The US car manufacturer General Motors (GM) earned unexpectedly well in the last quarter and is also heading into the new year optimistic about the prospect of a better-performing North American market.
In 2024, boss Mary Barra expects a profit of 12 to 14 billion US dollars (up to 12.9 billion euros) before interest, taxes and special items, as the car company announced on Tuesday in Detroit. Last year, GM earned $12.4 billion in operating income. That was almost 15 percent less than in the record year 2022, but more than analysts expected. The bottom line was that net profit of $10.1 billion was almost two percent more than the year before.
GM was hit by the weeks-long strike in the US automobile industry in the fourth quarter and suffered higher annual losses at its ailing robotaxi company Cruise. Also the structure of the Electric car-Offer stuttered at last. On the other hand, gasoline-powered SUVs and pickups generate a lot of profit. Total sales climbed by almost ten percent to almost $172 billion in 2023.
GM shares temporarily rose 7.90 percent to $38.19 in NYSE trading.
dpa AFX
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