GM eyes operating profit up in 2015
GENERAL Motors Co has forecast its 2015 operating profit will increase from last year due mostly to growth in its two largest auto markets, China and the United States.
As it moves past a year marred by massive recalls from a defective ignition switch linked to at least 45 deaths, GM said modest growth in global vehicle sales this year would help the largest US automaker post improved results in all of its regions. It provided no specific figures.
GM also said it remained on track for 2016 targets, including 10 percent profit margins in North America and a return to profitability in Europe.
Last year, Mary Barra’s first as chief executive of the Detroit company, GM dealt with the recall of 2.6 million cars due to the faulty switch that led to numerous probes and lawsuits, as well as an overall increase in total recalls from other problems.
Barra called 2014 “a pivotal year” that GM wants to build on in 2015.
GM also affirmed its plan to achieve profit margins of 9 to 10 percent by early next decade, compared with a consolidated margin of 6.4 percent in last year’s third quarter, excluding the impact of recalls. GM plans to boost its capital spending plans this year by 20 percent to about US$9 billion. More than one-quarter of the vehicles GM sells next year will come from new and refreshed designs, rising to almost half in 2019.
GM sees global industry sales rising about 3 percent to 89 million vehicles this year, but heightened competition will allow only moderate increases in its vehicle pricing.
GM said its worldwide vehicle sales rose 2 percent in 2014 to 9.9 million cars and light trucks, beating the company’s previous record set in 2013.
- About Us
- |
- Terms of Use
- |
- RSS
- |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证:沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证:31120180004
- |
- 网络视听许可证:0909346
- |
- 广播电视节目制作许可证:沪字第354号
- |
- 增值电信业务经营许可证:沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.