The GM Board of Directors approved an additional $5B in common stock repurchases under its existing share repurchase program, which was announced March 9, 2015.

The new authorization, which has no expiration date, brings the total under the program to $14B. Share buybacks for the program's initial authorization of $5B were completed in the third quarter of 2016, one quarter earlier than planned. In the fourth quarter of 2016, the company also completed $1B of the next $4B authorization declared in January 2016.

The company expects to meet its prior commitment to repurchase $9B of common stock by the end of 2017.