GM expects EV profit by end of '24

Today General Motors announced our Q1 results. The team is executing well and making progress across the board. ?? We grew total company revenue by 8% year-over-year to $43?billion ?? Our Chevrolet, GMC and Cadillac dealers in the U.S. translated rising Ultium Platform production into a 21% year-over-year increase in retail deliveries for our EV portfolio ??S&P Global Mobility announced that GM has now had the highest loyalty of any OEM for nine consecutive years These are increasingly powerful competitive advantages. I want to thank the team for their hard work and the momentum we continue to build. Read more in my letter to shareholders: https://lnkd.in/d3sdayXn.

Curious whether your #car and LexisNexis have been #spying on you? Order your own Consumer Disclosure Report and find out: https://lnkd.in/eDexhk-k Despite not knowingly providing consent to General Motors to be tracked, the level of detail in NYT Reporter Kashmir Hill's report is alarming: 1,890.89 miles driven; 4,251 driving minutes; 170 hard-brake events; 24 rapid accelerations, and zero speeding events. All of these data points and more are then accessible by your insurance carrier who can use them in calculating your rates, without your consent or, as ????? Andrea Amico points out, any independent audit on accuracy.

General Motors' Q1 results, highlighting significant achievements. The company reported an 8% year-over-year increase in total revenue, reaching $43 billion. Additionally, there was a 21% increase in retail deliveries for the EV portfolio in the U.S., thanks to rising Ultium Platform production. Furthermore, GM has maintained the highest loyalty among all OEMs for nine consecutive years, according to S&P Global Mobility. ? Revenue growth signifies GM's strong market performance and financial health. ? Loyalty reflects GM's ability to retain customers, underscoring brand strength and customer satisfaction. ? Electric vehicle portfolio expansion indicates GM's commitment to sustainable transportation and innovation.

GM's Q1 numbers out today- I couldn't find any update on their buyback... So far GM's $10bn share buyback has certainly helped their share price. I would estimate that brokers have covered no more than 40% of the shares they are short (including those already delivered)... The program has been running for 100 trading days, out of a max total of 240.... virtually no trading days has the share price traded below the running average, so hard to see how the brokers would have had a chance to get ahead... GM's share price closed at $28.89 ($28.72 div adjusted) on Oct 11th, the day before they announced their $10bn buyback. The share buyback is being executed via ASR's- which in total delivered $6.8bn worth of shares up front (~235m), any residual shares owed will be delivered at the end of the ASR contracts. The calculation for the total number of shares delivered (including those delivered up front) will be based off the average share price over the length of the whole contract. By my very approx maths this average share price so far is $38.5 (unadjusted by any discount) If the ASR contracts were to stop today (they wont) and we use this unadjusted average share price then $10bn/ 38.5 = 260m will be the total shares the whole programme will have repurchased. So this means that the residual $3.2bn ($10bn - $6.8bn) would buy about 25m more shares Said differently the average price for these residual shares would cost GM about $128 a share. If the share price stays above this running average of $38.5, then residual number of shares to be delivered will keep dropping.. If this average settles above about $42.45 (before discounts) then GM starts to owe more money or has to reissue shares... Not so sure how good these ASR's are if you are a long term shareholder https://lnkd.in/eXbbWuW6

Interesting data about the health of the market today. General Motors reported strong Q1 earnings and will see what Tesla reports after the bell. The Detroit-based car company on Tuesday reported a 24% rise in first-quarter profit, driven by solid U.S. sales of pickup trucks, the company’s biggest moneymaker. Coming into the year, GM expected the strong pricing that has driven profit in recent years might wane a bit now that dealers have more cars to sell following?years of pandemic-era tight supplies. But car shoppers continue to spend, GM Chief Financial Officer?Paul Jacobson?said. Legacy Automotive Capital Benjamin Catanese TJ Doyle Austin Wolfington Eli Schultz Daniel Gold

The cutback at the Sterling Heights Assembly Plant near Detroit is the latest in a series of layoffs since UAW members ratified their contract with Stellantis.