Stock Movers GM Sales Tumble; Globalstar Rallies; Airlines Fall
Apr 2, 2026
A rundown of major market movers, from a sharp dip in an automaker's U.S. sales and big SUV declines to wider auto market trends and used-car dynamics. Coverage of a satellite provider rally after takeover talks with a tech giant. A look at airline and cruise share weakness as rising fuel costs cloud travel outlook.
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Higher Fuel Costs Hit Big SUV Sales
- Rising fuel prices are reducing demand for large SUVs and new cars.
- General Motors Q1 sales fell 9.7% and models like the Cadillac Escalade and Chevy Suburban dropped about 17%, while new car average price remains near $50,000.
Host Observes Buyers Hesitate And Finds A Cheap Chevy
- Paul Sweeney notes buyers may delay car purchases when gas is expensive and used cars can be a better deal.
- He remarks the average new car price is still $50,000 and recounts seeing an affordable Chevrolet made in Korea on Fifth Avenue.
Amazon Eyes Globalstar For Satellite Ambitions
- Amazon is reportedly in talks to buy satellite operator Globalstar to expand satellite internet ambitions.
- Globalstar operates higher-orbit satellites for device connectivity, not low-orbit high-speed broadband like Starlink, and Apple owns ~20% of Globalstar.