GM Posts Strong 2024 Results but Faces Uncertainty Under Trump Policies

General Motors exceeded revenue and earnings expectations despite challenges in China and EV production, while new tariffs and regulatory shifts could impact its 2025 outlook.

General Motors reported a Q4 2024 net loss of $3 billion due to $5 billion in charges tied to restructuring its China operations and halting its Cruise robotaxi program.
Despite the loss, GM's revenue grew 11% year-over-year to $47.7 billion in Q4, surpassing Wall Street estimates, and adjusted earnings per share reached $1.92.
The company achieved a milestone in its EV business, becoming 'variable profit positive' in 2024, though full profitability for EVs remains a longer-term goal.
GM projects 2025 earnings of $11 to $12 per share, but this guidance does not account for potential impacts from proposed tariffs on imports from Canada and Mexico or changes to EV tax credits under President Trump's administration.
Strong demand for gas-powered SUVs and trucks, along with growth in EV sales, contributed to GM doubling its EV market share in the U.S. in 2024, though challenges in scaling production persist.