Reuters
GM, Ford must convince investors they can profit as prices fall
General Motors Co and Ford Motor Co are expected to report strong profits for 2022 next week, powered by premium-priced pickup trucks and sports utility vehicles (SUVs). Now, the Detroit rivals must convince investors that last year’s profit formula can keep working when costs for EV batteries are rising, high interest rates are cutting consumer purchasing power, and Tesla Inc is slashing prices. Already there are signs the Detroit automakers are scaling back spending to offset competitive and economic pressure.