“We expect to see a run rate savings of about $1 billion on an annualized basis by ending robotaxi development, and we look forward to acquiring the small number of Cruise shares we don't own and finalizing the restructuring plan later this quarter.”

In context

“the businesses, launching new products, reducing dealer inventory and building to demand. We are making good progress and reported positive equity income for the fourth quarter before restructuring costs. To improve year-over-year results and make SGM sustainably profitable, they will be implementing a wide range of restructuring initiatives this year that include reducing capacity to operate within utilization levels of about 80% or better. We are in the process of finalizing details with our partner. Importantly, we believe SGM has the resources to complete its restructuring without additional capital from GM. As you know, we also stopped funding robotaxi development at Cruise. We have a proposed restructuring plan that will refocus our autonomous driving strategy on personal vehicles. We expect to see a run rate savings of about $1 billion on an annualized basis by ending robotaxi development, and we look forward to acquiring the small number of Cruise shares we don't own and finalizing the restructuring plan later this quarter. The momentum we have in both ICE vehicles and EVs will drive our results once again in 2025. For example, the redesigned Chevrolet and GMC full-size SUVs that we launched late last year are supporting even stronger ATPs than the outgoing models, thanks to their refined exteriors, all new interiors and new models like our GMC Yukon AT4 Ultimate. We also have a full year of our new compact and midsize ICE SUVs, which include some of our highest volume nameplates like the Chevrolet Equinox, Chevrolet Traverse and GMC Acadia. They are great examples of our strategy to pair bold designs to drive higher ATPs with discipline and capital efficiency to drive better profitability. As Mark shared at Investor Day, we're seeing EBIT improvements in the 10 percentage point range on some of these vehicl”