
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GM posted record 2021 Earnings and EBIT-adjusted margins during 2021 in spite of a challenging semiconductor and supply chain hazards from the global Covid calamity. Q4 earnings were almost $2 billion. GM earned $10.4 billion for the year, excluding special items, compared to $7.1 billion in 2020.
Part of the record results came from execution by an all-star management team of a timely strategy, part from strong demand for what in AutoInformed’s view are the strongest product lines in GM’s history. However, vehicles it sold globally dropped to 6.3 million, -8% from 2020 and a drop of -18% from Covid-free 2019. (First Place! Toyota Ousts GM as US Sales End 2021 at 14.9m; GMC Shows Sierra Denali Ultimate and AT4X – $$$$$)
GM is pushing into new markets such as insurance and parts sales that promise to increase revenues and presumably profits in the future. “We are investing aggressively in growth platforms and changing our business model to increase recurring revenue streams over the life of each vehicle we build,” said Mary Bara CEO. It’s good news for more than 42,000 UAW members who will receive up to $10,250 in profit sharing. (Read AutoInformed on: GM’s Dual Platform Strategy – Doubling Revenues by 2030?; EV Boats – GM Buys Into Pure Watercraft; GM Stalks $20B Electric Conversion Market)
Here Are Some GM Strong-points
- Record 2021 EBIT-adjusted and EBIT-adjusted margin in a challenging semiconductor and supply chain environment
- Achieved North America 10% EBIT-adjusted margins that show the strength of GM full-size pickup and full-size SUVs. This should translate into the growing EV offerings.
- Record GM Financial results with continued earning assets growth.
- Ongoing Ultium strategy with the launch of the BrightDrop EV600 and the GMC Hummer EV Pickup
- Cadillac LYRIQ deliveries begin in less than 60 days.
- GMC HUMMER EV Pickups are on their way to customers with ~59,000 reservations.
Battery production starting mid-2022 at the Ultium Cells LLC manufacturing plant in Lordstown, Ohio – followed by three additional battery manufacturing plants in the coming years.
Additional BrightDrop EV600 production begins at CAMI in late 2022, which is launching with annual capacity of 30,000 units. It can almost double production by mid-decade
2022 GM Outlook
“With an improving outlook for semiconductors in the U.S. and China, we expect our 2022 results will remain strong. In fact, we expect our EBIT-adjusted earnings to remain at or near record levels in the range of $13 billion – $15 billion, all while investing more year over year in our growth businesses like Cruise, BrightDrop and our rapidly accelerating portfolio of electric vehicles,” said Mary Bara CEO.
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GM Posts Record $10.4B Earnings in 2021
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GM posted record 2021 Earnings and EBIT-adjusted margins during 2021 in spite of a challenging semiconductor and supply chain hazards from the global Covid calamity. Q4 earnings were almost $2 billion. GM earned $10.4 billion for the year, excluding special items, compared to $7.1 billion in 2020.
Part of the record results came from execution by an all-star management team of a timely strategy, part from strong demand for what in AutoInformed’s view are the strongest product lines in GM’s history. However, vehicles it sold globally dropped to 6.3 million, -8% from 2020 and a drop of -18% from Covid-free 2019. (First Place! Toyota Ousts GM as US Sales End 2021 at 14.9m; GMC Shows Sierra Denali Ultimate and AT4X – $$$$$)
GM is pushing into new markets such as insurance and parts sales that promise to increase revenues and presumably profits in the future. “We are investing aggressively in growth platforms and changing our business model to increase recurring revenue streams over the life of each vehicle we build,” said Mary Bara CEO. It’s good news for more than 42,000 UAW members who will receive up to $10,250 in profit sharing. (Read AutoInformed on: GM’s Dual Platform Strategy – Doubling Revenues by 2030?; EV Boats – GM Buys Into Pure Watercraft; GM Stalks $20B Electric Conversion Market)
Here Are Some GM Strong-points
Battery production starting mid-2022 at the Ultium Cells LLC manufacturing plant in Lordstown, Ohio – followed by three additional battery manufacturing plants in the coming years.
Additional BrightDrop EV600 production begins at CAMI in late 2022, which is launching with annual capacity of 30,000 units. It can almost double production by mid-decade
2022 GM Outlook
“With an improving outlook for semiconductors in the U.S. and China, we expect our 2022 results will remain strong. In fact, we expect our EBIT-adjusted earnings to remain at or near record levels in the range of $13 billion – $15 billion, all while investing more year over year in our growth businesses like Cruise, BrightDrop and our rapidly accelerating portfolio of electric vehicles,” said Mary Bara CEO.
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