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GM Dec 2023 32.000 call
- Yahoo Finance Video
Why the Tesla Cybertruck has 'missed the moment'
Tesla's Cybertruck (TSLA) is set to launch Thursday afternoon at its Gigafactory in Austin, Texas. While some investors are hyped for the release, there are those who feel that this isn't the big moment the company and investors were hoping for. Andrew Hawkins, The Verge Transportation Editor and Tom Narayan, Lead Equity Analyst, Global Autos for RBC Capital Markets, join Yahoo Finance to discuss their thoughts on the launch and what it means for the company and investors alike. Narayan describes the vehicle as a "halo car," designed to lure shoppers that Tesla can sell its other vehicles to. Hawkins explains his feelings: "When it [the Cybertuck] was first announced in 2019, there were no electric trucks on the market at that time. So if Tesla had actually released the truck and started delivering it to customers soon after that event, they really could've captured this market but now we've seen there's the F150 Lightning (F), Rivian R1T (RIVN), there's a Hummer truck (GM), and there's more coming out... So I think there is an argument to be made that Tesla kind of missed the moment here." Click here to watch the full interview on the Yahoo Finance YouTube page or you can watch this full episode of Yahoo Finance Live here.
- Yahoo Finance Video
GM CEO Barra shrugs off competition from Tesla's Cybertruck
Tesla (TSLA) is set to unveil its long-awaited Cybertruck EV on Thursday, November 30. While many automakers integrate Tesla's charging technology, questions are rising about the competition with Tesla in the EV landscape. General Motors (GM) CEO Mary Barra sat down with Yahoo Finance Executive Editor Brian Sozzi and weighed in on EV competition, reassuring investors and consumers that GM has the competitive edge and how its portfolio of EVs leaves little to worry about. "When I look at our truck portfolio, and where we stand with trucks today, and the capability of those trucks and what customers really care about, I'm confident that we've got a winning strategy from a truck perspective in the EV market," Barra states. Click here to watch the full interview with GM CEO Mary Barra or you can watch this full episode of Yahoo Finance Live here.
- Reuters
GM sees EV cost cuts as it looks to profit from green vehicles -CFO
General Motors said on Thursday it expects significant reductions in electric vehicle production costs in 2024 as it boosts output of higher-profit models. GM Chief Financial Officer Paul Jacobson said at a Barclays event the automaker would see improvements next year in EV margins as it expects to hit mid single-digit earnings before interest and taxes margin targets by 2025. His comments came a day after GM took a series of steps to reassure investors, including announcing $10 billion in new share buybacks, a 33% dividend increase and "substantially lower" spending at its robotaxi unit Cruise.
