Higher prices didn’t discourage consumers from spending on new cars via IrishTimesBiz
The first-quarter result beat the company's internal forecasts, Jacobson said. Savings from a drive to cut $2 billion from fixed costs by the end of 2024 “are flowing to the bottom line faster than we originally anticipated,” he said.Consumers willing to pay a rich price for a new vehicle gave GM a significant boost. Higher prices added nearly $1,800 a vehicle to GM's North American pretax profit, the company reported.
“We feel really good about where we are priced right now, and consumers seem to be demanding our products,” he said. Jacobson said GM is counting on launches of its new generation electric vehicles to help rebuild sales and profits in China.
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