DETROIT - General Motors continued to defy Wall Street's expectations this year, posting third-quarter results ahead of analyst projections on the back of steady gasoline-engine truck and SUV sales and a focus on keeping inventories lean.
CEO Mary Barra has been focusing on a message of stability, saying earlier this month that the automaker's profit next year is expected to look similar to this year, a relief for investors who are worried about a potential decline in the auto industry's earnings. GM has said pricing could be softer next year but it expects results to be supported by costs cuts on SUVs and EVs and improvement in China.
GM's stock is up 36% year-to-date, outpacing rivals Stellantis and Ford Motor, whose shares have both decreased over the same period. Ford has struggled with costly quality problems and Stellantis with decreasing sales and revenue in North America after it raised prices and held back on incentives. In a world-first, a team of experts has measured the humanity of a population with the launch of the Canadian Humanity Index. This study provides fresh insight on how Canadians perceive their society's role in shaping the overall well-being of humanity. The results show that the perception Canadians have on their own humanity is low, at just 61.3 out of 100, revealing concerns about social inequalities, a decline in institutional trust, and a weakening of fundamental human values.
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