Financial Performance - General Motors reported a full-year 2024 net income attributable to shareholders of 6.0billion,down40.710.1 billion in 2023[7]. - Fourth-quarter 2024 net income attributable to shareholders was a loss of 3.0billion,impactedbyover5 billion in special charges, including 4billioninnon−cashrestructuringcharges[2].−For2025,GM′sguidancefornetincomeattributabletostockholdersisprojectedbetween11.2 billion and 12.5billion,reflectingarecoveryfrom2024[3].−TheEBIT−adjustedfor2024wasreportedat14.9 billion, with a guidance range for 2025 set between 13.7billionand15.7 billion[3]. - Automotive operating cash flow for 2024 was 23.9billion,withaforecastfor2025between21.0 billion and 24.0billion[3].−Adjustedautomotivefreecashflowfor2024was14.0 billion, with expectations for 2025 ranging from 11.0billionto13.0 billion[3]. - The diluted EPS for 2024 was 6.37,withaprojectedrangefor2025between11.00 and 12.00[3].−Netincomeattributabletostockholdersfor2024was6.008 billion, down from 10.127billionin2023,adecreaseof40.56.45, compared to 7.35in2023,reflectingadeclineof12.26.37, down from 7.32in2023,adecreaseof13.02.961 billion for the three months ended December 31, 2024, compared to a net income of 2.102billionforthesameperiodin2023[20].−NetincomefortheyearendedDecember31,2024,was6.637 billion, a significant improvement from a net loss of (2.535)billionin2023[28].RevenueandSales−Revenueforthefourthquarterof2024was47.7 billion, an increase of 11.0% from 43.0billioninthesamequarterof2023[6].−Automotivenetsalesincreasedto171.605 billion in 2024, up from 157.667billionin2023,representingan8.315.875 billion in 2024, compared to 14.225billionin2023,markingan11.6187.442 billion, a 9.5% increase from 171.842billionin2023[17].−NetsalesandrevenueforthethreemonthsendedDecember31,2024,were47,702 million, an increase from 42,980millioninthesameperiodof2023,representingagrowthof11.9187,442 million, compared to 171,842millionin2023,markinganincreaseof9.1174.658 billion in 2024, up from 162.544billionin2023,reflectinga7.412.784 billion, compared to 9.298billionin2023,indicatinga37.54.1 billion for the three months ended December 31, 2024[32]. - Total adjustments for EBIT included 5.2billionforthethreemonthsendedDecember31,2024,comparedto598 million for the same period in 2023[51]. Assets and Liabilities - Total assets increased to 279.761billionasofDecember31,2024,comparedto273.064 billion in 2023, reflecting a growth of approximately 2.5%[24]. - Cash and cash equivalents rose significantly to 19.872billionin2024from18.853 billion in 2023, marking an increase of about 5.4%[24]. - GM Financial receivables, net, increased to 46.362billionin2024from39.076 billion in 2023, representing a growth of approximately 18.6%[24]. - Total current liabilities increased to 96.265billionin2024,upfrom94.445 billion in 2023, indicating a rise of about 1.9%[24]. - Long-term debt for Automotive decreased to 13.327billionin2024from15.985 billion in 2023, a reduction of approximately 16.5%[24]. - Total stockholders' equity decreased slightly to 63.072billionin2024from64.286 billion in 2023, a decline of about 1.9%[24]. - Inventories decreased to 14.564billionin2024from16.461 billion in 2023, reflecting a decline of approximately 11.5%[24]. - The company reported a total of 46.474billioninnon−currentGMFinancialreceivablesin2024,upfrom45.043 billion in 2023, an increase of about 3.2%[24]. - Accumulated other comprehensive loss increased to 11.253billionin2024from10.247 billion in 2023, indicating a rise of approximately 9.8%[24]. - Total non-current liabilities decreased to 117.906billionin2024from110.312 billion in 2023, a decrease of about 6.9%[24]. Cash Flow and Investments - Net cash provided by operating activities increased to 23.939billionin2024,comparedto(2.233) billion in 2023[28]. - The company reported a net cash used in investing activities of (12.813)billionin2024,comparedto(7) million in 2023[28]. - The net cash provided by financing activities was (8.501)billionin2024,comparedto1.204 billion in 2023[28]. - Cash, cash equivalents, and restricted cash at the end of the period for 2024 totaled 22.964billion,anincreasefrom21.917 billion at the end of 2023[28]. - The company recorded a provision for deferred taxes of 966millionin2024,comparedtoabenefitof(656) million in 2023[28]. - The change in other operating assets and liabilities resulted in a cash flow of 4.978billionin2024,comparedto693 million in 2023[28]. - The company reported pension contributions and OPEB payments of (1.517)billionin2024,comparedto(1.099) billion in 2023[28]. Market and Sales Volume - In the year ended December 31, 2024, GM's wholesale vehicle sales volume reached 4,010 thousand units, an increase from 3,768 thousand units in 2023, representing a growth of 6.4%[62]. - GM's total vehicle sales in North America for the three months ended December 31, 2024, were 889 thousand units, up from 747 thousand units in the same period of 2023, marking a 19.0% increase[65]. - GM's market share in the U.S. for the year ended December 31, 2024, was 16.5%, compared to 16.2% in 2023, reflecting a 0.3 percentage point increase[65]. - Fleet sales accounted for 16.9% of total vehicle sales for the year ended December 31, 2024, consistent with the percentage in 2023[67]. - GM's total vehicle sales in China for the year ended December 31, 2024, were 1,839 thousand units, a decrease from 2,099 thousand units in 2023, representing a decline of 12.4%[65]. - The North America capacity two-shift utilization for the year ended December 31, 2024, was 105.7%, an increase from 97.1% in 2023[67]. - GM's total vehicle sales in South America for the year ended December 31, 2024, were 424 thousand units, up from 456 thousand units in 2023, indicating a decrease of 7.0%[65]. - GM's total vehicle sales in the Asia/Pacific, Middle East, and Africa region for the year ended December 31, 2024, were 2,359 thousand units, down from 2,676 thousand units in 2023, reflecting a decline of 11.8%[65]. - GM's wholesale vehicle sales in the GM North America (GMNA) segment for the three months ended December 31, 2024, were 876 thousand units, compared to 782 thousand units in 2023, representing an increase of 12.0%[62]. - GM's total vehicle sales worldwide for the year ended December 31, 2024, were 6,001 thousand units, an increase from 6,189 thousand units in 2023, reflecting a decline of 3.0%[65]. Strategic Focus - The company is focusing on advanced technology and electric vehicles as part of its strategy for future growth[9]. - The company plans to continue investing in new technologies and market expansion to drive future growth[19]. - GM's 2025 financial guidance assumes a stable policy environment in North America and a $0.5 billion benefit from reduced expenses at Cruise[3].
GM(GM)2025-01-28 12:24