GM has decided to push its Investor Day presentation back several months rather than holding the event on November 16th, 2023 as originally planned.
Instead, GM Investor Day will be held in March 2024, with the exact date yet to be announced.
The reason for the scheduling change was provided by The General’s chief financial officer Paul Jacobson during the recent Q3 2023 earnings conference call. Jacobson said “the decision to push out Investor Day was really… we’ve got a lot of good strategic data points to put out there. We want to make sure that it wasn’t something that was dominated by the UAW.”
After explaining why November was considered unsuitable while union strikes and negotiations are under way, Jacobson added that “so, you know, when the weather gets a little bit warmer in Charlotte in March, we’ll have that Investor Day.”
GM executives gave considerable detail about the material that will be covered during the upcoming Investor Day during the same earnings conference call. Jacobson noted that the presentation will include a roadmap of how the automaker’s EV sales will achieve single-digit profit margins by 2025 rather than continuing to generate losses as the company’s electric models are currently doing.
Jacobson said the EV losses are “just relatively nonsensical mainly because we’ve got a big scaled infrastructure with limited production across the board.” Other topics to be covered during the GM investor day include the company’s profit-generating ICE vehicles, its autonomous vehicles (AVs), and its plans for software development.
CEO Mary Barra also referred to Investor Day, saying she would demonstration “the simplification that we can do to the vehicles that makes them easier to build.” She also indicated she would provide new details about the continuing development of the Ultium platform.
Meanwhile, contract talks with the UAW that prompted the rescheduling appear to be finally making some progress. After more than 40 days of talks and strikes, the UAW has reached a possible deal with Ford and made a new offer to GM while pausing its strikes at Ford plants in an effort to pressure The General and Stellantis into accepting its terms.