General Motors Co.
GM Reports 2024 Fourth Quarter and Full Year Consolidated Earnings
Summary
General Motors reported a full-year 2024 net income attributable to shareholders of $6.0 billion and EBIT-adjusted of $14.9 billion. The company reported a fourth-quarter 2024 net loss attributable to shareholders of $3.0 billion and EBIT-adjusted of $2.5 billion. The fourth-quarter loss was driven by more than $5 billion in special charges, primarily due to non-cash restructuring charges and impairment of certain China Joint Ventures, and charges related to the decision to stop funding the Cruise robotaxi business. Despite the loss, GM provided an optimistic 2025 guidance assuming a stable policy environment and anticipated capital spending. Full-year results include reconciliations to EBIT-adjusted and EPS-diluted-adjusted, as well as details on revenue, expenses, and cash flows across different segments.
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About General Motors Co.
General Motors Co. is a prominent American multinational corporation specializing in the design, manufacturing, and distribution of vehicles and vehicle parts. Primarily known for its influential brands such as Chevrolet, Buick, GMC, and Cadillac, General Motors plays a vital role in the automotive industry worldwide. The company is headquartered in Detroit, Michigan, and operates numerous production facilities across North America and various parts of the globe. A key characteristic of General Motors is its focus on advancing automotive innovation, including the development of electric and autonomous vehicles. The company is at the forefront of the transition towards sustainable transportation solutions, contributing to broader industry efforts to reduce carbon emissions. Besides its commitment to innovation, General Motors Co. plays a significant role in the global automotive supply chain, influencing multiple related sectors such as technology, steel, and consumer finance. General Motors continues to be a crucial player in the automotive sector, impacting economies and mobility solutions worldwide with its comprehensive range of vehicles and forward-thinking approaches.
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