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But again, you expect to earn low- to mid-single-digit EBIT-adjusted margins in the EV portfolio kind of from 2025, before the impacts of clean energy credits.
IRA tax credits, grants and loan guarantees won't hit the market until 2025. GM is shooting for the $24B, which is less than 10% of the total IRA subsidy package. According to the IRA documents and GM's own literature, the IRA is supposed to make EV's more affordable. The question is, affordable to whom? I have my doubts that the consuming public will want EV's that are less efficient and cost twice as much as an ICE car. Toyota is going to eat GM's lunch!
Transcript
2023 Q1
30 Apr 23
So the $1 billion of savings will begin to accrue savings really probably late second quarter and then really start to get into bulk in the second half of the year.
Q3 & Q4 are their best quarters, statistically speaking. Analysts are guiding GM EPS down for 2H; they are saying that 2023 will be a below average year for the company. These accrued savings might not show up as a positive, if at all.
Transcript
2023 Q1
28 Apr 23
We also saw a bit of an uptick in warranty costs.
I think that's probably a bit of an anomaly and won't repeat throughout the year across the board.
This is a whitewash. Rising warranty costs means quality issues with products. Generally, manufacturing defects are a small part of breakdowns. If these costs are rising, it would be interesting to find out what products are seeing the most.
Transcript
2023 Q1
28 Apr 23
All four of these small SUVs are beautifully designed, packed with technology and include a long list of standard active safety and driver assistance technologies, yet they all have starting MSRPs below $30,000, with the Trax starting below $25,000.
If they are going to compete these SUV's had better be more than beautiful. These bare-bones models will be more expensive than their competitors...who are marking down higher valued cars.
Transcript
2023 Q1
27 Apr 23
full year 2023 earnings guidance to a range of $11 billion to $13 billion.
This is an upward revision of between 4% and 5%. Q1 is statistically their second worst quarter each fiscal year, and it barely beat Q4 of last year. Either it was an extraordinary quarter, or Q4 last year was another double flusher.
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2023 Q1
27 Apr 23
10.9% EBIT-adjusted margins. In the U.S., we are the market leader in retail and fleet sales, including commercial sales. We earned the largest year-over-year increase in U.S. market share of any automaker, and we did it with strong production and inventory discipline as well as consistent pricing.
We delivered more than 20,000 EVs in the U.S. in the quarter, on the strength of record Bolt EV and EUV sales and rising Cadillac LYRIQ deliveries. This moves us up to the second market position and increased our EV market share by 800 basis points
Starting with % statistics and ending with basis points. This is intended to confuse, or is the result of confusion. 20k EV's is less than 5% of the world market...a gain of 800 basis points with such a small number of units means they are playing in the toybox while their competitors are making cars.
Transcript
2023 Q1
27 Apr 23
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