07:33 AM EDT, 06/11/2024 (MT Newswires) -- General Motors ( GM ) said Tuesday that its board of directors has approved a new share repurchase program to buy back up to $6 billion of the company's outstanding common stock.

The company launched a $10 billion accelerated share repurchase program in November 2023, with about $1.4 billion in remaining capacity under its previous share buyback authorization, according to General Motors ( GM ).

The company said it repurchased $300 million of its shares during Q1 and expects to exhaust the remaining $1.1 billion of the previous authorization before the end of Q2.

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