GM reduces forecast

Source: Xinhua | 2018-07-26

General Motors cut its full-year profit forecast yesterday, in part due to higher commodity costs as it amplified its warning that mushrooming trade conflicts could dent US and global car sales. 

GM trimmed its earnings forecast from its prior range of US$5.52 to US$5.82 per diluted share to approximately US$5.14 per share. 

The company cited a “significant” increase in commodity costs, as well as the sinking valuation of the Argentine peso and Brazilian real that have marred its sales outlook in those markets.