General Motors' third-quarter profit fell slightly, but the company rode strong North American sales to overcome $1.5 billion in costs from its deadly ignition switch recall. Its shares rose almost 7 per cent in afternoon trading Wednesday.
Move that tiny self-driving pod out of the way. That might as well have been the message Thursday from General Motors to Google, Apple and anyone else with designs on dominating the market for autonomous cars.
General Motors will pay US$575 million to settle hundreds of civil lawsuits filed against the company over faulty small-car ignition switches, including the bulk of pending wrongful death and injury cases.
GM Canada will invest $12 million to increase production of the Chevrolet Equinox on the consolidated line in Oshawa, Ont., and for related changes in the body shop at CAMI assembly plant in Ingersoll, Ont.
Big profits from trucks and SUVs helped General Motors overcome a sales slowdown in China, economic problems in Venezuela and payments to ignition switch crash victims as the automaker's second-quarter net income rose sixfold to nearly $1.12 billion.
The day before hundreds of United Auto Workers delegates gathered to set strategy for contract talks with the Detroit Three, General Motors sent them a not-so-subtle message. GM announced a $350 million investment in a Mexican factory to build the Chevrolet Cruze compact car.