General Motors reported a record adjusted net income for 2024 Tuesday, just a year removed from a costly strike by the United Auto Workers union, and said that it expects even better operating results in the year ahead.
General Motors announced record-breaking profits, which workers will see in their pockets with a $14,500 check.
General Motors manufactured 22.3% of light vehicles in Mexico: it is the main automotive producer in the Mexican market
State Democrats revised a statement that originally asserted incorrectly that "factories (are) already idling because of Trump’s presidency."
Plus, Scout issues a stern warning to VW dealers about direct sales, and the VW-Rivian bromance is heating up.
GM’s Factory Zero did not shut down because of any executive orders signed by Donald Trump, according to a GM spokesperson.
Donald Trump’s tariff threats stand to hurt American economic interests because they would disturb automotive supply chains where the US is strong and drive up consumer prices, said the head of General Motors Co.
GM reported pre-tax profit of $2.5 billion in the quarter but reported a $3 billion net loss, mostly because of $4 billion in restructuring charges in China where it lost $4.4 billion in the year. The China business did return to profitability before restructuring charges in the fourth quarter, Jacobson said.
President Trump has slashed a slew of EV-related policies, which could affect many states that have received billions of dollars in investment for electrification, notably Michigan.
Challenges still remain for the US automaker in 2025, with its electric vehicle business and manufacturing footprint possibly under threat from new White House regulations.
Defense Secretary Pete Hegseth is set to announce the immediate rescission of the personal security detail and security clearance for former chair of the Joint Chiefs of Staff, retired Army Gen. Mark Milley, several news outlets are reporting. The Trump administration is also aiming to demote Milley in retirement. Hegseth is expected to direct the…