GM informed the union of temporary layoffs starting April 14 at CAMI Assembly. Workers will return in May for limited production, and thereafter, production will cease again, with operations idling until October 2025, Unifor said.
Shares of automotive manufacturer General Motors (NYSE:GM)
fell 5.9% in the afternoon session after UBS downgraded its rating from Buy to Neutral, signaling a more cautious outlook on the stock's near-term potential. The firm also lowered its price target from $64 to $51, citing reduced earnings expectations.
The firm expects the net price of new vehicles in the U.S. to rise by about $2,000 to $4,000 over the next 6-12 months as car manufacturers pass on tariff-related costs, Reuters reported.
General Motors trades at $44.26 per share and has moved almost in lockstep with the market over the last six months. The stock has lost 7.2% while the S&P 500 is down 7.7%. This may have investors wondering how to approach the situation.
The post-tariff dip in GM stock may look like a buying opportunity, but before making a decision, investors may want to wait until the company's earnings report
The end of an earnings season can be a great time to discover new stocks and assess how companies are handling the current business environment. Let’s take a look at how THOR Industries (NYSE:THO) and the rest of the automobile manufacturing stocks fared in Q4.
