General Motors (GM) Q2 2017 Earnings Call Notes

Mary Teresa Barra – General Motors Co.

On autonomous cars

“From an autonomous vehicle perspective, miles driven is certainly a factor, but it’s not the only factor, because what is the quality of the miles driven? Right now, to our knowledge, we’re the only one testing our autonomous vehicles in Downtown San Francisco, which is a pretty dense urban environment with a lot more, I’ll say, opportunities to learn from different situations. So it’s not just the miles traveled. It’s the quality of those miles in the number of incidents that you’re exposed to that the vehicle learns. And so although we don’t have a very specific mile, there’s quite a bit of work we’re doing, even with agencies or groups outside of the company to put that together.”

Charles K. Stevens – General Motors Co.

Passenger cars to perform marginally better in H2

“…we expect to see is better sales in the second half versus the first half, which is kind of the way the industry runs. Within that perhaps marginally better passenger car, but we’re certainly not counting on a recovery.”

Trucks to have a downtime

“we built inventory in the first half in preparation for our previously announced downtime in trucks and crossovers in the second half of the year. ….all else being equal, we would expect to see more truck downtime next year versus this year. But by the same token, we will have incremental opportunities for compact and mid-crossovers next year because we’ve got significant downtime. But if I was providing an outlook right now, I would say probably production volume is going to be down in 2018 versus 2017 given the downtime.”