Ford and General Motors enter a new phase of uncertainty on prices and demand
Publishing timestamp: 2023-01-30 14:46:38
Summary
This week, Ford and General Motors will report their fourth-quarter earnings and 2023 guidance. Automakers have reported record results in recent years due to tight supply of new vehicles and resilient consumer demand. Ford recently cut prices on its electric Mustang Mach-E, and GM is expected to report a 25% increase in earnings per share. Wall Street is watching for signs of weakening consumer demand and tougher pricing landscape, which could lead to lower profits this year. GM and Ford have said they will continue to invest in EVs regardless of macroeconomic factors.
Sentiment: NEUTRAL
Keywords: autos, general motors co, transportation, business news, detroit, breaking news: business, mary barra, electric vehicles, tesla inc, business, earnings, ford motor co,
Source: https://www.cnbc.com/2023/01/30/ford-general-motors-earnings-prices.html