General Motors posted its 2017 quarter three earnings yesterday, and despite an overall earnings loss, all of its divisions posted in the black for the first time since Q4 of 2014. Following the earnings report, GM executives spoke of future product plans and the focus is clear: trucks, SUVs, and more trucks
GM CFO Chuck Stevens told investors on a conference call it will continue to retool its product mix to include more utility vehicles, according to CNBC. He added GM will “continue to take actions” as passenger car sales fall in North America. Truck production will increase in Q4 of this year as well.
Adding to his comments, CEO Mary Barra said the automaker will introduce a wider range of trucks next year, likely referencing the 2019 Chevrolet Silverado and 2019 GMC Sierra. She said the truck range will include more features, and some will focus on off-road capability. We also know new Silverado variants are in the pipeline: a 4500 and 5500.
GM’s discipline has also helped regain control over high inventory levels. The automaker ended September with a 76-day supply of vehicles, though it aims for a 70-day supply by the end of this year. GM retained over a 100-day supply of new cars through much of the summer.