General Motors Just Gave a Very Upbeat Outlook for 2019

According to a forecast from auto maker General Motors, the expectations for 2019 are looking very bright.

CEO Mary Barra said that the company expects to surpass its original 2018 adjusted earnings projection of between $5.80 and $6.20 a share and that diluted adjusted earnings per share are expected to be in the range of $6.50 to $7 for the year.

“From a 2018 perspective, it is not only a focus on really capitalizing on the new trucks we have out there, the light-duty trucks, but also the focus on cost reduction so it was across the board. Every element of the company,” Barra said to CNBC’s Phil LeBeau.

It was last year that the chief executive had announced plant closures and that 14,000 jobs would be slashed. The restructuring is supposed to save the company $6 billion by the end of 2020.

According to Barra, the job cuts were “proactive.” She explained on Friday, “We have been transparent with the [United Auto Workers union], helping them and making sure they understand the business and that customers’ preferences are changing.”

Barra also said that GM has 20 new or updated products coming out in China. “When you step back and look at China, we have been there for 20 years, we have had tremendous success, we have very strong brands,” she said to LeBeau. “We think that the trade talks that are going on right now are very constructive, the fact they have extended this round to have even more discussion, the next is already scheduled, we know there is discussion of durable goods stimulus in country that we think will apply to autos.”

In separate news, two sources said to Reuters that the Cadillac is expected to become General Motors’ lead electric vehicle brand. GM announced this week that Cadillac sales in China rose 17.2 percent in 2018, passing 200,000 units for the very first time.

Disclaimer: We have no position in General Motors Company (NYSE: GM) and have not been compensated for this article.