GM and Ford top execs say U.S. consumer demand for cars and trucks remains strong, despite soaring interest rates and gas prices.
The company plans to delay filling some open positions after hiring 7,000 new salaried workers already in 2022.
General Motors hopes its Ultium platform, which consists of batteries, motors, software and other components, will help it grow EV market share and overtake Tesla as the No. 1 EV maker.
The automaker saw a Quarter One net income of $2.9 billion, just 2.7% lower than 2021, despite $2.5 billion in increased costs as global revenue rose 11%.
General Motors has requested its suppliers to sign a pledge of carbon neutrality and commit to social responsibility programs and sustainable procurement practices.
The number of potentially affected vehicles has also fallen with 4,622,752 vehicles affected so far.
Global auto and truck makers suspended some business in Russia in response to the country’s invasion of Ukraine last week.
GM entered a deal with semiconductor chip manufacturers to keep its North American assembly lines in production.
GM reported a net profit of $10 billion for 2021 and reported full-year pretax rose 47% to hit a record $14.3 billion.
The White House hosted the chief executives of major U.S. companies including auto and tech sector firms this week to discuss President Joe Biden's $1.75 trillion Build Back Better legislation.
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