GM Q1 earnings exceed expectations, driven by gasoline vehicle sales and strong demand, despite slow electric vehicle market growth.
General Motors (GM) reported better-than-expected Q1 earnings, driven by increased sales of gasoline vehicles, particularly pickup trucks, and strong demand. GM's profit reached $3 billion, up from $2.4 billion in Q1 2022, despite slow growth in the electric vehicle market. The company now expects to make between $10.1 billion and $11.5 billion in profit in 2023, up from its previous forecast of $9.8 billion to $11.2 billion. GM is committed to its electric vehicle business and expects it to become profitable in the second half of the year.
April 22, 2024
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