Latest news with #GM
The Star
an hour ago
- Automotive
- The Star
Carmakers GM, Tesla and Ford lead list of US companies in China exposure: report
General Motors, one of America's top carmakers, leads US companies in its exposure to China, perched in a delicate position as bilateral trade tensions persist amid US President Donald Trump's steep 55 per cent tariffs on imports from the country, according to a research report published this week. Other high-profile firms, including Elon Musk's electric vehicle company Tesla, rival carmaker Ford, engine manufacturer Cummins, aerospace and tech firm Honeywell, beverage giant Coca-Cola, and chipmaker Qualcomm also rank in the top 10, illustrating corporate America's dependence on the country. Influential companies Amazon, Apple, Meta and Nvidia did not make it to the top 10, but remain among the largest tech firms at risk due to disruptions in the Chinese market and their global supply chains. That is according to the latest annual index from market research firm Strategy Risks, which assessed the top 250 publicly listed US companies to identify those most vulnerable to US-China trade tensions in 2025. The report analyses a range of public information – including company filings, media reports, and government data – to assign each firm an exposure score from 0 to 100. The evaluation considered factors such as supply-chain dynamics, ties to the Chinese government and Communist Party officials, industry-specific regulations in China and even biases in the data sets related to a firm's transparency on China-related information. With a score of 69.8, GM topped the list, followed closely by Cummins and Honeywell at 65.6 and 62.9 respectively. Tesla scored 60.7 while Coca-Cola tallied 58, closely trailed by Ford at 56.5 and Qualcomm at 56.2. The report attributes GM's top ranking to its 'relatively high number of joint ventures with Chinese state-owned companies'. According to the carmaker's website, it has 10 joint ventures in China, including a 50-50 joint venture called SAIC-GM with SAIC Motor, a state-owned Chinese company. In December, GM said it expected to lose more than US$5 billion as it reorganised its struggling business in China, where car sales have dropped sharply. According to Juozapas Bagdonas of Strategy Risks, General Motors has not only been significantly affected by tariffs, but recent restructuring of some of its joint ventures in China has also made the company more 'politically exposed'. 'They hold less power over those joint ventures,' he said, 'and potentially the government could impose their will on intellectual property, or any other things that might be important for some American company like GM.' Chinese officials have recently sought to allay concerns that foreign companies operating on the mainland might harbour amid ever-escalating trade tensions. Speaking at the US-China Business Council in Washington last week, Xie Feng, Beijing's ambassador to Washington, said many American firms were increasingly worried about 'losing the Chinese market' and that their R&D efforts would 'slow down'. 'Your concerns should be heeded,' Xie added. Tesla and Ford scored high this year in the category assessing exposure to politically sensitive areas and human-rights concerns 'due to their extensive presence in Xinjiang and Tibet, as well as their public overtures to the Chinese government on sensitive issues', the report stated. Colgate-Palmolive, a consumer products company, was also listed as among the most vulnerable to disruptions due to its heavy reliance on Chinese exports of plastic and electric toothbrushes, 'with hundreds of containers shipped from Chinese ports to the US in 2024'. Apple, which topped last year's list at No 2, slipped to No 27 this year, but it still rated among the largest tech companies most exposed to China, along with Amazon, Microsoft, Meta and Nvidia. The California-based tech giant still earns about 17 per cent of its revenue from China, and a substantial risk lies in its hundreds of manufacturing facilities across the country that build iPhones and MacBooks. The report warned that any serious supply-chain disruption in China 'could prove catastrophic' for Apple, even as it shifts more of its production to India. Electronics like smartphones and laptops are currently exempt from Trump's 10 per cent reciprocal tariffs on China. Bagdonas believed tariffs played a major role in companies looking to reduce their exposure to China. More than Trump's on-and-off reciprocal duties, the Section 301 tariffs imposed in response to alleged unfair Chinese trade practices, including forced tech transfers and intellectual property violations, were longer lasting and of greater concern, he said. These tariffs, introduced at the outset of the US-China trade war in 2018, were repeatedly renewed under former US president Joe Biden. 'For example, Tesla is subject to pretty high tariffs that have stayed in place since Biden took office and continue to be extended,' Bagdonas said. 'But then again, companies like Apple have largely been exempt from tariffs on smartphones, MacBooks and other electronics.' In the report's overall rankings, Amazon came in at 20th, driven by its heavy reliance on Chinese-made products, which dominate its shipments to Western markets. In 2023, US shoppers spent about US$200 billion on Chinese goods via Amazon, bringing the company an estimated US$70 billion in net profit. Microsoft placed 29th, with the report citing thousands of electronics shipped from China in 2024. Key AI components like doped silicon wafers face a 50 per cent tariff, potentially slowing its AI expansion. Nvidia came in at 85th, hindered by American export bans on its top chips to China. The company is now focusing on autonomous driving, supplying Orin chips to Chinese electric vehicle maker BYD, the world's largest in the sector. Meta ranked 94th, with its China revenue rising 34 per cent in 2024 to account for 11 per cent of total earnings. It also earns about US$7 billion a year from Chinese retailers like Temu and Shein through ad sales and relies on Chinese electronics for its VR and AI hardware, the report found.
Time of India
an hour ago
- Automotive
- Time of India
GM wins victory as appeals court decertifies transmission lawsuits
General Motors persuaded a federal appeals court on Friday to decertify a class action seeking to hold the automaker liable for knowingly selling about 800,000 cars, trucks and SUVs with faulty transmissions . In a 9-7 vote, the 6th US Circuit Court of Appeals in Cincinnati found too many differences among vehicle owners to justify having one judge oversee the litigation, including 26 statewide subclasses and 59 state law claims. Class actions can result in greater recoveries at lower cost than if plaintiffs were forced to sue individually. Neither GM nor lawyers for the vehicle owners immediately responded to requests for comment. The case covered Chevrolet and GMC vehicles equipped with 8L45 or 8L90 eight-speed automatic transmissions, and sold in the 2015 through 2019 model years. Drivers said the vehicles shuddered and shook in higher gears, and hesitated and lurched in lower gears, even after repair attempts. The vehicles included the Cadillac CTS, CT6 and Escalade; Chevrolet Camaro, Colorado, Corvette and Silverado; and GMC Canyon, Sierra and Yukon, among others. The decision reversed an August 2024 ruling by Circuit Judge Karen Nelson Moore for a three-judge panel. Moore dissented on Friday, accusing the new majority of trying to erect "insurmountable barriers to certification for plaintiffs who file class-action complaints against national manufacturers." Republican presidents appointed the nine judges in Friday's majority, while Democratic presidents appointed the seven dissenting judges. The appeals court sent the litigation back to US District Judge David Lawson in Detroit for further review, which could lead to certification of smaller subclasses. The case is Speerly et al v. General Motors LLC, 6th US Circuit Court of Appeals, No. 23-1940.
Miami Herald
9 hours ago
- Automotive
- Miami Herald
Fire risk recall affects 60,000 vehicles from US car company
President Donald Trump gave the U.S. auto industry the biggest government-sponsored gift it has received since the 2008 auto bailouts. His 25% tariffs on auto imports give Stellantis, Ford, and General Motors (GM) - collectively known as the U.S. Big 3 - a leg up on the competition. U.S. car buyers have flocked to dealerships this year, hoping to beat the tariffs before they take effect and take advantage of the incentives dealers have pushed to move inventory. Related: General Motors makes $4 billion tariff move The tariffs are designed to give domestic producers an advantage over foreign automakers, who must import more of their vehicles. But General Motors and Stellantis import a lot more of their vehicles than one might think. Only 52% of the 2.7 million vehicles GM sold globally last year were "made in the USA." Of the Big 3, GM isn't even ahead of Stellantis (57%), a multinational conglomerate based in Europe, in terms of domestic production. Ford leads the way, with 77% of the cars it sells originating from the States. The other issue American car companies face is that Americans love their foreign cars, which are increasingly made in the U.S. Japan exports about $41 billion of cars to the U.S. annually. Toyota sold over 2.3 million vehicles in the U.S. last year, a 3.7% year-over-year increase. Between April 2024 and March 2025, the company built 1.96 million units in the U.S., according to Statista. So a company like GM has to go above and beyond to win back customers. But its latest recall suggests it still has a lot of work to do. The Chevy Silverado is General Motors' best-selling full-size pickup truck, selling more than 550,000 last year, according to GM Authority. It was the second most popular full-size pickup behind the F-150, which sold nearly 760,000 vehicles last year. However, sales have flattened in recent years, and the latest news will not help the brand regain its previous success. On Thursday, GM announced that it has recalled 62,468 Chevrolet Silverado models in 4500 HD, 5500 HD, and 6500 HD. GM initiated the recall due to a brake pressure sensor assembly that could leak brake fluid into the brake pressure switch, causing a short circuit, which could overheat the circuit and cause a fire. Related: Car buyers should shop these brands for the best tariff deal Most impacted vehicles are 2023 Chevrolet Silverado 5500 HD trucks made between January 20, 2023, and March 19, 2024. General Motors said about 10,097 of them run the risk of malfunctioning, USA Today reported, citing manufacturing records. GM says it will replace the brake pressure switch wire harness for free. It notified dealers of the issue on June 12 and will mail letters to owners by July 28. Until repairs can be completed, GM advises owners to park their Silverados outside and away from buildings. General Motors (GM) said earlier this year that auto tariffs will wipe out between $4 billion and $5 billion in EBITDA this year. But GM CEO Mary Barra still backed the taxes, saying, "For decades now, it has not been a level playing field for us automakers globally, with either tariffs or non-tariff trade barriers. So I think tariffs is one tool that the administration can use to level the playing field." GM says it plans to invest $4 billion to move its Mexico production to three plants in the U.S., including the recently closed Orion Assembly plant in its hometown of Detroit. "We believe the future of transportation will be driven by American innovation and manufacturing expertise," Barra said in a statement. "Today's announcement demonstrates our ongoing commitment to build vehicles in the U.S. and to support American jobs. We're focused on giving customers choice and offering a broad range of vehicles they love." According to The Detroit News, GM will build full-size SUVs and light-duty pickups at the Orion plant, which closed in 2023. Related: Ford takes bold shot at its biggest rivals The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Perth Now
9 hours ago
- Automotive
- Perth Now
Why the Chevrolet Corvette is a CarExpert Choice winner
The Porsche 911 has long been the yardstick against which all luxury sports cars are measured, but there's a new kid in town. The latest Chevrolet Corvette has now managed what the brilliant but too expensive and too limited Honda NSX – and the highly underrated but now discontinued Audi R8 – failed to do: topple the 911 to become our pick as the finest luxury sports car available. General Motors shocked the world when it launched the eighth generation of its lauded Corvette in 2019, releasing not only the first global version produced in both left- and right-hand drive, but the first one with a mid-mounted engine. The move made Chevrolet's iconic sports car a more direct rival for the likes of the Ferrari 296, Lamborghini Huracan and, yes, the rear-engined 911. Launched with what GM does best – a big-bore V8 – the ground-breaking C8 promised Ferrari levels of engine and chassis performance in a purpose-built two-seat sports car, for Chevrolet money. Hundreds of new car deals are available through CarExpert right now. Get the experts on your side and score a great deal. Browse now. Supplied Credit: CarExpert Indeed, Australian Chevrolet distributor GM Specialty Vehicles announced a base price of $144,990 before on-road costs for the Stingray in March 2021. By the time first deliveries took place in September 2021, the first batch of 250 vehicles was already sold out and there was no ETA on further shipments, while some dealers were gouging potential customers tens of thousands of dollars on top of official list prices. But after growing demand from disenfranchised GM performance car fans following the axing of Holden, HSV and the locally converted Chevrolet Camaro in 2020, more supplies eventually arrived in late 2023 after several production delays and a $15k base price hike. The hot Z06 arrived around the same time, priced from a cool $336,000, followed by the electrified $275,000 E-Ray in August 2024, and more price hikes for the Stingrays that now start at $186,990. Nevertheless, that's just $10,000 more than the cheapest BMW M4 and still almost $100,000 less than the most affordable 911, both of which offer less power. Supplied Credit: CarExpert Sadly, while the Z06 rides on Carbon Revolution wheels made in Australia, its exhaust and therefore power output were nobbled by our government's fun police. In more sad news, the most ferocious versions of the C8 – including the ZR1 that packs a twin-turbo version of the Z06's 5.5-litre flat-plane crank V8, making a mammoth 783kW of power and 1123Nm of torque, and probably the hybridised ZR1X that develops an incredible 932kW – will only be produced in left-hand drive, ruling them out for official Australian release. But no Corvette is a wallflower, with even the base Stingray 2LT Coupe and Convertible using a naturally aspirated 6.2-litre V8 producing 369kW and 637Nm of torque. The Z06 Coupe cranks out a healthy 475kW/595Nm, and the E-Ray adds a front electric motor to the Stingray recipe to deliver all-wheel drive and a very generous 488kW/807Nm. Supplied Credit: CarExpert However, the latest Corvette isn't just a relative bargain and it doesn't just out-power its closest competitors – it matches them for design, refinement, safety, technology and dynamics, with superb chassis balance, talkative steering, fantastic brakes and big rewards for drivers who dig deep into its broad skillset. The E-Ray in particular has an enormous performance envelope, and delivers so much acceleration, sound and X-factor so seamlessly and – so far – reliably that it's hard to believe it was created in the US and not Germany or Italy, as outlined below by my colleagues. 'Anybody who scoffs at the notion an American automaker can't compete in the supercar big league needs to get behind the wheel of Chevy's mid-engined C8 Corvette,' said CarExpert news editor William Stopford. 'Not only does this American supercar look the part, it offers the adroit handling and tremendous performance expected of such a vehicle. 'While the all-wheel drive hybrid E-Ray is my personal favourite, you can get a base Stingray for close to $100k less than the cheapest Porsche 911 and well under half the price of the cheapest Lamborghini or Ferrari. Try ignoring that.' Supplied Credit: CarExpert 'After driving the latest Chevrolet Corvette – particularly the E-Ray – it's hard to go past America's supercar in the luxury sports segment,' said marketplace editor James Wong. 'The stonking electrified V8 drivetrain is not only blisteringly quick, but it offers an old-school sound, track-happy handling and of course those classic supercar proportions make it look twice as expensive than it actually is. Even better, the available Carbon Revolution carbon-fibre wheels add a dash of Australia to an already desirable recipe.' 'The obvious choice here would be the Porsche 911, but people seem to underestimate Chevy's V8 sports car weapon,' said deputy marketplace editor Joosh Nevett. 'The C8 Corvette is the best 'Vette yet – not only does it offer blistering performance, but also supercar styling and an interior that feels special to sit in. 'Then there's the matter of money, as the base Corvette Stingray is a relative bargain compared to an equivalent 911. But if I had the choice, I'd shell out for the Z06 or E-Ray, both of which take the Corvette brand to new heights.' Supplied Credit: CarExpert Winner – Chevrolet Corvette Finalist – Porsche 911 Finalist – BMW M4 To see all the CarExpert Choice winners, click here. MORE: Explore the Chevrolet Corvette showroomMORE: E-Ray breaks tradition to take centre stage at 2025 Corvette Nationals
7NEWS
9 hours ago
- Automotive
- 7NEWS
Why the Chevrolet Corvette is a CarExpert Choice winner
The Porsche 911 has long been the yardstick against which all luxury sports cars are measured, but there's a new kid in town. The latest Chevrolet Corvette has now managed what the brilliant but too expensive and too limited Honda NSX – and the highly underrated but now discontinued Audi R8 – failed to do: topple the 911 to become our pick as the finest luxury sports car available. General Motors shocked the world when it launched the eighth generation of its lauded Corvette in 2019, releasing not only the first global version produced in both left- and right-hand drive, but the first one with a mid-mounted engine. The move made Chevrolet's iconic sports car a more direct rival for the likes of the Ferrari 296, Lamborghini Huracan and, yes, the rear-engined 911. Launched with what GM does best – a big-bore V8 – the ground-breaking C8 promised Ferrari levels of engine and chassis performance in a purpose-built two-seat sports car, for Chevrolet money. Hundreds of new car deals are available through CarExpert right now. Get the experts on your side and score a great deal. Browse now. Indeed, Australian Chevrolet distributor GM Specialty Vehicles announced a base price of $144,990 before on-road costs for the Stingray in March 2021. By the time first deliveries took place in September 2021, the first batch of 250 vehicles was already sold out and there was no ETA on further shipments, while some dealers were gouging potential customers tens of thousands of dollars on top of official list prices. But after growing demand from disenfranchised GM performance car fans following the axing of Holden, HSV and the locally converted Chevrolet Camaro in 2020, more supplies eventually arrived in late 2023 after several production delays and a $15k base price hike. The hot Z06 arrived around the same time, priced from a cool $336,000, followed by the electrified $275,000 E-Ray in August 2024, and more price hikes for the Stingrays that now start at $186,990. Nevertheless, that's just $10,000 more than the cheapest BMW M4 and still almost $100,000 less than the most affordable 911, both of which offer less power. Sadly, while the Z06 rides on Carbon Revolution wheels made in Australia, its exhaust and therefore power output were nobbled by our government's fun police. In more sad news, the most ferocious versions of the C8 – including the ZR1 that packs a twin-turbo version of the Z06's 5.5-litre flat-plane crank V8, making a mammoth 783kW of power and 1123Nm of torque, and probably the hybridised ZR1X that develops an incredible 932kW – will only be produced in left-hand drive, ruling them out for official Australian release. But no Corvette is a wallflower, with even the base Stingray 2LT Coupe and Convertible using a naturally aspirated 6.2-litre V8 producing 369kW and 637Nm of torque. The Z06 Coupe cranks out a healthy 475kW/595Nm, and the E-Ray adds a front electric motor to the Stingray recipe to deliver all-wheel drive and a very generous 488kW/807Nm. However, the latest Corvette isn't just a relative bargain and it doesn't just out-power its closest competitors – it matches them for design, refinement, safety, technology and dynamics, with superb chassis balance, talkative steering, fantastic brakes and big rewards for drivers who dig deep into its broad skillset. The E-Ray in particular has an enormous performance envelope, and delivers so much acceleration, sound and X-factor so seamlessly and – so far – reliably that it's hard to believe it was created in the US and not Germany or Italy, as outlined below by my colleagues. 'Anybody who scoffs at the notion an American automaker can't compete in the supercar big league needs to get behind the wheel of Chevy's mid-engined C8 Corvette,' said CarExpert news editor William Stopford. 'Not only does this American supercar look the part, it offers the adroit handling and tremendous performance expected of such a vehicle. 'While the all-wheel drive hybrid E-Ray is my personal favourite, you can get a base Stingray for close to $100k less than the cheapest Porsche 911 and well under half the price of the cheapest Lamborghini or Ferrari. Try ignoring that.' 'After driving the latest Chevrolet Corvette – particularly the E-Ray – it's hard to go past America's supercar in the luxury sports segment,' said marketplace editor James Wong. 'The stonking electrified V8 drivetrain is not only blisteringly quick, but it offers an old-school sound, track-happy handling and of course those classic supercar proportions make it look twice as expensive than it actually is. Even better, the available Carbon Revolution carbon-fibre wheels add a dash of Australia to an already desirable recipe.' 'The obvious choice here would be the Porsche 911, but people seem to underestimate Chevy's V8 sports car weapon,' said deputy marketplace editor Joosh Nevett. 'The C8 Corvette is the best 'Vette yet – not only does it offer blistering performance, but also supercar styling and an interior that feels special to sit in. 'Then there's the matter of money, as the base Corvette Stingray is a relative bargain compared to an equivalent 911. But if I had the choice, I'd shell out for the Z06 or E-Ray, both of which take the Corvette brand to new heights.' 2025 CarExpert Choice Best Luxury Sports Car Winner – Chevrolet Corvette Finalist – Porsche 911 Finalist – BMW M4 To see all the CarExpert Choice winners, click here.
