GM Beats Q4 Expectations, Forecasts Strong 2024 Despite EV Market Challenges

CEO Mary Barra advocates for 'level playing field' in face of Chinese competition, considers reintroduction of plug-in hybrids.

General Motors (GM) reported strong Q4 earnings, beating Wall Street's expectations, despite a tough market in the EV sector and a six-week autoworkers' strike.
GM's CEO Mary Barra confirmed that the majority of the company's capital spend is on EVs, and expects EVs to account for 10% of all auto sales in 2024.
Barra addressed concerns about competition from Chinese automakers, advocating for a 'level playing field' without specifying a policy.
GM is considering reintroducing plug-in hybrid models to its lineup as part of its strategy to meet environmental goals and consumer demand.
Despite challenges, including a $2.7 billion loss from its self-driving technology division, Cruise, GM remains optimistic about its financial trajectory in 2024.