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.

General Motors Company (NYSE:GM) shares are trading lower in the premarket session on Tuesday. The automotive behemoth reported adjusted earnings per share of $1.92 in the fourth quarter, beating the street view of $1.

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.

General Motors sold vehicles at an average price of $50,000 in 2024. Its revenue surged to $47.7 billion from $42.98 billion