Third quarter profit decreased by 7.32%! General Motors withdrew its annual profit forecast and slowed down its electric vehicle strategy
以神的名义屑
发表于 2023-10-28 09:22:07
1329
0
0
Recently, General Motors released its third quarter financial report, with a revenue of approximately $44.131 billion, a year-on-year increase of 5.35%. The net profit attributable to ordinary shareholders was $3.038 billion, a year-on-year decrease of 7.32%.
Regarding the decline in profits in the third quarter, General Motors stated that part of the reason was due to the impact of the UAW strike. According to General Motors' estimates, the company may lose an additional $200 million per week of strikes. It is worth noting that General Motors has withdrawn its full year profit forecast due to the uncertainty brought about by the auto workers' strike. Previously, the company had expected pre interest and tax profits to reach $12 billion to $14 billion in 2023.
General Motors CEO Mary Bora also stated that due to the UAW strike affecting revenue and profits, the company will slow down its electric vehicle strategy and prioritize profit targets over sales targets. Mary Bora stated at the financial report meeting that the company is optimistic that an agreement with the union will be reached soon. In fact, on October 26th, General Motors and Stellantis engaged in intensive negotiations with UAW to end a six week long strike.
Daily economic news information chart
General Motors reiterated in its financial report that its target of producing 1 million electric vehicles in the US and China markets by 2025 has not changed. However, it is not easy for General Motors to achieve this plan.
In terms of terminal sales, General Motors sold approximately 1.619 million vehicles globally in the third quarter, of which 674300 were sold in the US market, a year-on-year increase of 21%. The performance of the Chinese market is relatively sluggish.
Photographed by journalist Zhang Jian (data image)
The Chinese market is crucial for its global growth strategy and is adopting a multi brand strategy. In the coming years, General Motors plans to leverage its global architecture to increase the number of products from Buick, Chevrolet, and Cadillac brands in China, and continue to develop business under local brands such as Baojun and Wuling, while accelerating the development and launch of various brands of electric vehicles in China General Motors emphasized in its financial report that it will continue to promote the landing of electric vehicles in the Chinese market in the future.
General Motors has always expressed a positive attitude towards the transformation of electrification to the outside world, and has also announced investing $35 billion in the fields of electrification and intelligence. In addition to increasing its own research and development, General Motors announced with Honda a year and a half ago that they would jointly develop an electric vehicle with a cost of less than $30000 and plan to launch it in 2027. But on October 26th, both confirmed that they would abandon this plan due to lower than expected market demand and constantly changing market conditions.
General Motors spokesperson Daryl Harrison stated that other partnerships between the two companies are still ongoing, including the agreement for General Motors to produce the 2024 Prologue EV pure electric SUV for Honda. The two companies have also established a cooperative relationship in hydrogen fuel cells and autonomous vehicle.
Mary Barra explained that General Motors is adjusting its electric vehicle strategy, and previous attempts to drive the entry-level market will no longer be its future goal. General Motors' current main focus will be on reducing future vehicle production costs. Slowing down the production of electric vehicles can help protect market pricing. Although General Motors' performance in the field of electrification is still on the rise, the company's goal of achieving profitability in electric vehicles by 2025 remains unchanged.
CandyLake.com 系信息发布平台,仅提供信息存储空间服务。
声明:该文观点仅代表作者本人,本文不代表CandyLake.com立场,且不构成建议,请谨慎对待。
声明:该文观点仅代表作者本人,本文不代表CandyLake.com立场,且不构成建议,请谨慎对待。
猜你喜欢
- Fuel leakage hazard after collision: General Motors recalls 8622 vehicles in the United States
- Third quarter sales guidance lower than market expectations, ASML falls more than 4%
- ASML's Q3 performance outlook falls short of expectations, with an overnight drop of 12.74% | From Wall Street to Lujiazui
- Tesla has fallen out of favor? California registration volume dropped by 24% in Q2 and has been declining for three consecutive quarters
- General Motors' Q2 revenue of $47.97 billion increased by 7.2% year-on-year
- General Motors launches new performance ranking system in the United States, offering more bonuses to 5% of employees who exceed expectations
- SAIC General Motors announces four senior personnel changes, with the appointment of General Manager and Deputy General Manager
- General Motors responds to rumors of restructuring its China business, layoffs, and capacity cuts
- Baidu: Q2 core profit growth of 23% exceeds expectations, cloud business accelerates growth
- General Motors plans to lay off two-thirds of its Kansas factory workers
-
9月が終わり、映画・テレビ業界が暗躍している。最近、愛奇芸の創始者でCEOのGONG宇氏は、映画・テレビ業界が長短の変化、AIの変化、中国映画・テレビドラマの海外進出の変化の3つの変化を経験していると発表した。 ...
- 寒郁轩良
- 昨天 14:17
- 支持
- 反对
- 回复
- 收藏
-
8月のトヨタ自動車(ダイハツ自動車と日野自動車を除く、レクサスを含む)の世界生産台数は前年同月比11.2%減の709571台、世界販売台数は前年同月比3.1%減の826863台だった。 日本本土市場では、トヨタ自動車の8月 ...
- SOGO
- 3 天前
- 支持
- 反对
- 回复
- 收藏
-
ネットワーク状況監視サイトDownDetectorによると、オーディオストリーミングプラットフォームSpotifyは日曜日に約3時間にわたる障害を経験した後、正常に回復し、ピーク時には米国の4万人以上のユーザーに影響を与 ...
- hecgdge4
- 昨天 09:33
- 支持
- 反对
- 回复
- 收藏
-
百済神州(688235.SH)はA株の有名な革新薬企業で、2017-2024年上半期、同社の各期の研究開発投資はA株の化学製薬会社(申万二級)の中で最も高く、研究開発費用は合計600億元を超えた。 しかし、百済神州にとって ...
- wylz8473
- 前天 18:36
- 支持
- 反对
- 回复
- 收藏