General Motors Co on Tuesday reported a higher-than-expected quarterly profit, l...
DETROIT - General Motors Co on Tuesday reported a higher-than-expected quarterly profit, lifted by revaluations of shares it holds in ride-hailing company Lyft Inc and France’s Peugeot SA.
“We remain concerned with the U.S. auto cycle, both from a pricing and volume perspective,” Buckingham Research analyst Joseph Amaturo wrote in a client note. “Moreover, specific to GM, we are concerned about recently monthly pick-up truck and market share stats.” “From an economic standpoint, there are green shoots,” she said. “But we have yet to see that translate to vehicle demand.”In the United States, the automaker had around four months supply of its Chevrolet Silverado pickup truck on the ground as of the beginning of April, a high level in an auto market that overall is expected to decline in 2019.
GM said it is “bullish” on pickup truck sales for the rest of 2019 as more versions of its new Silverado hit dealer showrooms and its heavy-duty trucks launch in the second half of the year.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
GM first-quarter profit beats estimate, lifted by pickups, LyftGeneral Motors Co on Tuesday reported a higher-than-expected quarterly profit, d...
Read more »
GM beats on earnings as Lyft investment pays off and pickups drive profitsGM reported a higher-than-expected quarterly profit, driven mostly by highly lucrative pickup truck sales.
Read more »
How Do Uber And Lyft Compare In Terms Of Key Revenue And Valuation Metrics?Ride sharing behemoth Uber recent filed its S-1 as it looks to go public, following rival Lyft which listed in March. In this analysis, we compare Uber and Lyft’s key operating and financial metrics (for 2018).
Read more »
Zoom tops Lyft as the most valuable tech IPO of the year so farZoom rallied 72% in its first day of trading on Thursday and has continued to rise.
Read more »
Uber, Lyft, Pinterest, And Zoom: SEC Filings Reveal Trends In Private Company Stock Grant DesignWhen you work for a fast-growing private company that's likely to go public or get acquired, you often take the job with the idea that you’ll get sizeable stock grants and perhaps life-changing wealth. How do these grants work? Let's look at registration statements of IPO or soon-to-be-IPO firms.
Read more »
Russia's Yandex says it's learning lessons from Lyft for its own ride-hailing IPORussian tech giant Yandex is still planning an initial public offering for its ride-hailing business, and it's not been deterred by Lyft's struggling stock, according to a top exec.
Read more »
Lyft sinks to new low after Uber files to go publicLyft shares touched a record low on Friday morning after its ride-hailing rival Uber filed to go public.
Read more »
Lyft is widening its health stance with grocery ridesLyft is expanding its program that offers seniors and low-income families discounted rides to grocery stores:
Read more »
GM adds 400 jobs in Kentucky to help build a radical new CorvetteGeneral Motors is planning to build a wild new version of the Corvette — and it plans to hire hundreds of new workers to get the job done.
Read more »