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Home / Business / GM says 2018 earnings exceeded expectations and 2019 looks even better

GM says 2018 earnings exceeded expectations and 2019 looks even better



The CEO of General Motors, Mary Barra, said that the earnings for the entire 2018 year of the automotive industry exceeded previous expectations and that 2019 looks even better, citing strong sales in China and high demand for its trucks and commercial vehicles in the United States

8 between $ 5.80 and $ 6.20 per share and a cash flow from the auto sector adjusted $ 4 billion. Now he expects to exceed those projections and has painted an even better picture of 2019, said Barra.

Expected Adjusted Adjusted Income from $ 6.50 to $ 7 and recorded a free cash flow from $ 4.5 billion to $ 6 billion for 2019. [19659003] GM shares increased 6% in premarital business in the news.

Barra also said that GM strengthened its belt last year, adding that tightening cost controls helped increase earnings. He announced several plant closures and 14,000 job cuts in November. The reorganization is estimated to save about $ 6 billion by the end of 2020, with about half of those that have been saved by the end of 2019.

GM plans to expand its overseas footprint with a global family of vehicles which will be launched in China this year, Barra told reporters in a conference call. He said that GM has 20 new or updated products coming out in China.

"When you step back and look at China, we've been there for 20 years, we've had tremendous success, we have very strong brands," said LeBeau. "We believe that the current trade negotiations are very constructive at the moment, the fact that they have extended this round to have even more discussions, the next is already scheduled, we know that the stimulus of durable goods in the country that we think will apply to automobiles. "

Cadillac will become the company's flagship electric vehicle brand, he said. Worldwide, they project just over 17 million total vehicle sales in the United States in 2019 and 27 million in China – approximately flat since 2018. He said annual car sales in China will increase to 30 million.


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