GM Shares Leap as Automaker ups Guidance & Unveils Plan to Take on Tesla

A leaner General Motors says it will use the Cadillac brand to compete with Tesla, and the firm also delivered bullish guidance for 2019, sending GM shares upwards by 7%. GM Shares Leap 7% on Friday GM has seen excellent sales levels in the US and expects 2019 vehicle sales to once again hit the 17 million market. Unlike other brands with operations in China, Apple being one, GM expects sales in the country to hold. GM Share Price for the Last Six Months Source: TradingView GM is cutting costs and increasing automation in China but will balance that with 20 new or redesigned vehicles for the Chinese market, its largest. CEO Mary Barra gave a presentation to investors declaring: Because of the actions we have been taking for several years, General Motors enters 2019 leaner, more agile and positioned to win. The motor manufacturer drew criticism from US President…

Read the original article here