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BRIEF-GM CEO Expect To See Run Rate Savings Of A Billion Dollars On Annualized Basis By Ending Cruise Robotaxi Development-- Conf. Call

ReutersJan 28, 2025 2:36 PM

- General Motors Co GM.N:

  • GM CEO: EXPECT TO SEE RUN RATE SAVINGS OF A BILLION DOLLARS ON ANNUALIZED BASIS BY ENDING CRUISE ROBOTAXI DEVELOPMENT-- CONF. CALL

  • GM CEO: WITHIN FIVE YEARS WE EXPECT TO APPROACH ABOUT $2 BILLION IN TOTAL ANNUAL REVENUE FROM SUPER CRUISE

  • GM CEO: CHINA JOINT VENTURE PLANS TO REDUCE CAPACITY TO OPERATE WITHIN UTILIZATION LEVELS OF ABOUT 80% OR BETTER

  • GM CEO: WE BELIEVE PRESIDENT TRUMP WANTS TO HELP DOMESTIC MANUFACTURERS WITH POLICY AND REGULATIONS

  • GM CFO: REPURCHASED 87 MILLION SHARES IN THE OPEN MARKET DURING THE QUARTER AT AN AVERAGE PRICE OF $53.84

  • GM CFO: WE FACE A SLIGHT HEADWIND FROM FULL-SIZE TRUCK INCENTIVES

  • GM CFO: CRUISE EMPLOYEES WILL BE FULLY INTEGRATED INTO CO BY MID-YEAR

Further company coverage: GM.N

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