Cruise CEO Kyle Vogt Resigns in Wake of Driverless Operations Pause at General Motors

November 21, 2023

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General Motors ($NYSE:GM) is one of the world’s largest automakers, producing a wide range of vehicles ranging from luxury cars to commercial trucks. Recently, the company has been making strides in the area of autonomous driving technology. As such, Kyle Vogt, the CEO of Cruise, General Motors’ self-driving car subsidiary, has resigned his position only a short time after suspending the company’s driverless operations. The decision to suspend the operations came as a surprise to many, as General Motors had been making considerable progress in the industry. Despite being one of the first companies to receive a permit to test autonomous vehicles on California’s public roads, the company has recently encountered numerous setbacks.

These issues have caused GM to pause its testing until further notice. His resignation from the position signals a significant shift in the direction of General Motors’ autonomous driving operations. It remains to be seen whether or not the company will be able to recover from this setback and continue its development of driverless technology.

Stock Price

On Monday, Kyle Vogt, the CEO of General Motors‘ self-driving car unit, Cruise, announced his resignation following the company’s decision to pause their driverless operations. This news came as a surprise to Wall Street as General Motors’ stock rose 1.7% from the prior closing price of 28.0 to open at $28.2 and close at $28.5. The press release for Vogt’s resignation cited that he will now focus on future technology investments and entrepreneurial activities unrelated to Cruise. Following the news, GM CEO Mary Barra released a statement expressing her appreciation for Vogt’s leadership, while emphasizing that Cruise’s driverless operations will continue to be paused while the company shifts its focus to customer safety.

GM has since begun the search for Vogt’s successor and is confident that they will be able to find a leader with deep knowledge of the industry. Vogt’s resignation came as a shock to many, but it is clear that he left behind a strong legacy at Cruise. GM will be looking to his replacement to continue his work and build on the foundation he established over the past five years. Live Quote…

About the Company

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    Below shows the total revenue, net income and net margin for General Motors. More…

    Total Revenues Net Income Net Margin
    171.97k 9.93k 5.9%
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    Operations Investing Financing
    22.9k -19.01k 1.51k
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    Below shows the total assets, liabilities and book value per share for General Motors. More…

    Total Assets Total Liabilities Book Value Per Share
    281.7k 202.98k 54.38
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    Some of the financial key ratios for General Motors are shown below. More…

    3Y Rev Growth 3Y Operating Profit Growth Operating Margin
    14.1% 49.1% 7.5%
    FCF Margin ROE ROA
    -0.5% 11.0% 2.8%
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  • Analysis

    GoodWhale has conducted an analysis of GENERAL MOTORS‘s fundamentals and according to Star Chart, GENERAL MOTORS has an intermediate health score of 6/10 considering its cashflows and debt, indicating that it is likely to sustain future operations in times of crisis. Our analysis further showed that GENERAL MOTORS is strong in dividend, and medium in asset, growth, and profitability. Based on these results, GENERAL MOTORS is classified as a ‘cheetah’, a type of company that has achieved high revenue or earnings growth but is considered less stable due to lower profitability. Given its higher risk profile, investors who are looking for high-risk, high-reward investments may be interested in GENERAL MOTORS. Such investors are likely to be more aggressive and have higher risk tolerance. They will also likely monitor GENERAL MOTORS closely in order to capitalize on any positive announcements or news in order to maximize returns. Investors who prefer more conservative investments should take caution when investing in GENERAL MOTORS and should keep an eye on any negative news or announcements about the company. More…

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  • Peers

    General Motors Co, Stellantis NV, Toyota Motor Corp, and Ford Motor Co are all leading automobile manufacturers. They each have their own unique history and strengths, but they are all competitive in the market today.

    – Stellantis NV ($NYSE:STLA)

    Stellantis NV is a holding company that was created in 2021 through the merger of Fiat Chrysler Automobiles and Groupe PSA. The company is headquartered in the Netherlands and is majority owned by the French automaker Groupe PSA. Stellantis is the fourth-largest automaker in the world by sales, with a portfolio of 14 brands that include Fiat, Chrysler, Jeep, Dodge, Ram, Alfa Romeo, Lancia, Maserati, Peugeot, Citroën, DS, Opel, and Vauxhall.

    – Toyota Motor Corp ($TSE:7203)

    Toyota Motor Corp is a Japanese multinational corporation that manufactures vehicles. It has a market cap of 27.43T as of 2022 and a Return on Equity of 11.32%. The company produces vehicles under five brands, including Toyota, Lexus, Daihatsu, and Hino.

    – Ford Motor Co ($NYSE:F)

    Founded in 1903, Ford Motor Company is an American multinational automaker that has its main headquarters in Dearborn, Michigan. The company sells automobiles and commercial vehicles under the Ford brand and most luxury cars under the Lincoln brand. Ford also owns Brazilian SUV manufacturer Troller, an 8% stake in Aston Martin of the United Kingdom, and a 49% stake in Jiangling Motors of China. It also has joint-ventures in China, Taiwan, Thailand, Turkey, and Russia. The company is listed on the New York Stock Exchange and is controlled by the Ford family; they have minority ownership but the majority of the voting power.

    As of 2022, Ford Motor Company’s market capitalization is $47.32 billion, and it has a return on equity of 23.7%. The company’s main business is the manufacture and sale of automobiles and light trucks. In addition to its core automotive business, Ford also operates in the financial services sector through its Ford Motor Credit Company subsidiary.


    General Motors (GM) has been a well-known name in the automotive industry for over a century, and it is currently the world’s largest automaker. GM recently announced Kyle Vogt, CEO of Cruise, their driverless car subsidiary, will be resigning from the company less than a month after pausing driverless operations. Despite this, GM continues to remain a sound long-term investment due to its strong market position and diverse portfolio.

    GM has also been actively engaged in initiatives to improve their operations and cut costs, which will likely lead to improved margins and higher profits. For investors seeking a well-established auto stock with great potential, General Motors is a solid pick.

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