General Motors (GM) has reported a loss of $2.96bn in the fourth quarter of 2024, a downturn from a profit of $2.1bn in the same period the previous year.

General Motors Company (NYSE:GM) shares are trading lower in the premarket session on Tuesday. The automotive behemoth reported adjusted earnings per share of $1.92 in the fourth quarter, beating the street view of $1.

For the full year 2024, GM reported a revenue of $187.44 billion, an increase from $171.84 billion revenue in 2023. However, the bottom line shows that GM's net income for the full year 2024 was $6 billion, compared to $10.12 billion in 2023. Charges incurred in the last quarter of 2024 reduces significantly the overall net income for the year.

General Motors moved to a loss in its fourth quarter, as the automaker dealt with charges tied to its Chinese joint ventures, but its adjusted profit and revenue still soundly beat Wall Street’s expec

General Motors sold vehicles at an average price of $50,000 in 2024. Its revenue surged to $47.7 billion from $42.98 billion