After Ford’s surprise withdrawal from the passenger car market, GM’s CEO Mary Barra reassured analysts that her company still intended to sell the cars both domestically and abroad. This, after much buzz about the decline of this market in the US, is no doubt reassuring following such surprising news. GM also announced it was getting ready to launch a new program internationally to replace “legacy architectures with profitable architectures.” General Motors (GM) affirmed a role for passenger cars in its lineup at home and abroad following a first-quarter earnings beat Thursday, a day after rival Ford Motor (F) topped views and outlined plans to largely exit that segment domestically. In a call with analysts, GM CEO Mary Barra described passenger cars as a "still significant" segment for now, even as consumers in the U.S. migrate in droves to SUVs, crossovers and light trucks. And small cars are important to GM internationally. GM is gearing to launch its Global Emerging Markets, or GEM, program, which will be "replacing legacy architectures with profitable architectures" in passenger cars sold around the world, CFO Chuck Stevens said on the call. Click Here to Continue Reading
GM Reaffirms Passenger Car Lineup A Day After Ford Leaves That Market was originally seen on www.autonews.cardaddy.com
source https://autonews.cardaddy.com/gm-reaffirms-passenger-car-lineup-a-day-after-ford-leaves-that-market/
No comments:
Post a Comment