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Tag Archives: gm earnings
GM Projects Strong Earnings, Improved Cash Flow in 2019
In 2019, despite a diminishing car market, GM expects the overall U.S. market to remain strong, projecting total industry sales in the low 17-million range. The company will benefit from a full year of volume from GM’s all-new Chevrolet Silverado and GMC Sierra light-duty full-size pickups. The trucks have contributed to retail market share growth in the light- duty pickup segment every month since August, with average transaction prices that have surpassed those of key competitors. Continue reading
Posted in economy, electric vehicles, financial results, news analysis
Tagged auto industry commentary, autoinformed, autoinformed.com, automotive blog, connected vehicles, cruise, GM 2019 business plan, GM 2019 Earnings forecast, gm china, gm earnings, honda, Ken Zino, new vehicle reviews
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GM Earnings Flat at $1.4 Billion in Booming Market
However, past management decisions, positions in offshore markets, the failed attempt to take Chevrolet global and currency fluctuations continued to hurt shareholders. In total special items of $1.1 billion negatively affected the operating performance. Continue reading
Posted in financial results
Tagged autoinformed, autoinformed.com, gm earnings, Ken Zino
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GM Earns $1.2 Billion in Q2 or 75 Cents a Share
With the exception of China where most vehicle buyers are new, GM brands continue to face strong competition. Even though GM continues to receive quality awards and strongly positive reviews on new products, and has once again become competitive in the leasing market, it is having a tough time stealing buyers from competitors. Part of this is due to its damaged reputation; part is the strength of facing products with strong customer loyally. Continue reading
Posted in auto news, financial results
Tagged autoinformed, autoinformed.com, gm earnings, Ken Zino, q2
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GM Q3 Earnings of $1.7 Billion, Most from North America
Virtually all of the Q3 earnings came from North America – $2.2 billion, where Japanese competitors were largely out of the market during the period because of the Japan earthquake, which allowed GM to increase prices. GM Europe lost money; GM South America broke even; and International Operations – home of the booming China market – made $400 million. Continue reading
GM CEO Akerson Buys Another 10,000 Shares at $25.05
Akerson vowed this week that there was plenty of upside in GM stock given its new structure and emphasis on managing costs. On a cost cutting side, one program with great promise involves vehicle architectures. Akerson said “We need to simplify.” The company said that by 2018 it plans to cut that number to 14 from the 30 currently use.
Skeptics, and there are many, say show us the earnings per share and start paying dividends. Well, at least Akerson is putting his money where his promises are, so to speak. Continue reading
GM Stock Below $25 down from $39 High as Conference Opens
During the program, senior leaders reviewed GM’s progress and outline plans for further improvement. In a sense GM is playing a “beat the reaper” game – can GM increase share and sales of less profitable small cars such as the Chevrolet Sonic, which is just entering production, at a greater rate than the drop off in truck sales and larger per unit profits in North America, while growing in Eastern Europe, South America and Asia? Continue reading
Posted in auto news, economy, financial results, news analysis, results, sales
Tagged auto informed, auto news, autoinformed, autoinformed.com, automotive news, dan akerson, GM, gm business plan, gm earnings, gm global business conference, gm ipo, gm outlook, gm returns, gm stock price, Ken Zino, zino
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General Motors Posts Q2 Earnings of $2.5 Billion. Most in N.A.
Virtually all of GM’s earnings – $2.2B – came from North America, a worrisome development for the most international of the Detroit 3, whose largest markets are China, followed by the United States, Brazil, the United Kingdom, Germany, Canada, and Italy.
Earnings were helped by booking revenue from pickup trucks shipped to North American dealers. GM built 516,000 light trucks in Q2, up 14% from a year earlier. Passenger car production increased 10% to 308,000. GM dealers currently have 209,000 pickups in stock – the equivalent of a 115 days supply in an industry that considers 60 days normal. Continue reading
Posted in auto news, financial results, news analysis, results, sales
Tagged auto informed, auto news, autoinformed, autoinformed.com, automotive news, earnings, gm earnings, Ken Zino, q2 gm results, results, zino
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General Motors Q3 2024 Earnings Up. Guidance Raised Again
General Motors (NYSE: GM) today posted flat Q3 net earnings ($3.1 billion), but with pretax earnings up ~16%. GM’s adjusted earnings before interest and taxes were $4.1 billion in the quarter. Global revenue ~11% to $48.8 billion. North American pretax earnings rose 13% to ~$4 billion. Moreover, GM raised its earnings guidance for the third straight time this year. GM’s 2024 financial guidance includes anticipated capital spending of $10.5 billion – $11.5 billion, inclusive of investments in the company’s battery cell manufacturing joint ventures.
“In the third quarter, we grew U.S. retail market share with above-average pricing, well-managed inventories and below-average incentives. In China, sales improved from the second quarter, and dealer inventory fell sharply. In addition, we remain on track to reach our 2024 EV production and profitability targets,” said Mary Barra, GM Chair and CEO. Continue reading →