General Motors sees FY24 Cruise expense $1.7B

Says seeing profit improvement in EV portfolio. Says experienced higher labor costs in Q1. Says GM Financial continues to perform well. Sees FY24 Cruise expense $1.7B. Says assumes pricing pressure for ICE and EVs. Says strengthened the resiliency in supply chain. Says committed to China in the long term. Says seen softness in fleet, especially on EV side. Comments taken from Q1 earnings conference call.