General Motors Company (GM) Investor Day 2024 summary

Strategic direction and future plans

• Focus on maintaining strong ICE vehicle profitability while accelerating EV growth, with disciplined capital allocation and cost management.

• Launching eight new or redesigned ICE SUVs in North America in 2025, targeting high-margin and high-volume segments.

• Continued investment in software, autonomy, and partnerships to drive innovation and efficiency.

• Ongoing transformation in China, aiming for profitability and sustainable growth through inventory reduction and product focus.

• 2025 outlook includes industry-aligned volume, revenue growth, EV profitability progress, and moderating prices, offset by higher labor costs.

Financial performance and guidance

• 2025 EBIT expected to be in a similar range to 2024, supported by cost reductions, improved EV profitability, and new product launches.

• EBIT-adjusted guidance for 2024 raised to $13.0–$15.0B, with H1 2024 EBIT-adjusted at $8.3B and $6.4B in adjusted automotive free cash flow.

• Robust cash generation and continued share buybacks, targeting less than 1 billion shares outstanding by early 2025.

• Approximately $20B returned to shareholders from 2022 through 2024 via dividends and repurchases.

• GMNA EBIT-adjusted margins have remained at or above 8–10% from 2021 through H1 2024.

Electric vehicle (EV) strategy and profitability

• EV portfolio expected to reach positive variable profit in Q4 2024, with EV EBIT losses narrowing by $2B–$4B in 2025.

• Targeting production and wholesale of ~200K EVs in North America in 2024, with 120K through Q3.

• EV EBIT margin improvement of ~55 percentage points expected by end of 2024, driven by scale, mix, and cost reductions.

• Battery cost per kWh reduced by $60 from 2023–2024, with another $30 reduction expected in 2025.

• Introduction of prismatic and LFP battery chemistries to further lower costs and increase supply flexibility.