General Motors Expects Adj. EBIT To Be Modestly Improved In 2014 - Quick Facts

(RTTNews) - General Motors Co. (GM) announced the company expects its total earnings before interest and tax, or EBIT adjusted to be modestly improved with improved underlying operating performance more than offsetting increased restructuring expense. The company expects its EBIT-adjusted margins to be similar to last year.

The company forecasts modest global industry growth in 2014 driven by the U.S., China and Europe. GM CEO, Mary Barra, said, "We continue to perform well in the two most important markets in the world, the U.S. and China. We're taking advantage of our strength in these countries to restructure and make the investments necessary to grow profitably in other parts of the world."

In the U.S., the company will introduce 15 new or upgraded models in 2014. In China, GM and its joint venture partners will introduce 17 new or upgraded models in 2014. The company also announced plans to open four additional plants in China through 2015, enabling production of up to 5 million units annually. Vehicles being introduced in key markets globally in 2014 include the Chevrolet Silverado HD, Tahoe, Suburban, Colorado, Aveo and Sail; Cadillac ATS Coupe, CTS and Escalade; GMC Sierra HD, Yukon XL, Denali XL and Canyon.