- Execs with General Motors (GM +0.7%) took a victory lap on the earnings call after the company topped profit estimates and also talked up the next-gen initiatives that are revving up in Detroit.
- GM says it was the first automaker to mass produce 130 autonomous EVs in a month and noted the expansion of Maven to New York.
- On the financial front, CFO Chuck Stevens said GM is on track to hit full-year EPS guidance of $6.00 to $6.50 and its cost efficiencies target of $6.5B through 2018. The backed guidance arrives even with GM adding 273K units in vehicle inventory in Q2 compared to a year ago.
- Previously: General Motors beats by $0.20, misses on revenue (July 25)
- Previously: Profit-focused GM rallies after earnings (July 25)