GM estimates overall hit from pandemic in the first quarter is US$1.4 bil. FMTNews
NEW YORK: General Motors said Wednesday it aims to reopen most US and Canadian manufacturing operations on May 18 as it reported a steep drop in first-quarter earnings due to the coronavirus.
The US auto giant reported that first-quarter earnings plunged 86% to US$294 million on a 6.2% decline in revenues to US$32.7 billion. Car sales also declined in the US, although the impact was mitigated by gains in GM’s full-size pickups.Many GM dealers are open for service and online car sales, but retail operations are skeletal otherwise.Revamped plants
Other protocols require frequent hand washing, additional cleaning of stations, physical distancing standards and the wearing of a mask. “As for the start date, the companies contractually make that decision and we all knew this day would come. Our UAW focus and role is and will continue to be on health and safety protocols to protect our members.”GM executives said they were focused on ramping up construction of popular pickup and sport-utility vehicles that have continued to sell fairly well, especially away from the coasts of the US in the interior of the country.
In the US, some 800 additional dealers have launched GM’s “Shop. Click. Drive.” service, meaning that around 85% of the company’s dealers now have the program.
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