SUVs and EVs power GM to an earnings and forecast beat
General Motors just delivered a solid year, and sees another good one on the horizon in 2025. In its latest earnings report, released Tuesday, GM posted 11% revenue growth to $47.7 billion, more than $2 billion over Wall Street estimates.
GM’s total annual revenue climbed 9% from a year earlier to more than $187 billion.
Leading the charge for GM was strong demand for its gas-powered SUVs and trucks, along with robust growth in its EV biz. Earlier this month, GM said it sold 2.7 million vehicles last year, up 4% from 2023 — its best yearly total since 2019. It sold 44,000 EVs in Q4, a 50% surge, putting it second behind Tesla.
General Motors’ 2025 outlook exceeded analyst expectations, though the company was clear that it didn’t account for unknown policy changes by the Trump administration — including EV shifts and possible tariffs. On Monday, GM said it’s built an “extensive playbook” of scenarios should President Trump go through with his proposed 25% tariffs on goods from Canada and Mexico. The automaker built almost 900,000 vehicles in Mexico last year, and tariffs would likely spike its vehicle costs in the US. (Its average vehicle sold for $50,000 in 2024.)
