General Motors (GM) looks to expand revenue from non-core business – report
Non-core businesses include vehicle financing programmes, car accessories, and new ventures centred around transportation needs such as Maven
General Motors (GM) chief financial officer Chuck Stevens has said the company is looking to gain an additional USD2 billion in operating profit from non-core businesses (adjusted EBIT), compared with its financial results in 2015, according to a Wall Street Journal report. Stevens was speaking at a financial conference sponsored by Goldman Sachs on 3 November. These non-core businesses include vehicle financing programmes, car accessories, and new ventures centred around transportation needs such as Maven, a mobility services brand that leases cars to ride-hailing drivers. The company also expects to leverage increased revenue from opportunities related to its OnStar business.
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