CLAIM #28042 · General Motors Company (GM) · 2024Q3 earnings call · Oct 22, 2024 · due Mar 31, 2025
“Yes. Yes, it should. As we come out with the new full-size SUV refreshes, hopefully later this year, early next year.”
Paul Jacobson · CFO
In context
“eases from last year, but it's something that we've tried to hold on to. I think our incentive behavior in the market has been very disciplined from the perspective of doing what is important for our products and our customers. And in fact, that gap to the industry average has been widening even beyond the 100 basis points that we've talked about historically, nearly doubling that in the September quarter. And I think a lot of that has to do with our disciplined approach to inventory as well. So we're going to continue to do that. But like I said, really proud of the products and what's out there, and we're seeing that in the demand for our vehicles. Dan Levy: And can you just remind us, as far as the SUV refreshes next year that comes typically with the price increase? Or… Paul Jacobson: Yes. Yes, it should. As we come out with the new full-size SUV refreshes, hopefully later this year, early next year. So more to come on that, and we think that momentum is going to continue with these great products. Dan Levy: Okay. Thank you. Second question is on cash and the free cash flow, just two-part question. One is on the free cash, maybe you can explain the midpoint of the free cash guide was raised by $3 billion even though EBIT was raised by funds, maybe color on that. And then also, your cash now is $27 billion on the balance sheet. You've talked about a $20 billion target. Maybe you can just give us a sense of how you're thinking about the cash position on the balance sheet. If $20 billion is the target or is that more of a minimum level that we should think of? Paul Jacobson: Yes. So Dan, on the free cash flow, what – when you look at the earnings trajectory this year, and now we're just”
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SEC filings for GM ↗ · Claim quote is verbatim from the 2024Q3 earnings call.