GM

Mortgage Rates Continue to Rise: What This Means for Potential Borrowers?

3 days ago

The latest report published on November 27, 2024, reveals that mortgage rates in the U.S. continue to steadily rise, causing concern for potential borrowers. The rate for 30-year fixed mortgages has reached 7.25%, marking the highest level since 2001. This significant increase compared to previous months has raised eyebrows among industry experts.

Hyundai Considers Rebranding GM Trucks Under Its Own Label

9 days ago

According to the latest rumors, Hyundai is considering the possibility of launching trucks that were previously manufactured under the General Motors brand. These vehicles might be refurbished and sold under the Hyundai label. This move has become feasible due to an agreement between Hyundai Motor Group and GM, which involves shared platforms and technologies.

Mortgage Market: Rates Continue to Rise, Pressuring Home Buyers

9 days ago

According to the latest data released on November 21, 2024, mortgage rates in the United States have continued to rise, putting additional pressure on home buyers. The average interest rate for a 30-year fixed mortgage has now reached 8.1%, marking an increase compared to previous weeks. This rise in rates comes amid strengthening economic conditions, inflation growth, and the Federal Reserve's decision to maintain its aggressive policy of raising interest rates.

Major Changes at GM: Job Cuts and Proving Ground Closures

12 days ago

General Motors (GM) has announced plans to cut jobs and close several of its proving grounds in the United States. This decision comes in response to the need to reduce costs and streamline production processes amid increasing competition in the automotive market and a shift towards electric vehicles.

General Motors Issues Recall for Trucks and SUVs Due to Potential Wheel Lock-Up

14 days ago

General Motors has announced a recall of vehicles, including pickups and SUVs, amid concerns that the wheels could lock up while in motion. This issue could arise under specific conditions, significantly increasing the risk of accidents.

Inflation in the US Sees an Uptick: New CPI Data for October 2024

17 days ago

According to a report released by the Bureau of Labor Statistics, the Consumer Price Index (CPI) increased by 0.4% in October 2024. This rise surpassed analysts' expectations, who had forecasted a more modest increase of 0.3%. Year-on-year, the CPI grew by 3.7%, which was also higher than previously predicted. The surge in housing, food, and energy prices was the main driver of this increase.

GM and Lucid Motors Join Forces for Innovative Drive Unit Patent

25 days ago

General Motors (GM), in collaboration with Lucid Motors, has filed a patent application regarding a new drive unit that is expected to significantly enhance the efficiency and performance of electric vehicles. This joint project aims to lower production costs and improve the integration of various technologies utilizing electric motors. The patent describes a system that can adapt to different operating conditions, ensuring optimal energy utilization and increasing the overall range of electric cars.

Canada's Housing Market Shows Signs of Recovery Amid Lower Interest Rates

2 months ago

Recent reports indicate that Canada's housing market is experiencing a resurgence, attributed largely to a decrease in interest rates. Following a prolonged period of sluggish activity, potential homebuyers are beginning to re-enter the market. The reduction in rates is making mortgage payments more manageable, encouraging many Canadians to consider purchasing properties that were previously out of their financial reach.

US Mortgage Rates Decline: Boosting Housing Market Optimism

2 months ago

Recent data shows that mortgage rates in the United States continue to decline, which is leading to a positive shift in sentiment in the housing market. According to Freddie Mac, the average mortgage rate has dropped to 7.18%, significantly down from a peak of 7.37% just a few weeks ago. This trend is linked to a decrease in bond yields, driven by expectations regarding economic changes and future monetary policy adjustments.

The Future of Kia Stinger: The Arrival of the Electric GT Version

2 months ago

Having made a significant impact since its debut, Kia's sporty vehicles continue to capture the attention of fans and experts alike. In a recent interview, Kia's general manager, Ted Clayton, hinted at the possibility of developing an electric version of this model. This news comes amid the global trend of electrification in the automotive industry and the increasing interest in high-performance electric vehicles.