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

GM says earnings in 2018 exceeded expectations, and 2019 looks even better



General Motors' CEO Mary Barra said the 2018 automaker's full-year results exceeded its previous expectations, and 2019 looks even better, reflecting strong sales in China and high demand for trucks and commercial vehicles in China United States

8 to be between $ 5.80 and $ 6.20 per share and adjusted free cash flow of $ 4 billion. Barra announced on Friday to exceed these forecasts and draw an even better picture of 2019.

It predicted diluted earnings per share of $ 6.50 to $ 7 for 2019 and adjusted free cash flow of $ 4.5 to $ 6 billion. 19659003] The GM shares rose in the Vormarkthandel in the news by 6 per cent.

Barra also said GM tightened its belt last year and added stringent cost controls to boost profits. It announced several plant closures and 14,000 job cuts in November. The restructuring is expected to save about $ 6 billion by the end of 2020, with half of these cost savings expected by the end of 2019.

GM plans to expand its presence abroad with a global family Of vehicles to be launched in China this year, Barra told reporters on a conference call. She said GM has released 20 new or updated products in China.

"If you take a step back and look at China, we've been there for 20 years, we've had tremendous success, we've got very strong brands," she said LeBeau. "We think that the trade talks that are being conducted are very constructive, and the fact that they have expanded this round to have more discussion is the next one already planned, and we know there are discussions in our countries about durable goods out there will apply to cars. "

Cadillac becomes the company's leading brand for electric vehicles, it said. In total, more than 17 million US vehicle sales and 27 million will be sold in China in 2019 – almost unchanged from 2018. The annual car sales in China will eventually rise to 30 million.


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