“The biggest driving force behind our financial results is customer demand for our vehicles, which have now led the U.S. industry in initial quality for two consecutive years. We have earned four consecutive quarters of higher retail market share in the U.S. versus a year ago with continued strong pricing and incentive discipline, we’re leading in both commercial and total fleet deliveries calendar year to date, and we’re growing profitably in international markets such as Brazil and Korea,” said CEO Mary Barra.

“We’re also spending less and lowering our capital spending guidance because we’re focusing on the most strategic internal combustion engine and EV programs, and our highest impact growth initiatives, including Cruise, BrightDrop and software-defined vehicles,” said Barra.