Latest News Updates From David Welch

Autonomous trucking company Aurora Innovation expects to fall short of its production target for this year but said it’s on track to recover for 2027.

The company will retain the GM ticker symbol when it begins trading on the Nasdaq on Nov. 17, according to a statement Oct. 27. 

GM is unfazed by the EV meltdown of the past few years, moving ahead with a new program expected to produce a new battery-powered mainstream SUV within about three years.

While GM is benefiting from steady demand for its SUVs and trucks, it’s also constrained by an economy in which many consumers are finding themselves priced out of the new-vehicle market. 

GM runs on truck profits, and the all-new versions of the Silverado and Sierra will come with bigger engines and a plan to produce even more of them.

For Gatik, the investment is a clear sign that the autonomous trucking industry is moving past the trial-and-error stage and into an era of highway deployment with major shippers in the U.S. and Canada.

Samsung will buy GM’s 49.99% stake in the venture and operate it as a wholly owned entity, the South Korean battery maker said in a statement Aug. 11.

The results offer investors a measure of relief after a punishing stretch for Hertz, which has contended with heavy depreciation costs, volatile finances and pressure on its stock.

Carvana tumbled after it said full-year earnings may fall short of Wall Street’s expectations as the used-car retailer’s rapid growth slowed.

GM’s brighter outlook came despite a tough second quarter. The company has kept profits up by keeping inventory low and maintaining higher prices on its most profitable models.