“We’ll have more utilities,” Shanks said. “We will be simplifying, if you will, our participation in the car segments to move into sub-segments that have more margin and are more attractive.”
GM surprised Wall Street earlier Tuesday by predicting steady profit this year to be followed by another earnings jump in 2019. A redesigned Chevrolet Silverado pickup and fresh crop of crossovers are helping fund CEO Mary Barra’s ambitious plans to put robotaxis on the road in a ride-sharing fleet next year and roll out 20 all-electric models by 2023.
Ford also announced it will start being more transparent about its own bets on mobility. Within the slides Shanks presented, the company disclosed it lost about $300 million in this business last year.
This article was provided by Bloomberg News.