GM release full year and Q4 2024 earnings report
Total company revenue of $187B, up more than 9% vs.2023 and CAGR of ~10% since 2021. EV portfolio variable profit positive in Q4, along with being the #2 seller of EVs in the U.S. H2–24
Strong financial performance
Record financial results with revenue up 9% and EPS-dilutedadj. up 38% YoY in 2024
Achieved variable profit positive on our EV portfolio in the fourth quarter
Completed the net $2B auto fixed cost reduction program
Core auto business executing and driving growth while maintaining discipline
U.S. market share of 16.5%; up 0.3ppts, with incentives more than 2 full percentage points below industry average
U.S. ICE dealer inventory at 53 days and within our 50–60 day year-end target
#2 seller of EVs in the U.S. across the second half of 2024
Balanced capital allocation
CapEx flat YoY at $10.7B as we strategically invest across the ICE and EV portfolio to support long-term profitable growth
Achieved our goal to reduce our share count to below 1B
Returned $7.6B (~55% of AAFCF) to our shareholders and redeemed $0.75B of senior notes
GM CEO Mary Barra adresses shareholders about truck sales, EVs and more. Q4 2024 Letter to Shareholders
General Motors (NYSE:GM) is driving the future of transportation, leveraging advanced technology to build safer, smarter, and lower emission cars, trucks, and SUVs. GM’s Buick, Cadillac, Chevrolet, and GMC brands offer a broad portfolio of innovative gasoline-powered vehicles and the industry’s widest range of EVs, as we move to an all-electric future. Learn more at GM.com.
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