Ford and General Motors report earnings this week.
Duncan Aldred, head of GM's GMC brand, signaled the truck and SUV brand expects to continue increasing its average transaction price, which he said hit a new record of more than $63,405 during the fourth quarter.
GM on Tuesday guided to adjusted earnings per share for the full year 2023 of between $6 and $7, representing a decline from 2022 profit. That still came in above Wall Street projections for the period, however. "We estimate GM and Ford could see a notable decline in profitability this year, as earnings can be weighed down by vehicle pricing declines and losses from growing EV volumes," Deutsche Bank analyst Emmanuel Rosner wrote in an investor note earlier this month.
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