General Motors CEO Mary Barra and other top executives will be present at GM’s Milford Proving Ground to update the investors on the company’s financial progress later today.
Just two days after Ford released the “bomb” and lowered its forecast for the 2014 profit (it’s still positive, just much smaller than expected) on high recall costs in North America and general regional weakness across the globe, GM is ready to preview its progress for the rest of the year and 2015.
Besides the focus on numbers, analysts and reporters present at the presentations would also have the chance to test drive the automaker’s latest products and see the upcoming technology.
“We’d like to see a strong and detailed message around technology leadership and brand definition, particularly at Cadillac,” comments Citi analyst Itay Michaeli.
The US sales are having a great run this year, but GM – just like Ford – also has huge investments in Europe (Russia included) and South America – where all the previews say massive losses are to be expected.
The executives could face tough questions, as investors are expected to bring into discussion the ongoing recall costs – and particularly the uncapped fund set for the victims of GM’s late 2.6 million recall of vehicles equipped with flawed ignition switches.