As tariffs weaken the competitiveness of companies exporting into the U.S., economists see these trade agreements more as a loss for both sides, as costs rise also for farm equipment manufacturers already inside the country.
Tag Archives GM
Tariffs add billions to U.S. equipment costs
Efforts to re-shore manufacturing through tariffs are expected to make U.S. companies less competitive
BEV Sierra to debut in 2024
GM continues to move toward its goal of offering a zero-emissions fleet of vehicles by 2035 and abandoning the internal combustion engine. The latest announcement in its BEV (battery electric vehicle) development program is a full-sized, fully electric Sierra pickup will begin delivery to dealers in early 2024. It will join the brand’s other EV […] Read more
GM buyouts cut 5,000 jobs, CFO says
Not much more room seen to raise prices
Reuters — About 5,000 General Motors salaried workers took buyouts to leave the company, putting the company well on the way to hitting a US$2 billion cost-cutting target, the automaker’s chief financial officer said Tuesday. GM shares were trading down nearly two per cent at midday, even though CFO Paul Jacobson said demand for GM’s […] Read more
GM’s truck production cut signals a turn in U.S. auto sales
Company to idle Indiana plant for two weeks
Detroit | Reuters — New vehicle sales in the United States are expected to increase in February, but the decision by General Motors to cut production of large pickup trucks at a U.S. plant points to new challenges for Detroit’s automakers. The major Detroit pickup truck brands are sitting on growing inventories of unsold vehicles, […] Read more
GM recalls 825,000 trucks, SUVs over headlight issue
Recall includes 85,000 units in Canada
Washington | Reuters — General Motors said Wednesday it was recalling 825,000 trucks and SUVs in North America because daytime running lights may not deactivate when the headlights are on, potentially causing excess glare. The largest U.S. automaker said the recall covers various Cadillac CT4 and CT5; Buick Envision; Cadillac Escalade and Escalade ESV, Chevrolet […] Read more
Ford, GM upgrade their heavy-duty pickup profit machines
New features aimed at business productivity
Detroit | Reuters — Ford Motor Co. on Tuesday took the wraps off the latest version of its Super Duty pickup, providing a look at how the U.S. automaker will manage one of the biggest challenges confronting Detroit. The problem: How to modernize the largest combustion pickups to keep demand strong and profits flowing, without […] Read more
GM CEO says ‘we are selling every truck we can build’
Rising fuel prices not seen undermining big truck demand, yet
Detroit | Reuters — General Motors CEO Mary Barra said on Monday the automaker is “selling every truck we can build” and expanding North American truck-building capacity, even as U.S. gasoline prices hit record highs. Barra made her comments during the automaker’s annual shareholder meeting. GM is pursuing a two-track strategy: Investing heavily in electric […] Read more
GM ramps up EV push with plans to make battery materials in Canada
Automaker and BASF both plan CAM plants at Becancour
Reuters — General Motors and South Korea’s POSCO Chemical will build a $400 million facility to produce battery materials in Canada as the carmaker ramps up plans to produce mainly electric vehicles (EVs) in the future, the companies said Monday. The plant will produce cathode active material (CAM) for vehicle batteries at Becancour, Que. Cathodes […] Read more
GM to chase rivals with US$105,000 electric Silverado
Less expensive retail Silverado EV to follow in 2024
Detroit | Reuters — General Motors’ US$35 billion electric vehicle strategy will face its biggest test in 2023 when it launches an electric version of its Chevrolet Silverado pickup with a six-figure price tag, more than a year after rivals Ford and Rivian Automotive. GM CEO Mary Barra on Wednesday told the annual CES technology […] Read more
Electric truck battle heats up between Ford, GM
Ford to double output at Michigan
Detroit | Reuters — Ford Motor Co. said Tuesday it will nearly double annual production capacity for its red-hot F-150 Lightning electric pickup to 150,000 vehicles as the model has already attracted nearly 200,000 reservations ahead of its arrival this spring at U.S. dealers. Ford’s announcement comes a day ahead of rival General Motors’ public […] Read more
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