GM Sees Topping Outlook as Truck Plants Ramp Up; Shares Jump
- First-half results to be ‘significantly better’ than guidance
- Company likely to gain share of pickup market, analyst says
This article is for subscribers only.
General Motors Co. surged the most in four months after saying plans to boost output at two truck plants will allow the company to beat its first-half forecast and hit the high end of its full-year target.
GM will increase production of especially profitable heavy duty pickups in Flint, Michigan, and of midsize pickups in Wentzville, Missouri, according to a statement Thursday. The company has done a better job than many rivals in securing semiconductors during scant supply worldwide and kept output at higher levels.