GM: EVs profitable, US more profitable, China brings loss

Jan 28, 2025 · It will take more time to make back the EV investment, but the company no longer sells electric cars at a loss. The main problem for GM was China. The company restructured …

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GM Reports 2024 Pretax Profit Of $14.9 Billion On Strong Truck Sales

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6 days ago · The full year in a snapshot. For all of 2024, GM's global revenue rose 9% to $187 billion. GM's annual net income slid 41% to $6 billion, compared with $10.1 billion in the year …

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GM Posts Quarterly Loss, Makes Plans For Potential Tariffs - MSN

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GM expects to build 300,000 EVs in 2025, a nearly 60% increase from last year. Targeting China profit in ‘25 GM said its China business was profitable in the fourth quarter excluding the ...

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GM 2024 Profit Down From China Revamp But Tops Wall Street …

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Jan 28, 2025 · GM in December said it expected a $2.6 billion to $2.9 billion write-down, or reduction in value on its investment, in its China joint venture as well as a loss of $2.7 billion …

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G.M.’s Ailing China Business Will Deal It A $5 Billion Blow

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Dec 4, 2024 · General Motors said on Wednesday that it would take a more than $5 billion hit to its profit as it restructured its ailing operations in China, which have been losing money as its …

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GM Posts $3B 3Q Profit Despite US Sales Drop, China Losses | AP …

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Oct 22, 2024 · It was the stock’s biggest single day percentage gain in more than four years. GM’s stock closed up 9.8% at $53.73, the biggest increase since March 24, 2020 and the …

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General Motors Hits Costly $5 Billion Speed Bump Overseas

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Dec 15, 2024 · At first, automakers such as General Motors (GM 0.90%) thrived in China, and it became GM's largest market for sales volume for a time. However, the alarm bells have been …

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EVs Create Profit Potholes For Major US Automakers GM, Ford

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Oct 29, 2023 · General Motors saw its quarterly profit reduced by about $1.5 billion because of higher costs and the impact of selling more EVs – though it doesn’t break out losses from its …

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GM: EVs Profitable, US More Profitable, China Brings Loss

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Jan 28, 2025 · GM’s chief executive, Mary Barra, sent a letter to shareholders in advance of the shareholder meeting. She noted that the company increased its full-year revenue by 9%, …

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SUV/Truck Margins, Higher EV Production Bolster Q3 For GM

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Oct 23, 2024 · It claims EV incentives 11 points below the EV segment average and a 9.8% share of the US EV market as of last quarter. GM’s new ICE and EV models “are more profitable …

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GM Q4 Earnings Beat Estimates As EV Business Turns The Corner, …

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Jan 27, 2025 · Nonetheless, GM now sees 2025 profit coming in at a range of $13.7 billion to $15.7 billion, with a lower low bound but a higher upper bound than in 2024. Diluted and …

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GM’s Shares Post Biggest Percentage Gain In Over 4 Years As …

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Oct 22, 2024 · Chief Financial Officer Paul Jacobson said that while overall sales in the U.S., GM’s most profitable market, fell 2.2% in the quarter, much of that drop was from sales to …

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FAQs about GM: EVs profitable, US more profitable, China brings loss Coupon?

Can GM profit from EVS?

It's not easy to profit from EVs given the high costs associated with development and materials. In fact, GM's legacy competitors are still losing billions of dollars on EVs. Ford recorded losses of $1.2 billion in the third quarter alone. ...

Is GM losing its EV business in China?

It’s a different story now. GM’s China business, primarily a joint venture with state-owned automaker SAIC Motor, is now losing the carmaker millions of dollars a quarter, as EV players like Elon Musk’s Tesla and local competitors like BYD and Geely muscle out GM’s tried-and-true models. ...

Does GM sell EVs in China?

This market trend pushed GM to sell new EV brands in China, including the Cadillac Lyriq, Buick Electra, and Chevrolet Menlo. While GM sold over 100,000 EVs in China in 2023, this figure is dwarfed by sales from Chinese manufacturers such as BYD, which sold over 2.7 million EVs in China that year. ...

How many EVS did GM sell in the third quarter?

Meanwhile, in the US, GM sold a record 32,095 EVs in the third quarter, up 60% year over year. The record sales were enough to top Ford and Hyundai, making GM the number two seller of EVs in North America, behind Tesla. GM said its EV profitability in North America is steadily improving. ...

Is GM's EV business a 'variable profit positive'?

Sort of. In a letter to shareholders, GM CEO Mary Barra described its EV business as “variable profit positive,” in which the revenues from its EVs exceeded the fixed costs of manufacturing the vehicles, including labor and building materials. ...

Why did General Motors lose $1.5 billion in EV sales?

FORD MOTOR CO. GENERAL MOTORS CO. General Motors saw its quarterly profit reduced by about $1.5 billion because of higher costs and the impact of selling more EVs – though it doesn’t break out losses from its EV unit in the same way Ford does. ...