General Motors (GM) Revenue — Quarter Ended Sep 30, 2024
General Motors reported a revenue increase for the quarter, supported by gains in both automotive and financial services. Net sales and revenue were higher compared to both the prior quarter and the same period a year earlier.
Key takeaway
Quarter ended Sep 30, 2024 · FY2024 Q3
General Motors reported a revenue increase for the quarter, supported by gains in both automotive and financial services. Net sales and revenue were higher compared to both the prior quarter and the same period a year earlier.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$44.7B
Revenue reported for this quarter.
Quarter-over-quarter
+1.5%
Change from the immediately preceding quarter.
Year-over-year
+10.5%
Change from the comparable year-ago quarter.
Trailing four quarters
$167.3B
Sum of the latest four reported quarters.
Quarterly revenue trend
The latest four reported quarters with year-over-year comparisons.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Dec 31, 2023 | $39.3B | -1.4% |
| Mar 31, 2024 | $39.2B | +7.0% |
| Jun 30, 2024 | $44.1B | +6.8% |
| Sep 30, 2024 | $44.7B | +10.5% |
Revenue performance
Total net sales and revenue rose, with automotive revenue and GM Financial revenue both contributing to the improvement. Operating income also increased during the quarter.
Quarterly comparison
Revenue showed a modest sequential increase from the preceding quarter. On an annual basis, the growth was more substantial, reflecting a stronger performance relative to the same quarter one year earlier.
What to watch
Material cash requirements for capital spending and investments in battery cell manufacturing joint ventures and autonomous vehicle technology represent important factors to monitor.