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Industrial robots assemble vehicles inside a modern automotive factory. Illustrative image.
Michigan Republican and UAW Criticize GM Over $20 Billion Buyback Plan
DETROIT — October 21, 2026
Michigan Republican Senate candidate Mike Rogers and the United Auto Workers (UAW) union have criticized General Motors (GM) over its plan to buy back $20 billion in company shares, accusing the automaker of prioritizing investors over workers.
Rogers, a former member of the US House of Representatives, said GM had spent too much on electric vehicles (EVs) instead of investing more in Michigan workers and manufacturing. He argued that the company’s decisions had placed profits ahead of the interests of autoworkers.
“GM lost billions investing in EVs nobody wanted,” Rogers said in a statement, criticizing the company’s electric vehicle investments and its decision to announce the buyback plan.
The criticism comes as Rogers campaigns against Democratic candidate Abdul El-Sayed in Michigan’s closely watched November 3 Senate election. Rogers is seeking to help Republicans retain or expand their influence in the Senate, while the party has increasingly appealed to blue-collar voters in Michigan, a state whose economy remains closely connected to the automobile industry.
The UAW, which has endorsed El-Sayed, also condemned GM’s plan. The union called the buyback “outrageous,” arguing that many autoworkers lack pensions or retiree healthcare benefits. It said the company was choosing financial returns for investors over the needs of workers.
UAW President Shawn Fain also criticized stock buybacks, arguing that they direct money generated by workers toward Wall Street investors rather than factory employees.
GM has repurchased about $29.5 billion in its own shares since 2023. Chief Executive Mary Barra has said the company considers its stock undervalued.
Responding to the criticism, GM said its first priority was investing in its business and employees. The company said it had reinvested more than $100 billion since 2020 to support its products, factories and workforce.
Rogers did not explain how GM’s electric vehicle investments directly influenced its decision to announce the new buyback plan. His criticism also marks a departure from his usual focus on government policies promoting EV adoption rather than criticism of automakers themselves.
GM has reduced some of its electric vehicle production and investment plans amid weaker-than-expected demand and policy changes under President Donald Trump. The company has recorded $11.2 billion in EV-related charges since last year.
Rogers has frequently argued that policies encouraging EV adoption threaten American manufacturing jobs. In July, he appeared with Trump at an event at a GM facility in Michigan, where they criticized policies designed to accelerate the transition to electric vehicles.
The dispute highlights the growing debate over how automakers should balance investment in new technology, returns for shareholders and support for their workers. With Michigan’s auto industry playing a central role in the state’s economy, the disagreement also places GM’s financial decisions into the wider political debate ahead of the Senate election.
