GM reaffirms full-year profit forecast, but prepares for possible slowdown

General Motors Co (NYSE:GM) on Tuesday posted a quarterly profit and reaffirmed its forecast for the year, but added it was preparing for a potential slowdown.

“There are concerns about economic conditions, to be sure,” GM Chief Executive Mary Barra said in a shareholder letter. “That’s why we are already taking proactive steps to manage costs and cash flows, including reducing discretionary spending and limiting hiring to critical needs and positions that support growth. We have also modeled many downturn scenarios and we are prepared to take deliberate action when and if necessary.”