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GM's Electric Push: A Bumpy Ride for Investors

Detroit, USAWednesday, October 9, 2024

General Motors (GM) held an investor day, but Wall Street seemed unimpressed. GM highlighted plans to boost profits for both electric and traditional vehicles. While GM believes it's ahead in the EV race, investors are waiting for more details. GM's CEO, Mary Barra, focused on efficiency and cost discipline. President Mark Reuss took jabs at competitors Ford and Stellantis. Shares of GM didn't move much after the event.

Analysts had mixed views, noting GM's achievements but lacking strategy. For 2025, GM expects earnings similar to this year. EV losses are projected to decrease by $2-4 billion. GM is scrapping the "Ultium" name for its EV batteries. Traditional vehicle sales and profits are expected to keep growing. GM plans more share buybacks. Updates on Cruise and China disappointed investors.

ford general motors china wall street president mark reuss mary barra

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