GM’s truck sales drive its push for self-driving cars GM…

GM’s truck sales drive its push for self-driving cars

GM reported a net profit of $2.1 billion for the first quarter, up from $1.1 billion in the year-ago period. But its earnings before interest and taxes were down 11.5 percent, its net revenue was down 3.4 percent and sales in China experienced a double-digit percentage dip.

Many analysts say it will be least five to 10 years out before fully autonomous cars can safely hit open public roads and offer a profitable business model.

GM acknowledges that it is always looking at ways to create shareholder value and attract investors, given the cost to develop self-driving cars. It has partnered with Honda and Japan’s SoftBank in the effort, with both investing more than $2 billion.

Morgan Stanley Adam Jonas wrote in a March 26 investor note. “We believe ‘peak AV’ sentiment in the market may have occurred in late 2017/early 2018.”

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