General Motors (GM) 2018 results increased expectations and the automaker anticipates strong GM revenues in 2019 and confirms the strength of its largest markets despite wind fluctuations. GM also said that the exclusive Cadillac brand is the "tip of the tip" for future electric cars. GM stock jumped on the news.
At the beginning of Friday, GM said that 2018 EPS will exceed previous guidelines of $ 5.80- $ 6.20. It also expects to surpass an earlier perception of an adjusted $ 4 billion car-free flow.
GM presented a smoother lighter picture for 201
"Our transformation is still a very dynamic process," says GM CEO Mary Barra of an investor and analyst. GM continues to strengthen its core business while investing in technology that transforms future mobility, she added.
GM Stock Soars
GM stock jumped 8.5% to 37.69 in the morning stock market trading Equities valued over the 50 day and 200 day moving averages
GM Investor and Analyst Day Highlights
The highest US automaker highlighted these measures underlying its bullish perspective:
Investing in higher yield products The new Cadillac XT4 and Chevrolet Blazer SUV, and all-new Cadillac XT6 luxury SUV, will boost speed In 2019, GM said, in addition, GM will benefit from a full year of sales of the all-new Chevrolet Silverado and GMC Sierra full-sized pickups. "GM has a" great competitive advantage "on the combined strength of the GMC and Chevrolet brands, says GM President Mark Reuss. It also increases the retail market share in the truck segment, with average transaction prices exceeding key rivals, GM said. GM dominates truck sales in the United States along with Ford Motor (F). GM continues to move from long-selling sedans because it is investing its future on pickup trucks and SUVs.
All-new lineup of vehicles in international markets . GM plans to launch more than 20 brand new or updated vehicles, including the crossover, in China in 2019. It represents "the strongest mix of products we've ever come to China," said Matt Tsien, GM China President, to investors. The Chinese market is GM's largest, ahead of US general engines, said Friday it shows China "constructively" despite recent storms, including slowing down the entire industry sales. It sees 2019 Chinese car sales, across the industry, as roughly in line with 27 million units last year. It sees "improvement in the macro environment" in South America, another important market where it faces challenges.
Commercial robot service: GM says it is still the right way to start a robot fax service later this year. GM said last year raised a total of $ 5 billion of external capital for its own Cruise Cruise, including an investment of $ 2.25 billion in May by Japan's Softbank Vision Fund. Cruise has just signed a partnership with DoorDash for food delivery. It is a way that automaker hopes to tap what Reuss called "new and potentially lucrative revenue streams" for the mobility industry. The company also reported progress on the development of a "self-built" autonomous vehicle.
Cadillac will be GM's leading electric vehicle brand: Cadillac becomes GM's leading EV brand and will have a brand new battery vehicle architecture, GM said. It signals that GM, which previously launched the small Chevrolet Bolt, moves toward luxury electric vehicles like European automakers, chasing Tesla (TSLA).
The new battery architecture will be "modular" and "flexible," says GM, making it easy to integrate into a wide range of body styles, from cars and vans to crossovers and SUVs. The key components, battery cells, and battery system are Also, intended for use over vehicle segments.
In China, the largest EV market in the world, GM says that half of its planned new models in the coming years will become "new energy vehicles" models, GM said. a growing luxury segment and Cadillac will be "the tip of the company's spear in EVS," says Reuss.
GM cost savings adds: 2020 expects about $ 6 billion in savings. a plan since 2018 to cut thousands of work breaks and shut down several plants.
Ford Cutting Jobs
One day earlier, Ford Motor (F) said there will be thousands of jobs in Europe as it aims to improve profitability. Ford Stocks increased by 1.8% on Friday.
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