GM said it expects full-year pre-tax profits in a range between $11-billion and $13-billion, up $500-million from a prior forecast
on Tuesday lifted its full-year profit and cash flow forecasts, citing stronger-than-expected demand and higher prices, even as pre-tax profits for the first quarter fell.
For the first quarter of 2023, GM reported adjusted pre-tax profit of $3.8-billion, or $2.21 a share, on revenue of $40-billion, down from pre-tax profit of $4-billion on revenue of $36-billion a year ago. “We feel really good about where we are priced right now, and consumers seem to be demanding our products,” he said.
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