CLAIM #27962 · General Motors Company (GM) · 2024Q1 earnings call · Apr 23, 2024 · due Dec 31, 2024
“we should expect to see that consistently growing throughout the year.”
Paul Jacobson · CFO
In context
“e things that we've done that allows us to continue to be strong with pricing and with our products. And as it relates to overall wholesale growth, I don't know, Paul, if you want to talk about that from an EV perspective. Paul Jacobson: Yes. So on the EV growth, obviously, supply is going to increase throughout the year as we ramp up to the 200,000 to 300,000 units of production that we've talked about. Spring Hill is coming online in -- came online in Q1 and we're ramping up production pretty steadily and that's Ultium Cell plant too. And as module production kicks up, we see an exit rate that's significantly greater. Now of course, we're all going to be paced -- we're going to be paced by where the consumer is from that standpoint. Early indications are that the ramp is going well, and we should expect to see that consistently growing throughout the year. James Picariello: Got it. And then just to hit on the quarter's China JV losses. Is the expectation to see profitability the remainder of the year or could this take another quarter or two? And then for GMI consolidated, can you just shed any light on the profitability actions that are taking place in South America? Thanks. Paul Jacobson: Yes, sure. So as China -- I think it's progressing as we articulated at the initial guidance range. We did trend slightly better than what we expected, but we foreshadowed the loss in Q1. We do expect that to reverse and be profitable for the rest of the year. And we said results that were similar to slightly down from last year in China. So the rest of the year is we'll have to manage it. But like I said, Q1 was a little bit ahead of expectations, but g”
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SEC filings for GM ↗ · Claim quote is verbatim from the 2024Q1 earnings call.