Breitbart Business Digest: The Gas-Guzzling Secret of GM’s Success

It turns out that this is not just advice for summoning ghosts to a cornfield ballpark but also applies to auto manufacturers hoping car buyers will keep showing up at dealer lots.on Tuesday reported a 24 percent rise in first-quarter profit to nearly $3 billion. Earnings per share hit $2.62, far above the consensus forecast of $2.12.

GMC pickup trucks are shown on the assembly line at the General Motors Flint Assembly Plant in Flint, Michigan, on January 24, 2011. President Joe Biden watches an electric vehicle charger demonstration at the White House in Washington on Nov. 2, 2022. . The U.S. has a well-functioning system of fuel stations for gas-powered vehicles that is unlikely to be matched for electric vehicles for decades, particularly given the inflation-driven increase in the prices to build out EV infrastructure. The extremely low resale or trade-in values for electric cars is a big problem, especially in an era of higher interest rates.

Unused charging stations for General Motors’ Buick Velite electric vehicle stand outside the company’s dealership in Shanghai, China, on July 17, 2019. There’s an important macro-economic lesson in GM’s first quarter performance. The company ended last year with the expectation that strong profits of the past few years would wane as supply came on line and consumers buckled under the weight of higher interest rates.

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Breitbart Business Digest: The Economic Consequences of the Baltimore CatastropheSource of breaking news and analysis, insightful commentary and original reporting, curated and written specifically for the new generation of independent and conservative thinkers.
Source: BreitbartNews - 🏆 610. / 51 Read more »

Breitbart Business Digest: Trump’s Truth Social Rockets to the MoonSource of breaking news and analysis, insightful commentary and original reporting, curated and written specifically for the new generation of independent and conservative thinkers.
Source: BreitbartNews - 🏆 610. / 51 Read more »

Breitbart Business Digest: Trump Trial Isn’t Distracting Americans from the Ravages of BidenomicsSource of breaking news and analysis, insightful commentary and original reporting, curated and written specifically for the new generation of independent and conservative thinkers.
Source: BreitbartNews - 🏆 610. / 51 Read more »

Breitbart Business Digest: Good News Is Bad News in Biden’s EconomySource of breaking news and analysis, insightful commentary and original reporting, curated and written specifically for the new generation of independent and conservative thinkers.
Source: BreitbartNews - 🏆 610. / 51 Read more »

Breitbart Business Digest: Beige Book Provides Gloomy Outlook for U.S. EconomySource of breaking news and analysis, insightful commentary and original reporting, curated and written specifically for the new generation of independent and conservative thinkers.
Source: BreitbartNews - 🏆 610. / 51 Read more »

Breitbart Business Digest: Powell Speaks and States the Obvious—No Rate Cuts Are ComingSource of breaking news and analysis, insightful commentary and original reporting, curated and written specifically for the new generation of independent and conservative thinkers.
Source: BreitbartNews - 🏆 610. / 51 Read more »