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GM’s stock closes below IPO price for first time since October 2020

Mary Barra, Chair and CEO of the General Motors Company (GM), speaks during the Milken Institute Global Conference in Beverly Hills, California, on May 2, 2022.Patrick T. Fallon | AFP | Getty ImagesDETROIT – Shares of General Motors on Monday closed below the post-bankrupt automaker's $33 initial public offering price for the first time since October 2020.Amid a broad market sell-off that also pushed Ford Motor and Chrysler-parent Stellantis to new 52-week lows, GM's stock closed at $32.28 a share, down by 7.8%. Shares of…

GM’s new concept car to revolutionize the brand for EVs

Buick Wildcat conceptBuickDETROIT — General Motors on Wednesday unveiled the Buick Wildcat, a new concept car designed to signal a revolutionary change for the brand, as it moves to offer only electric vehicles in North America by the end of this decade.The car reflects the future design and technological directions of the 119-year-old brand, including a significantly redesigned logo for the first time in more than 30 years.Buick marketing manager Rob Peterson said elements of the Wildcat will be included in Buick…

Autoworker union accuses GM’s joint venture of denying access for organizing

Striking United Auto Workers members and supporters attend a speech by Vermont Sen. Bernie Sanders outside General Motors' Detroit-Hamtramck Assembly plant on Sept. 25, 2019 in Detroit.Michael Wayland / CNBCDETROIT – The United Auto Workers union is accusing a new General Motors joint venture of denying access to workers to conduct a preliminary organizing vote.UAW Vice President Terry Dittes, in a letter to union leaders Tuesday obtained by CNBC, said leaders of the joint venture between GM and LG Energy Solution, called…

GM’s new Cadillac Escalade is the most expensive, powerful yet at $150,000

2023 Cadillac Escalade V-SeriesCadillacDETROIT – General Motors' newest Cadillac Escalade will be the most powerful and expensive version of the full-size SUV ever when it goes on sale this summer, starting at about $150,000.The Detroit automaker unveiled the 2023 Cadillac Escalade-V on Wednesday with a supercharged 6.2-liter V-8 engine that delivers 682 horsepower and 653 foot-pounds of torque. That's significant performance improvement over the 420 horsepower and 460 foot-pounds of torque of the SUV's current V-8…