“The open market share repurchases supplement the ongoing $10 billion ASR that is projected to be completed in the fourth quarter of this year, bringing our share count down to 1.1 billion.”

In context

“the same time our U.S. retail market share increased by 70 basis points, more than offsetting the lower fleet volume to rental companies. Our EV portfolio is gaining momentum. In the second quarter, our U.S. EV deliveries were up 34% sequentially from the first quarter, driven by the Chevrolet Blazer EV and the Cadillac LYRIQ. And moving forward, we'll also benefit from the Chevrolet Equinox EV, which delivers more than 300 miles of range and will be sub $30,000 after factoring in the consumer tax credit. On capital allocation, we repurchased $1 billion of stock in the quarter, retiring another 22 million shares. And in early July, completed the prior $5 billion stock authorization. We ended the quarter with a fully diluted share count of $1.14 billion, a reduction of 18% from a year ago. The open market share repurchases supplement the ongoing $10 billion ASR that is projected to be completed in the fourth quarter of this year, bringing our share count down to 1.1 billion. As a reminder, on the ASR, we paid the $10 billion upfront in December of last year and immediately retired 215 million shares. In the first quarter, the first tranche was completed and we retired another 4 million shares. In the second quarter, no additional shares were retired under the ASR as the banks continued to cover their positions in the 215 million shares they borrowed at the outset of the program. In the fourth quarter, we expect to retire another 20 million to 30 million shares depending on several factors, including the average share price during that period, bringing the total number of shares retired under the ASR to around 250 million. On top of these measures, last month the board authorized an additional $6 billion for share repurchases. Considering our belief that GM's”