GM Stock Surges 111.71% in Trading Volume Ranking 64th Amid EV Market Weakness and Layoffs

On April 14, 2025, General Motors (GM) saw a significant surge in trading volume, with a total of 9.88 billion shares exchanged, marking an 111.71% increase from the previous day. This surge placed GM in the 64th position in terms of trading volume for the day. The stock price of GM also experienced a notable increase, rising by 3.46%.

GM has recently announced temporary layoffs affecting approximately 700 workers across its US and Canadian plants. The layoffs are attributed to weak demand in the electric vehicle (EV) market. The company has paused production at its Windsor Assembly Plant in Canada for two weeks, with operations set to resume on April 21. Additionally, GM's Propulsion plant in St. Catharines has seen its workforce reduced by half, now standing at 600 workers, as the company delays a scheduled EV refit. These layoffs are part of a broader trend affecting auto workers in the region, with hundreds of workers in Metro Detroit also temporarily out of work.

The United Auto Workers (UAW) president, Shawn Fain, has expressed support for tariffs as a means to bring back domestic manufacturing jobs. In an interview, Fain argued that free-trade deals like NAFTA have been detrimental to American autoworkers, leading to job losses and a decline in the standard of living. He believes that strategically implemented tariffs can help reverse this trend and bring manufacturing jobs back to the US. Fain also criticized the corporate class for benefiting from these trade deals at the expense of workers and communities.

Fain's support for tariffs comes amid concerns from some workers about the potential impact on their 401(k) savings and the broader economy. However, he maintains that the long-term benefits of bringing back manufacturing jobs outweigh the short-term pain. Fain also emphasized the importance of ensuring that any jobs brought back are good-paying jobs with adequate benefits and retirement security.