Earlier this month, the company reported that its U.S. deliveries rose 18.8% to 691,978, its best result since the fourth quarter of 2022. This comes after General Motors beat its Q1 top and bottom-line revenue expectations, subsequently raising its 2023 full-year outlook as a result.

For Q2, Wall Street analysts are expecting GM to report a top-line revenue of $42.82 billion; a 19.8% increase from the previous year and a 7% rise from the previous quarter. The company is expected to report adjusted earnings per share (EPS) of $1.65 and adjusted net income of $2.52 billion; the latter figure being a 51.2% surge from the previous year.

Aside from its earnings, the company’s EV game plan is also in the spotlight. Previously, GM confirmed that it is aiming to build 50,000 EVs in North America during the first half of the year, doubling that figure in the second half.

The post Investors Await GM Earnings Results, Status on EV Game Plan appeared first on theprimarymarket.com.

According to Jacobson, the demand for the company’s electric cars remains “firm,” and the company intends to ramp up the production through this year in order to keep up. General Motors intends to produce 50,000 units in the first two quarters of 2023, meaning that the full-year production should come to 150,000 units if everything goes as planned. 

The company also revealed that it intends to halt the production of some of its popular EV models Chevrolet Bolt by the end of the year. Despite being GM’s best-seller in the EV department due to its affordable price, Bolt will be axed because of outdated battery cells. Equinox EV model, which is slated to roll out in the fall, is expected to take its place.

General Motors’ first-quarter earnings report on Tuesday beat the analysts’ estimates. The company had revenue of $39.98 billion versus an estimated $39.24 billion, while its diluted earnings per share came at $2.21 compared to the expected mark of $1.72 per share.

GM stock dropped to $32.91 per share on Tuesday compared to the close price of $34.28 the day prior. The company’s shares are 2.69% down year-to-date.

The post General Motors Plans to Double Its EV Production in the Second Half of 2023 appeared first on theprimarymarket.com.

Earlier this month, the company reported that its U.S. deliveries rose 18.8% to 691,978, its best result since the fourth quarter of 2022. This comes after General Motors beat its Q1 top and bottom-line revenue expectations, subsequently raising its 2023 full-year outlook as a result.

For Q2, Wall Street analysts are expecting GM to report a top-line revenue of $42.82 billion; a 19.8% increase from the previous year and a 7% rise from the previous quarter. The company is expected to report adjusted earnings per share (EPS) of $1.65 and adjusted net income of $2.52 billion; the latter figure being a 51.2% surge from the previous year.

Aside from its earnings, the company’s EV game plan is also in the spotlight. Previously, GM confirmed that it is aiming to build 50,000 EVs in North America during the first half of the year, doubling that figure in the second half.

The post Investors Await GM Earnings Results, Status on EV Game Plan appeared first on theprimarymarket.com.

According to Jacobson, the demand for the company’s electric cars remains “firm,” and the company intends to ramp up the production through this year in order to keep up. General Motors intends to produce 50,000 units in the first two quarters of 2023, meaning that the full-year production should come to 150,000 units if everything goes as planned. 

The company also revealed that it intends to halt the production of some of its popular EV models Chevrolet Bolt by the end of the year. Despite being GM’s best-seller in the EV department due to its affordable price, Bolt will be axed because of outdated battery cells. Equinox EV model, which is slated to roll out in the fall, is expected to take its place.

General Motors’ first-quarter earnings report on Tuesday beat the analysts’ estimates. The company had revenue of $39.98 billion versus an estimated $39.24 billion, while its diluted earnings per share came at $2.21 compared to the expected mark of $1.72 per share.

GM stock dropped to $32.91 per share on Tuesday compared to the close price of $34.28 the day prior. The company’s shares are 2.69% down year-to-date.

The post General Motors Plans to Double Its EV Production in the Second Half of 2023 appeared first on theprimarymarket.com.