China Economic Net, Beijing, January 31 (Reporter Wang Yueyue) Yesterday, General Motors released its 2023 annual financial report. According to the data, GM's net income reached $171.8 billion last year, a record high, a year-on-year increase of 10%; Net income reached $10.1 billion and adjusted EBIT reached $12.4 billion, exceeding financial expectations for the third consecutive year. Diluted earnings per share were 7$32, adjusted earnings per diluted share of 7$68; Adjusted automotive cash flow was $11.7 billion.
It is understood that GM is making every effort to accelerate the development of the electric vehicle business while maintaining the steady growth of the fuel vehicle business. Buick's two Autonom products, the Electra E4 and Electra 5, quickly gained popularity among consumers after their launch in the Chinese market, with cumulative sales of more than 20,000 units. This year, the company will release more Autonox models, all covering major brands and market segments, including Chevrolet Equinox EV, Cadillac Escalade IQ, GMC Sierra EV and more.
In a letter to shareholders, General Motors Chairman and CEO Mary Barra said, "We delivered strong results last year, gained valuable experience, and laid a solid foundation for the business in the new year. We will further strengthen our strengths, face challenges head-on, continue to grow and profitability our electric vehicle business, and create greater value for our shareholders." ”
General Motors Dowlange appeared at the 2023 CIIE (Source: Photo provided by the company).
Looking ahead to 2024, GM expects net income to be in the range of $9.8 billion to $11.2 billion, adjusted EBIT to be in the range of $12 billion to $14 billion, and adjusted diluted earnings per share to be in the range of $8.0 billion$50 to $9Adjusted automotive cash flow is expected to be in the range of $8 billion to $10 billion.
Building on its strong performance, GM continues to invest in growth businesses and further strengthens its competitive advantage in the EV chain ecosystem in North America, with the first battery joint venture plant now in full operation and the second set to begin operations in the first quarter of this year.
In the Chinese market, General Motors' high-end import and lifestyle platform, The Durant Guild, will officially introduce two selected full-size SUV models, Chevrolet Tahoe Tahoe and GMC Yukon Yukon, to enter the high-end niche market this year.
Named after GM founder William Durant, Doulange exclusively offers GM's most iconic high-end models, including Cadillac, Chevrolet, GMC and more. In order to cooperate with the implementation of personalized products, and at the same time, in order to quickly reach the target group with the diversified temperament of the brand, Daolange will open directly operated showrooms and delivery centers in major first-tier and second-tier cities across the country this year, and at the same time integrate customer touchpoints such as physical exhibition halls, pop-up stores, digital services, and door-to-door services, and strive to create an inclusive, comprehensive, excellent and unique customer experience.
*: China Economic Net.