General Motors Company (GM) is expecting a modest gain in 2014
General Motors Company (NYSE:GM) has provided their profit outlook and new GM CEO Mary Barra started at the company this week. GM is expecting to gain “modest” U.S. market share at the retail level in 2014 and continue to demand strong prices.
GM market share was pretty flat last year at 17.9%. Their retail share grew as sales to individual buyers increased at a faster pace than the market for the Chevrolet, GMC, Cadillac, and Buick brands.
“The momentum is going to continue” stated newly appointed GM CFO Chuck Stevens. Stevens replaced Dan Ammann, who is now GM president. Barra succeeded outgoing CEO Dan Akerson.
GM is expecting U.S. light vehicle sales to hit around 16-16.5 million light vehicles in 2014, which would be a 3-6% increase from 15.6 million last year.
GM launched 18 new cars and trucks in 2013 and will be launching another 13 this year. This spring, GM is launching the new Chevy Tahoe, Suburban, GMC Yukon, GMC Yukon XL, Cadillac Escalade, Colorado, and Canyon.
[Source: AutoNews]This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry