Accord (Honda)

On April 23, multiple sources reported that Tesla is targeting around 400 job cuts, or about 3% of the plant's workforce at its electric car factory in Grünheide, Germany. The factory was affected by the company’s global job cuts and weak sales of electric cars. The company previously announced a reduction of 300 temporary workers from the plant.

According to the sources, the company has launched a volunteer program for employees who want to leave the company, to avoid forced layoffs. The discussion is underway with the workers union.

Based on multiple sources

On April 20, the BAIC Tech event was held in Beijing, where BAIC Group announced that its R&D investment will exceed CNY 100 billion by 2030. According to the plan, the group will complete a technology iteration and upgrade by 2025, make breakthroughs in key areas by 2028, and have its core technology levels rank among the top in the world by 2030. It will focus on tackling key technologies in seven areas: intelligent driving, intelligent cockpits, electronic controllers, electric drives, hybrid powertrains, batteries, and off-road vehicles.

At the Auto China 2024 in Beijing, BAIC Group will be present with 19 new products from its Arcfox and BAIC Motor sub-brands, including star models such as the BJ30 Electrically-driven Edition, the next-generation BJ40, the BJ60 Electrically-driven Edition, and the Alpha S5. The group will also set up a booth to demonstrate some of the core technologies exhibited at the BAIC Tech, such as the Polaris premium full-digital electric platform, the Mohe super electric drive platform, an embodied AI, and a high-computing-power intelligent cockpit.

From a BAIC Group press release

According to GM's Q1 2024 financial data released on April 23, the company's global sales in Q1 2024 were 1,348,000 units, down 2.5% from the same period last year.

The breakdown is as follows: North America: 709,000 units, up 0.3% (including 594,000 units in the U.S., down 1.5%); Asia Pacific/Middle East and Africa, led by China: 554,000 units, down 3.0% (including 441,000 units in China, down 4.5%); South America, led by Brazil: 84,000 units, down 20.8%. (including 57,000 units in Brazil, down 19.7%). The U.S. and China accounted for 44.1% and 32.7% of global sales, respectively. The US sales ratio increased relatively more due to the impact of the sales decline in China.

GM's global market share was 6.4%, down 0.5% points from 6.9% a year earlier, 14.9% in North America (15.4% in the US), 5.0% in Asia Pacific/Middle East and Africa (7.9% in China, down 1.2% points), and 10.2% in South America (11.1% in Brazil, down 4.0% points). 

In China, SAIC General Motor Sales (SGMS), which sells GM vehicles, sold 155,000 units, accounting for 41.4% of total sales in China, and SAIC GM Wuling Automobile (SGMW), which sells Baojun and Wuling vehicles, sold 287,000 units, accounting for 64.9%. SGMS's sales ratio declined 2.3 percentage points YoY.

The fleet ratio was 15.5% globally and 19.6% in North America. The two-shift utilization rate in North America was 109.7%.

GM's financial data