GM will introduce eyes-off driving in 2028 | CNN Business

October 23, 2025October 22, 2025 ~ knjohn ~ Leave a comment

General Motors, the 100-year-old car company that has struggled with its expensive modernization efforts, plans to offer Americans hands-free driving and the freedom to watch a movie on the go.

The company unveiled new “eyes-off” driving technology that will be available starting in 2028, part of a new technology initiative revealed by GM executives in New York on Wednesday. The automaker said the initiative includes a conversational AI technology that will be introduced into vehicles next year.

“Imagine you step into your vehicle, you push a button, and it drives you to the office. You catch up on work, send emails, or watch an episode of your favorite show,” said GM CEO Mary Barra. “The car drops you off … then it goes to get your dry cleaning, take out for dinner, and it comes back in time so you can drive your kids to their soccer game.”

General Motors pulls plug on Cruise robotaxi project | BBC

December 11, 2024December 10, 2024 ~ knjohn ~ Leave a comment

General Motors has announced that it will stop funding the development of the Cruise self-driving taxi.

The company says it will now “refocus autonomous driving development on personal vehicles”.

GM also pointed to the increasingly competitive robotaxi market as a reason for the move.

In October, Tesla boss Elon Musk unveiled the electric car giant’s long-awaited robotaxi, the Cybercab, at the Warner Bros Studios in Burbank, California.

GM is struggling so much in China, it had to announce massive charges to fix its business | CNN Business

December 5, 2024December 4, 2024 ~ knjohn ~ Leave a comment

China, once GM’s largest and most important market, has become its biggest problem.

General Motors told shareholders on Wednesday that it would record two non-cash charges totaling more than $5 billion on its joint venture in China, one related to the restructuring of the operation and another reflecting its reduced value.

GM expects the charge for restructuring costs to be $2.6 to $2.9 billion and the charge for reduced joint-venture value to be $2.7 billion.

The automaker’s shares were down 2.7% before the bell.

GM partners with SAIC Motors in China to build Buick, Chevrolet and Cadillac vehicles.

2020 Chevrolet Corvette C8 Losing Money for GM: Report | Digital Trends

December 2, 2019December 1, 2019 ~ knjohn ~ Leave a comment

Despite being redesigned, the 2020 Chevrolet Corvette Stingray carries a base price of $59,995 — a relatively small increase over the outgoing model. Given the extent of the changes over the previous-generation Corvette, this price sounded too good to break true. It turns out it was — in a bad way: Motor Trend reports that General Motors will lose money on every base 2020 Corvette sold.

Tesla Takes on the Dealerships—and GM | Bloomberg Business

March 8, 2016 ~ knjohn ~ Leave a comment

“We need your help,” Tesla wrote in a Feb. 19 e-mail to its customers in Indiana. The state legislature was about to move forward with a bill that would have forced the electric-car maker to find a franchisee to operate its one showroom in the state, setting a precedent that would make it harder for Tesla to open others elsewhere. The company claimed the legislation reflected the interests and influence of one rival: General Motors. “Don’t let GM tell you that your only option is to buy a car from a traditional franchised dealer by shutting out Tesla,” the e-mail continued. Tesla asked recipients to contact their lawmakers.

GM fighting brake line recall | CnnMoney.com

July 10, 2014 ~ knjohn ~ Leave a comment

General Motors, which has recalled nearly 29 million cars globally so far this year, is pushing back against critics clamoring that it should recall another 6 million pickups and SUVs for a problem with brake lines.

GM says the problem with the brake lines is due to normal wear-and-tear on vehicles that are all at least 10 years old, and that the problem only occurs in the so-called “Salt Belt” where corrosive salt is used on the roads during the winter.

GM made $22.6 billion since bankruptcy. Taxpayers lost $10.6 billion on bailout | Money.cnn.com

May 29, 2014 ~ knjohn ~ Leave a comment

GM has earned a stunning $22.6 billion since the dark days of the financial crisis, when the automaker was bailed out by the U.S. government. Taxpayers didn’t fare nearly as well. They’d lost $10.6 billion by the time the U.S. Treasury department closed the books on the $49.5 billion bailout in December.GM, which filed for bankruptcy five years ago this Sunday, has repaid everything it was obligated to pay Treasury. Taxpayers came up short because the U.S. decided to buy GM stock to keep the automaker alive instead of giving it a loan and saddling it with more debt.Although GM has been very profitable since 2009, its stock price never rose to a level that let Treasury to recoup that investment.