The GM Investor Day presentation, which is used to reveal details of the automaker’s strategy and the programs and initiatives it currently has in development, has been pushed back yet again, this time to an unspecified date past the first quarter of 2024.
CEO Mary Barra explained the decision by saying “I would like to share some thoughts about our next Investor Day. Because of the significant changes that are under way at GM and Cruise, we think it makes sense to wait until later in the year to host an event.”
Barra’s remarks, which came during The General’s Q4 2023 earnings presentation, addressed various topics that had been named earlier as planned elements of the Investor Day event. She pointed out “we’ve already provided a roadmap for EV profitability in 2025,” indicating that one of the presentation’s planned subjects has already been covered.
Another significant matter, the fate of GM’s autonomous vehicle and robotaxi subsidiary Cruise, will also be discussed separately from Investor Day according to Barra. She said “we’ll share updates on Cruise as we finalize the technology and relaunch plans.”
With these topics now slated to be dealt with independently from the main event, Mary Barra also provided a description of what Investor Day will cover. She said that postponing the presentation until later in the year “will give our software team the time to focus on software for our upcoming launches, and we will be able to share more tangible proof points on all four pillars of our strategy, ICE, EV, AV, and software.”
She added that “when we do get together, we will show you what we’ve done, not just tell you what we’re going to do,” suggesting that the event may potentially include the unveiling of new technology and potentially even new vehicle models.
As a reminder, the Investor Day presentation was originally scheduled for November 16th, 2023. However, GM reached the decision to delay it by several months because of the UAW Stand Up Strike during the summer and autumn of 2023. CFO Paul Jacobson said in regard to the event that the company wanted “to make sure that it wasn’t something that was dominated by the UAW.”
Accordingly, “when the weather gets a little bit warmer in Charlotte in March, we’ll have that Investor Day,” Jacobson added. This rescheduling to March 2024 has now been superseded by the latest announcement.
Subscribe to GM Authority for more GM strategy news, GM business news, and around-the-clock GM news coverage.
Comments
Postpone all of the bad news as long as possible!
I’d hate to be in Mary Barra’s shoes. All of these pie-in-the-sky advertisements for electric autonomous vehicles, and yet in the real world they struggle to produce CUVs with good gas mileage. They pushed too hard to reinvent themselves too quickly. There’s one GM for investors and another GM for consumers. If they don’t bridge the gap quickly, neither audience will be happy.
Cruise and Brightdrop will NEVER amount to anything positive. Dealers are becoming impatient with EV’s. Don’t look for them to load up on Silverado and Equinox EV’s. In fact, you may see dealers refusing them. It’s starting to happen now with the Blazer EV. Enough is enough. All investment with no return doesn’t work in any business. Mary is fast approaching the end of reign of terror.
Gotta figure out how to spin the EV write down and hybrid fumble – that’s a 5 year development and market gap on her resume
Time to invest in a new CEO.
Barra has consistently over-promised and under-delivered on autonomy.
I think her job is on the line, and it’s software that is the issue – they have the hardware for AV, but not the software. She has GM software people, Cruise software people, and even Microsoft people, all working AV software, with precious little to show for it. After spending billions. I think she has this Investor Day to show something BIG, or she’s gone.
Just read the GM 2023 earnings in yesterday’s GMA daily digest. Not that bad for a year with a UAW strike to deal with. Mary’s position is solid, whether you like it or not.
Mary. I mean Belo.
Your on the clock. Time to take your broom and fly home to retirement before they ax your.
No need to be rude. It is just my opinion based on over 20 years in a automotive manufacturing environment. I am not necessarily a Mary Barra fan. I started on the floor and I worked my way up in the Company through work and study. This career path is giving me a better understanding of the challenges of running such a large Company through the current business environment
She needs more cya time .
Software ? Engines, transmissions and now the roofs are LEAKING !
” Bu Bye, Mary . “
Dump the freaking EVs. Only an idiot would buy one. CR even is panning them.