GM offers aggressive outlook in CEO Barra's 'do-over' year
General Motors CEO Mary Barra speaks next to the 2016 Chevrolet Volt hybrid during the fir
DETROIT General Motors Co Chief Executive Officer Mary Barra said on Wednesday the largest U.S. automaker would increase its profit this year, as she counted on investors to give her a second chance after her first year behind the wheel was marred by a costly recall scandal.
"We would have never been able to predict what we faced," Barra
told investors at a Deutsche Bank conference held in conjunction with the Detroit auto show.
All told, GM
took charges totalling more than $3 billion for the issues.
Analysts and investors see 2015 as a second chance for Barra
to define herself and her
"It is a do-over, but the question is, what does she
do with the opportunity?
said Morgan Stanley
analyst Adam Jonas.
"Decisions made over the next year or two are going to significantly affect the direction of the company over the next 10 years."
Analysts wonder how Barra will steer GM, especially given the troubles in many overseas markets and slower growth in China, GM's largest market by sales volume.
used this week's Detroit auto show to highlight one of her
main themes - that GM
is a technology leader, not the old company that tended to trail more innovative rivals.
To underscore that point, Barra
unveiled a prototype of the Chevrolet Bolt, an electric car that could launch within two years offering 200 miles of driving between charges and will have a starting price of just $30,000.