But on Tuesday, GM signaled it's prepared for things to get worse. "We have also modeled many downturn scenarios and we are prepared to take deliberate action when and if necessary," Barra wrote in the letter to shareholders.
https://www.investors.com/news/gm-stock-gm-earnings-q2-2022/?src=A00220
Retired now, but for whole career, I can remember All People Meetings when they talked about quarterly results. If the results were bad, they would always say, “we have some great products coming out soon, then results will be great.”
Every time, same message.
Earnings tank 42%!
Increase EBIT now!
Lied again. Fire all of people who implemented 2019 layoff is only way to save GM!!!
What's "deliberate action"? Layoff?
@ihl+1hVewS8I Dang man whatever happened to tagging a PEP car. Back in the day there was an entire economy based on buying and selling GM cars that had a few thousand miles on them.
As GM mentioned yesterday their average new vehicle transaction price was $51k+. Don't know about you but with more incoming interest rate hikes I'm really forward to purchasing a new vehicle with $800+ / month payments. Not!
Well Ford is going to recall more cr-p vehicles. The Mustang is hot it can literally catch on fire.
Why do they expect a sharp recovery?
What do they think is going to change in a few months?
The Fed to announce another interest rate hike on Wednesday, the Q2 GDP numbers due on Thursday (indicating YES or NO- are we in a recession?? (We’re in a recession… for the past 2 months!!)