure switch can overheat the circuit and increase the risk of a fire while driving or parked," the …
Business
Crash Risks From Engine Failure Triggers Massive Recall Of Popular GM SUVs, Pickups
General Motors is recalling hundreds of thousands of SUVs and pickups due to a critical defect that can cause sudden power loss or complete engine failure, according to federal regulators. GM issued the recall for at least 597,630 of some of its most popular vehicles, the National Highway Traffic Safety Administration said on Thursday, April 24. Auto website Car and Driver has reported that as many as 877,000 vehicles are impacted by the recall. The affected vehicles with 6.2-liter L87 V8 gas engines are from the 2021 to 2024 model years. The recall includes th…
Business
Volvo Slashing Up To 800 East Coast Jobs As Trump's Tariffs, Low Demand Rattle Automakers
Up to 800 workers are being laid off at Volvo plants across the mid-Atlantic as concerns grow about the US auto industry due to President Donald Trump's tariffs. Volvo Group North America will lay off 550 to 800 employees, a company spokesperson confirmed to the Daily Voice on Friday, April 18. The layoffs will happen at plants in Maryland, Pennsylvania, and Virginia. The Swedish automaker cited the need to adjust to worsening economic conditions. "Heavy-duty truck orders continue to be negatively affected by market uncertainty about freight rates and demand, possible regulatory chang…
Business
Trump Pauses Auto Tariffs Amid Trade War Fallout With Canada, Mexico
President Donald Trump is giving US automakers a brief delay on tariffs imposed against Canada and Mexico as trade war tensions escalate and concerns rise domestically about the economy. The pause was confirmed at a news briefing by White House Press Secretary Karoline Leavitt on Wednesday, Mar. 5. The move came one day after Trump officially placed 25 percent tariffs on Canadian and Mexican goods while raising tariffs on Chinese imports to 20 percent. The country's "Big Three" automakers — Stellantis (formerly Chrysler), Ford, and General Motors — talked with Trump abou…
Business
GM Axes Robotaxis, Refocuses On Personal Cars
General Motors (GM) has announced a major shift in its autonomous vehicle strategy, discontinuing the development of robotaxis through its subsidiary Cruise LLC. The company will instead focus on integrating autonomous and advanced driver assistance systems (ADAS) into personal vehicles. The decision, announced this week, comes as GM evaluates the time, costs, and competitive challenges associated with scaling a robotaxi business. “GM is committed to delivering the best driving experiences to our customers in a disciplined and capital-efficient manner,” said Mary Barra, GM Chai…
Business
General Motors Recalling 449K SUV, Pickup Trucks Due To Low Brake Fluid Warning Light Issues
Upwards of 450,000 SUV and pickup trucks are subject to a recall by General Motors due to a faulty electronic brake control module that may potentially fail to warn drivers when there is a loss of brake fluid. The National Highway Traffic Safety Administration (NHTSA) announced on Friday that GM is recalling multiple models and vehicles due to the issue. Models recalled include certain 2023-2024 Cadillac Escalade and Escalade ESVs, 2023 Chevrolet Silverado 1500, 2023-2024 Chevrolet Tahoe and Suburban 1500, 2023 GMC Sierra 1500, 2023-2024 GMC Yukon and Yukon XL models. According to the…
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