GM earnings blast forecasts, but $200 million a week strike costs torpedo 2023 outlook

  • 📰 startelegram
  • ⏱ Reading Time:
  • 24 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 63%

Belgique Nouvelles Nouvelles

GM said the historic UAW strike action is costing it $200 million a week, forcing it to pull its 2023 profit forecasts despite better-than-expected third quarter earnings.

posted much stronger-than-expected fourth quarter earnings Tuesday, but pulled its full-year profit forecast amid surging costs related to the historic strike action launched last month by the United Autoworkers Union.

Strike costs in the third quarter were pegged at $200 million, General Motors said, but noted that tally has already risen to around $600 million in the quarter quarter to date, and would likely accelerate further, at a pace of $200 million per week, according to GM CFO Paul Jacobson. GM also scrapped its goal of making 400,000 electrified vehicles between 2022 and mid-2024, a target CEO Mary Barra was committed to as recently as July of this year.

 

Merci pour votre commentaire. Votre commentaire sera publié après examen.
Nous avons résumé cette actualité afin que vous puissiez la lire rapidement. Si l'actualité vous intéresse, vous pouvez lire le texte intégral ici. Lire la suite:

 /  🏆 248. in BE

Belgique Dernières Nouvelles, Belgique Actualités