General Motors (NYSE:GM) is reshaping strategy—taking a $6B charge to dial back EV capacity and refocus some plants on gasoline trucks while keeping current EVs for sale, striking a five‑year Micron memory deal, seeing EV sales fall 37% and facing a shareholder probe amid strong truck margins and U.S. market leadership.
Previous Week Recap
- GM Cuts EV Capacity, Shifts Orion: In Jan 2026 GM took a $6B charge to cut EV capacity, shift Orion and a Michigan plant from EVs to gasoline full‑size trucks/SUVs, while keeping current EV models on sale.
- GM-Micron Five-Year Supply Deal: GM struck a long-term supply deal with Micron for LPDRAM, NOR and UFS NAND via five‑year take‑or‑pay contracts tied to annual purchase commitments and Micron’s $2B Manassas capacity upgrade.
- GM Q2 EVs ~29k, 37% Decline: GM Q2 EV sales ~29,000 units, down 37% year‑over‑year. Company sells EVs to dealerships, not directly to consumers—contrast with direct-sale rivals.
- GM US Market Led Despite Dip: GM led the US market despite a decline. Strong truck/SUV demand, solid margins from pricing and incentives, average transaction price >$52,400, and six entry-level Chevy/Buick models near $30,000.
- Halper Sadeh Probes GM Officers: Halper Sadeh LLC launched an inquiry July 3, 2026 into GM officers and directors for possible breaches of fiduciary duty, seeking governance reforms or other remedies on behalf of shareholders.
- GM Korea June Sales Rise 6.6%: GM Korea reported June retail sales of 48,134 vehicles, up 6.6% year‑over‑year; no further sales breakdowns or financial details were provided.
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