Mexican Media Brands
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.
#economics
Share
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.
RELATED CONTENT
-
Ford’s $42 Billion Cash Cow
F-Series pickups generate about 30% of the carmaker’s revenue. The tally is about twice as much as what McDonald’s pulls in.
-
Enterprise Edges into Self-Driving Car Market
U.S. rental car giant Enterprise Holdings Inc. is the latest company to venture into the world of self-driving vehicles.
-
Mazda, CARB and PSA North America: Car Talk
The Center for Automotive Research (CAR) Management Briefing Seminars, an annual event, was held last week in Traverse City, Michigan.