The GM board approves a new $6 billion share buyback program.

• The board of General Motors approved a new $6 billion stock repurchase authorization on Tuesday.
• The completion of the $10 billion share repurchase program announced in November 2023 is expected to occur by the end of this month.
• In premarket trading, GM's shares rose 1%. The stock ended Monday at $47.57, with a yearly increase of approximately 32.4%.

The board of approved a new $6 billion stock repurchase authorization for on Tuesday.

The completion of the $10 billion share repurchase program announced in November 2023 is expected to occur by the end of this month.

GM CFO Paul Jacobson stated in a release that the company is highly focused on the profitability of its internal combustion engine business, while also growing and improving the profitability of its EV business and utilizing capital efficiently. This enables the company to continue returning cash to shareholders.

GM announced that it will have a new authorization to repurchase shares after the completion of the existing reauthorization, but a timeframe for the program's completion was not disclosed.

In premarket trading, GM's shares rose 1%. The stock ended Monday at $47.57, with a yearly increase of approximately 32.4%.

Amid uncertainty about the adoption of all-electric vehicles and stalling customer demand for new vehicles, GM has announced buyback plans.

Jacobson stated that GM's investments in its brands and product portfolio, as well as its operating discipline, have resulted in consistently strong revenue growth, margins, and free cash flow over the past few years.