Summary by Moomoo AI
General Motors (GM) has reported a solid financial performance for the fiscal year ending December 31, 2023, with net income attributable to stockholders at $10.1 billion. The company's EBIT-adjusted was $12.4 billion, reflecting a strong operating profit. Despite facing headwinds such as higher interest rates, inflationary pressures, and supply chain challenges, GM's financial results were bolstered by the success of high-margin products like full-size pickups and SUVs. The company also implemented a cost reduction program aiming to reduce automotive fixed costs by $2.0 billion annually by the end of 2024. GM's business development has been marked by strategic initiatives, including investments in electric vehicles (EVs), hybrids, autonomous vehicles (AVs), and software-enabled services. The company's future plans include a...Show More