General Motors Notes Cost Increases from Iran War, but High-Price Vehicle Sales Remain Stable
General Motors (GM) reports that the Iran war is increasing costs, but high-priced vehicle sales remain stable with an average transaction price of $52,000 in Q1. CEO Mary Barra stated that while the company is monitoring customer spending, the vehicle mix has remained healthy so far. Consumer confidence has dropped to a record low due to rising energy prices and the Iran conflict.
Tickers: $GM
Topics: Automotive Industry Consumer Spending Earnings Call General Motors Iran War Impact