General Motors (GM) Q4 results beat expectations, showing strong growth momentum against the backdrop of stock price setbacks。According to the company's data, 2024 net profit is expected to be between $9.8 billion and $11.2 billion, with earnings per share of 8.$50 to $9.$50, EBIT is expected to be $12 billion to $14 billion, and free cash flow is between $8 billion and $10 billion.。The overall performance of this expectation is better than last year, which surprised analysts.。

Despite GM's challenges in China, where equity revenue fell 34% for the year and 54% in the fourth quarter, the company remains optimistic about its expectations for the Chinese market this year, which is expected to be flat compared to last year.。

In addition to the challenges facing the Chinese market, GM will also reduce its spending on its autonomous vehicle subsidiary Cruise, which is expected to decrease by about $1 billion。The decision comes against the backdrop of multiple state and federal investigations into Cruise following a pedestrian accident last October.。Still, GM has embarked on a major overhaul of Cruise。

In the field of electric vehicles, despite the slower adoption of electric vehicles in the United States, General Motors is still committed to expanding its electric vehicle product line and sales in 2024。Despite withdrawing its sales guidance for electric vehicles last year, GM plans to achieve its goal of adding 1 million electric vehicle production capacity in North America and achieving a medium-unit EBIT electric vehicle profit margin by 2025.。

However, GM has encountered some problems in increasing the production speed of the new electric car "Ultium," including major problems related to battery module assembly.。Nevertheless, the company said it will maintain the flexibility of the factory to produce electric vehicles and internal combustion engine vehicles according to consumer demand.。