General Motors (GM) Stock: GM Just Bet Big on Canada With Tariffs Bearing Down
TLDR
- GM has reached a tentative deal with Unifor to invest C$1.1 billion ($791 million) in Canadian operations, covering plants in Oshawa, St. Catharines, and Ingersoll.
- The investment includes bringing next-generation GMC Sierra heavy-duty pickup production to Oshawa and a new transmission line starting in late 2029.
- Canada’s auto sector faces 25% U.S. tariffs now, with rates set to rise to 50% on January 1, 2027.
- GM stock opened at $86.31 on Friday, with analysts holding a consensus price target of $101.41 and a “Moderate Buy” rating.
- NHTSA has opened an engineering analysis covering nearly one million GM pickups and SUVs over potential engine failures with the L87 V-8 engine.
GM plans to invest C$1.1 billion in its Canadian operations after reaching a tentative labor agreement with Unifor, the union representing 4,600 GM workers in Ontario.
The deal covers three facilities and comes as Canada’s auto industry faces rising U.S. tariffs.
GM stock opened at $86.31 on Friday. The stock has a 52-week range of $54.33 to $91.85, and sits above its 50-day moving average of $82.54 and its 200-day moving average of $79.63.
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