CLAIM #27972 · General Motors Company (GM) · 2024Q1 earnings call · Apr 23, 2024 · due Dec 31, 2024
“generally, seasonality, we expect to be very similar with Q1 and Q4 being slightly lower than Q2 and Q3.”
Paul Jacobson · CFO
In context
“quite well. Operator: Thank you. Our next question comes from Chris McNally with Evercore. Your line is open. Christopher McNally: Thanks so much team. Just wanted to dive into some of the questions on seasonality following on to some of Mark's questions prior. Paul, could you talk about the seasonality in wholesale? I think you've talked about full year being up sort of mid-single-digits, which would imply somewhere in the low to mid-800,000 range for the rest of the year. But if you could just help us with just a little bit of the cadence, given some of the downtime you mentioned in Q2. Paul Jacobson: Yes. There was probably a little bit of pull forward from Q1 to Q2, particularly with the trucks as we prep for that downtime and that retooling that's going to happen for a few weeks. But generally, seasonality, we expect to be very similar with Q1 and Q4 being slightly lower than Q2 and Q3. So nothing has dramatically changed. But around the edges, maybe a little bit of pull forward from Q2 into Q1. So as we look at the second half, I just want to caution that we've got to continue to be guided by the assumption that's in there on pricing, which obviously has a bigger second half impact, given the performance that we've already booked in Q1 and certainly where April is looking right now. And then with the EV volume ratcheting up in the back half, that's where we see a little bit of front half loading in the guidance that we've provided. Christopher McNally: Perfect. All makes sense. And then maybe just on the actual production side, should we think of sort of truck T1 production as maybe at a tight end in Q1? Do we get back to this level in Q4, just looking at the overall yi”
Verify independently
SEC filings for GM ↗ · Claim quote is verbatim from the 2024Q1 earnings call.