Daily Management Review

General Motors loses 4.5% of net profit


US auto giant General Motors (GM)'s net profit attributable to shareholders fell 4.5 per cent year-on-year to $6.427 billion in 2020, the company says.

Diluted earnings per share were $4.33 compared to $4.57 a year earlier. The car giant's total revenue fell 10.7% to $122.485 billion.

The company posted a net profit of $2.846 billion for the fourth quarter, compared with a loss of $194 million a year ago. Diluted earnings per share were $1.93 against a loss of $0.16 for the fourth quarter a year earlier, and adjusted earnings were $1.93 against $0.05 recorded a year earlier. Revenue for the three months under review rose 21.7 per cent to $37.518 billion.

The company's 2020 sales stood at 6.829 million vehicles, down 11.5% year-on-year. In the US, 2.547 million cars were sold, down 11.8% year-on-year. Sales in Asia-Pacific, the Middle East and Africa fell 6.6% to 3.434 million vehicles.

GM makes cars and trucks in 30 countries, sells and provides maintenance services in 140 countries. It is headquartered in Detroit, Michigan.

source: bloomberg.com