DETROIT — General Motors is raising its 2023 guidance for a second time this year after the automaker reported second-quarter results Tuesday that were up sharply year over year.
The Detroit automaker also said it is increasing cost-cutting measures through next year and now plans to reduce $3 billion in expenditures compared with previous guidance of $2 billion.
On an unadjusted basis, the company reported net income attributable to stockholders of $2.57 billion, or $1.83 per share, up nearly 52% from a year earlier when it earned $1.69 billion, or $1.14 per share.
Revenue during the quarter jumped 25% compared with $35.76 billion a year earlier.
For the full year, GM is raising its adjusted earnings expectations to a range of $12 billion to $14 billion, up from a previous range of $11 billion to $13 billion. GM also increased expectations for adjusted automotive free cash flow to a range of $7 billion to $9 billion, up from $5.5 billion to $7.5 billion, and for net income attributable to stockholders of $9.3 billion to $10.7 billion, compared with the previous outlook of $8.4 billion to $9.9 billion.
GM will lobby the new President to postpone Biden policy after Biden lost the coming presidential election lah. Probably will spend billions to topple Biden lah. Haiyoh. Correct? ========
that is the only thing that makes sense.
don't forget, the chip companies will also want Biden out as they lost so much sales in China
one thing people who are not EV God cannot understand is..........ice car is a car, EV is also a car............how come legacy companies cannot make money selling EV?
and that is the problem for them....................GM is still losing money on every EV sold. but told Biden they are ready. so, their own strategy all over the place. .................... EV God says they sure die.
EV God says., in war, if your soldiers fight don't fight you sure lose............in this battle, if have to be like Cao cao, and sink the ships so your soldiers cannot retreat if u want to succeed.
EV God says., in war, if your soldiers fight don't fight you sure lose............in this battle, u have to be like Cao cao, and sink the ships so your soldiers cannot retreat if u want to succeed.
GM Ford and all legacy companies are led by MBAs, Tesla, BYD and Chinese EV are led led by Cao Cao............. in the age of disruptions and S curves all the MBAs and many little Cao Caos will die and the survivors are Tesla , BYD and a few other Chinese EV..............China has 100 EV companies, by 2030 only a few will be left.
BYD has call on all Chinese EV makers to defeat the foreign brands. .... Toyota says that is being racists. ........... on weibo, Chinese users says that is nationalism not racists.
In this age of disruption the true winners are the consumers in developing countries. Soon they will get ev with 1000 km range and cheaper than Toyota Corolla
On March 27, 2022, Li confirmed WeLion as Nio's semisolid-state battery supplier at a forum, saying the two plan to launch a hybrid solid-liquid electrolyte battery with a 1,000-kilometer range on a single charge, based on the ET7 model
In China they are not just buying cars...they are buying iPhones on wheels.....not just in China but this consumer taste will spreading around the world that is where legacy companies strength become irrelevant.
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Posted by qqq47660 > 2023-08-16 11:36 | Report Abuse
even if Toyota honda decides to pivot, they can't...............their problems starts with C.