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. The automotive giant's net income was impacted by over $5bn in special charges,

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.

US automaker General Motors swung to a loss in the fourth quarter on huge charges related to China. But still it topped profit and revenue expectations on Wall Street. For the three months ended December 31, GM lost $2.96 billion, or $1.64 per share. A year earlier the company earned $2.1 billion, or $1.59 per share.

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 swung to a loss in the fourth quarter on huge charges related to China, but still topped profit and revenue expectations on Wall Street.