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GM Affirms Financial Targets for 2016
General Motors Co. reiterates its guidance for a profit this year of as much as $6 per share and says it expects to surpass its goal of cutting costs $5.5 billion during the four-year period 2015-2018.
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General Motors Co. reiterates its guidance for a profit this year of as much as $6 per share and says it expects to surpass its goal of cutting costs $5.5 billion during the four-year period 2015-2018.
The company says it is structured to deliver a profit even if the U.S. passenger car and light truck market shrinks 40% to 10.5 million units. The company notes the $3.1 billion it has saved since the beginning of last year more than offset investments in such areas as autonomous vehicles and ride-share ventures.
Many analysts believe the U.S. car market peaked at last year’s record 17.5 million units. But none is forecasting anything more than a mild decline over the next several years.
GM also affirms its goal of reaching margins of 9%-10% on its automotive operations worldwide in 5-6 years.
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