General Motors (GM) has reported a solid financial performance for the fiscal year ending December 31, 2023, with net income attributable to stockholders at $10.1 billion. The company's EBIT-adjusted was $12.4 billion, reflecting a strong operating profit. Despite facing headwinds such as higher interest rates, inflationary pressures, and supply chain challenges, GM's financial results were bolstered by the success of high-margin products like full-size pickups and SUVs. The company also implemented a cost reduction program aiming to reduce automotive fixed costs by $2.0 billion annually by the end of 2024. GM's business development has been marked by strategic initiatives, including investments in electric vehicles (EVs), hybrids, autonomous vehicles (AVs), and software-enabled services. The company's future plans include a...Show More

General Motors (GM) has reported a solid financial performance for the fiscal year ending December 31, 2023, with net income attributable to stockholders at $10.1 billion. The company's EBIT-adjusted was $12.4 billion, reflecting a strong operating profit. Despite facing headwinds such as higher interest rates, inflationary pressures, and supply chain challenges, GM's financial results were bolstered by the success of high-margin products like full-size pickups and SUVs. The company also implemented a cost reduction program aiming to reduce automotive fixed costs by $2.0 billion annually by the end of 2024. GM's business development has been marked by strategic initiatives, including investments in electric vehicles (EVs), hybrids, autonomous vehicles (AVs), and software-enabled services. The company's future plans include a continued focus on sustainable operations and a leading health and safety culture, with an expected EPS-diluted and EPS-diluted-adjusted of between $8.50 and $9.50 for the year ending December 31, 2024. GM anticipates strong EBIT-adjusted margins in 2024, driven by product portfolio strength, improved EV margins, and ongoing fixed cost reduction efforts. The company's automotive financing arm, GM Financial, also contributed to the overall performance with a total revenue increase of 11.4% for the year ended December 31, 2023.