Eight versions of GM’s new generation Chevrolet Silverado pickups are lined up at an event near Alpine, Idaho, on Aug. 7, 2018. Joseph White/Reuters
General Motors’ and Ford’s recent earnings reports portray a challenging time for Detroit. Both companies are relying more on potential tariff refunds, and service-based revenue—not sales—to support profitability, while electric vehicle (EV) losses continue to deplete cash flow.
Management commentary from both firms highlights the pressures facing the sector.
Sales Volume Decline
General Motors held its April 28 conference call after it released its first-quarter results.
