Posted on 01/30/2024 8:16:54 AM PST by Miami Rebel
Don’t look now, but General Motors shares have taken off. Fourth-quarter earnings and guidance for 2024 should help extend recent gains.
GM reported Tuesday a fourth-quarter operating profit of $1.8 billion and earnings per share of $1.24 on sales of about $43 billion. Wall Street was looking for about $1.9 billion in operating profit and earnings per share of $1.16 on sales of just under $40 billion, according to Bloomberg.
(Excerpt) Read more at barrons.com ...
People buying ICE cars before they can’t and spending cash while it still has some value....................
At $50,000+ per auto why wouldn’t stock soar
Just like Ford did 2 years ago then it went back down again.
GM? If I wanted a car why would I buy a brand barely better than Yugo? I think even Dodge has better vehicles now. It’s close though.
It is Government Bailout Motors.
Heads they win, tails we lose.
The Equinox starts at $35k, but the average is probably around $50k.
Yes, it’s weird given Ford’s experience.
That said, my wife has the Mach-E (in bright orange) and I must say as a longtime stick-shift BMW driver that it’s a blast. We live in South Florida so the cold weather issues with EVS don’t affect us, and an additional factor in living in South Florida is that it’s not exactly grand touring territory: the most we have used it for is to traverse Miami to Palm Beach and Miami to Naples, so distance constraints are a non-issue.
Plunge Protection Team working for Government Motors.
Wall street pumping it up as much as possible before they dump it. GM EVs going to be a huge loser.
Doesn’t the AC unit suck the life out of that battery?
“ Doesn’t the AC unit suck the life out of that battery?”
And the heater, and the range is not what was promised on any of them.
If you’re ok with flammable combustion going on in your garage by one two or three!
She drives the single engine (again, no need for the double engine since we don’t anticipate lengthy drives.) She’s been getting 230+ miles between charges, which is in line with the estimated mileage, and of course down here the AC is running 99% of the time.
There is no Hamas State.
No country wants Palestinians.
Details. These companies get subsidies for building EV cars. Just for building them, not selling them.
A great % of these financial reports come from those govt revenues.
As long as you have a ICE engine to get out of the path of a hurricane, that is probably an acceptable tradeoff.
As of right now, it’s only up $2.54/share. Probably time to sell.
Good for her! That’s better than 85% of other people with EVs.
GM’s fourth-quarter net income rose 5%, to $2.1 billion, largely because of some one-time expenses that hurt profitability a year earlier. Its operating income, however, fell 54% over the prior-year period, hurt primarily by a six-week factory strike and losses stemming from its budding electric-vehicle business.
https://www.wsj.com/business/earnings/general-motors-gm-q4-earnings-report-2023-65bcd7be
They didn’t gain a thing, they just didn’t lose quite as much. And their EV sales tanked anyway.
wy69
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