GM and Ford Forecast Big Profits and Brisk Sales in 2024
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General Motors (GM) and Ford executives have expressed optimism about the strong demand in the US auto market. GM Chief Financial Officer Paul Jacobson stated that auto sales in March were 'looking really strong' following a strong February. GM's incentives are decreasing, which is contributing to the positive sales trend. Ford Chief Financial Officer John Lawler reaffirmed the company's outlook for annual core profit of between $10 billion and $12 billion. Lawler also mentioned that Ford has a 'skunk works' team working on a new, low-cost electric vehicle (EV) architecture that could serve as the foundation for sedans, SUVs, and trucks. Ford's EV business is expected to eventually turn a profit and attract more long-term investment. GM shares rose 1.3%, while Ford's shares fell 2% in resp...
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