GM's Path to Profitability: Balancing EV Ambitions with Traditional Stability

General Motors CEO Mary Barra reassured investors about the company's future amid concerns of peak demand for gasoline vehicles and lagging electric vehicle sales. Barra highlighted GM's profit margins and stability plans, including cost reductions and EV optimism despite slower-than-expected transitions, while discussing strategies in markets like China.

General Motors is striving to steady its course through the shifting automotive industry landscape. At an investor gathering in Spring Hill, Tennessee, CEO Mary Barra aimed to reassure stakeholders concerned over dwindling demand for electric vehicles and a peak in gasoline-powered truck sales.

Barra emphasized GM's profit margins on traditional vehicles remain strong and that electric vehicle sales are gaining momentum. She also addressed the company's strategic adjustments in China and the status of its autonomous vehicle division, Cruise, following an incident last fall.

Despite ambitious goals set three years ago, GM now pivots towards stabilization, focusing on cost-cutting measures and strategic partnerships like the one with Hyundai, to enhance affordability and expand electric vehicle technology offerings.

(With inputs from agencies.)