General Motors (GM) and Ford are getting ready to share their earnings for the third quarter of 2024, and they’re facing some tough questions.
GM is doing well with its traditional gas-powered cars, and its CEO, Mary Barra, says there’s still more profit to be made. The company’s sales have been strong, and GM’s stock has risen by more than a third this year.
However, GM’s electric vehicle (EV) sales are growing slowly, and investors are monitoring how they handle both gas and EV markets. Ford, on the other hand, has struggled.
It’s dealing with quality issues and major losses from its EV division, which has caused its shares to drop by 8%.
One of the big worries for both companies is whether they can keep selling cars at high prices with rising interest rates and cautious consumers.
People are now preferring smaller, more affordable cars, which could change the market in the coming months.
As GM and Ford release their results, investors will be watching closely for updates on EV sales and how the companies adapt to economic challenges.
