Tariffs, wars, spiking fuel costs, and no more tax incentives for EVs. The world is a dynamic mess for automakers. For GM, the way forward rides on two important pillars: full-size trucks and digital services such as Super Cruise.
That was the message from GM Chairman and CEO Mary Barra in releasing first-quarter earnings that saw net income fell 5.7 percent to $2.63 billion in the first quarter while adjusted earnings before interest and taxes increased by 2 percent to $4.25 billion, fueled by an 11 percent increase in profits from its North American operations, which earned $3.67 billion.
The most profitable: big trucks and SUVs. The next generation of GM’s full-size pickups coming later this year will continue to be vital. GM has 42 percent of this market in the U.S and the trucks are key to GM’s target of 8-10 percent profit margin in North America.
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