General Motors (GM) reported total net sales and revenue of $187.4 billion for the fiscal year ending December 31, 2024, representing a 9.1% increase compared to $171.8 billion in 2023. This growth was driven by strong performance in the North American market (GMNA), which contributed $157.5 billion, an 11.4% increase year-over-year. The GM Financial segment also saw an 11.6% increase in revenue, reaching $15.9 billion.

Operating income for 2024 was $12.8 billion, up from $9.3 billion in 2023, reflecting improved profitability despite challenges in international markets. However, net income attributable to stockholders declined significantly to $6.0 billion from $10.1 billion in 2023, primarily due to equity losses in the Automotive China JVs and restructuring charges.

The Automotive China JVs faced significant challenges, reporting a net loss of $4.5 billion in 2024, compared to a net income of $1.1 billion in 2023. This was driven by $4.1 billion in impairment and restructuring charges, reflecting intense competition and regulatory challenges in the Chinese market. GM's market share in China declined to 6.9% in 2024, down from 8.4% in 2023.

GM's North American operations (GMNA) remained a key driver of profitability, with EBIT-adjusted of $14.5 billion in 2024, up from $13.0 billion in 2023. This was supported by strong sales of high-margin trucks and SUVs, as well as disciplined cost management. Wholesale vehicle sales in GMNA increased to 3.46 million units, representing 86.4% of GM's total wholesale volume.

Cash flow from operating activities was $23.9 billion in 2024, an increase from $20.8 billion in 2023, reflecting strong operational performance. However, capital expenditures remained high at $10.7 billion, consistent with 2023 levels, as GM continued to invest in its EV and autonomous vehicle initiatives.

GM's Cruise segment reported a net loss of $1.7 billion in 2024, reflecting restructuring charges and a strategic shift away from robotaxi development to focus on personal autonomous vehicle technology. This included $0.6 billion in charges related to the discontinuation of the Cruise Origin program.

Earnings per share (EPS) declined to $6.45 (basic) and $6.37 (diluted) in 2024, compared to $7.35 (basic) and $7.32 (diluted) in 2023. The decline was primarily due to lower net income and higher restructuring costs.

GM's global wholesale vehicle sales totaled 4.01 million units in 2024, up from 3.77 million in 2023. However, international operations (GMI) saw a decline in wholesale volumes to 547,000 units, reflecting challenges in South America, Asia/Pacific, and the Middle East.

The company ended 2024 with total assets of $279.8 billion, up from $273.1 billion in 2023, driven by increases in cash and cash equivalents and property investments. Total liabilities also increased to $214.2 billion, reflecting higher debt levels in GM Financial.