General Motors said Wednesday it will restate its 2023 earnings guidance, initiate a stock buyback and increase its dividend among other things now that the negotiations with the United Auto Workers is behind it.

But CEO Mary Barra said she is "disappointed" in the company's launch of its new electric vehicles this year due to battery module production problems. She vowed to fix those and increase EV production next year. Barra also confirmed that GM will be making "substantially lower spending" in its self-driving subsidiary Cruise in 2024 than it did in 2023, as previously reported by the Detroit Free Press, due to Cruise's current safety issues that resulted in halting operations.

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GM Earnings Up In Spite Of Lack Luster EV Sales

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