General Motors CFO: Bumping up against 'limits of affordability'

Breakdown

• GM CFO Paul Jacobson reports that the current quarter is consistent with expectations, with strong demand for vehicles. 13s
• GM is adjusting to post-tax credit EV demand and right-sizing its manufacturing footprint, with normalization expected to take months. 20s
• Vehicle pricing has remained stable, up about 0.5% to 1% for the year, but GM is reaching the limits of affordability for consumers. 1m 33s
• GM is increasing supply chain resiliency by diversifying geographically and reducing reliance on China and Southeast Asia, despite some increased costs. 2m 21s
• Recent supply chain challenges have not disrupted production, as GM has maintained flexibility and resilience in sourcing components. 2m 45s