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.

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.

Last month the vehicle manufacturing giant warned that the poor performance of its Chinese joint ventures would force it to write down assets.

GM finally made EVs "variable profit positive," meaning the EVs revenue cover the costs to make them. Here are the goals for 2025.

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