GM Slips After Forecasting ’Modest’ Profit Gain in 2014
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General Motors Co., which plans 15 new or refreshed vehicles in the U.S. this year and 17 in China, forecast profit to “modestly” improve in 2014 as the automaker spends money to restructure nagging trouble spots overseas.
Improved operating performance should offset $1.1 billion in additional restructuring costs, leaving margins for adjusted earnings before interest and taxes similar to 2013 while industrywide sales grow in the U.S. and globally, GM said today, Mary Barra’s first day as GM’s chief executive officer.