Text: Understand the original Chedi Li Dezhe
[Understand Chedi Original Industry] Understand Chedi learned from the official that on April 23, General Motors released its financial report for the first quarter of 2024. According to the data, the company's net income in the first quarter of this year reached $43 billion, net profit reached $3 billion, and adjusted EBIT reached $3.9 billion. Based on the good performance in the first quarter, GM raised its full-year financial guidance to expect full-year adjusted EBIT to be in the range of $12.5 billion to $14.5 billion.
GM's first-quarter net results were better than expected
GM said that in the first quarter of this year, the company continued to expand its leading position in the gasoline vehicle market such as SUVs and pickup trucks, especially in the U.S. market. Among them, General Motors has set a new record sales volume in the full-size pickup truck market since 2020, with a market share of nearly 66% in the full-size SUV market.
The Cadillac IQ will be officially launched at the Beijing Motor Show
In terms of the Chinese market, GM previously released data showing that in the first quarter of this year, the company's retail sales in the Chinese market exceeded 440,000 units, of which the sales of new energy vehicles increased by 42.6% year-on-year to more than 128,000 units. In terms of brands, the Buick brand sold more than 103,000 units in the first quarter, the Cadillac brand sold more than 33,000 units, and the Chevrolet brand sold more than 18,000 units. SAIC-GM-Wuling's Wuling and Baojun brands sold more than 286,000 units together.
The Chevrolet Explorer Plus is about to make its debut
General Motors said that this year it will accelerate the electrification of products in the Chinese market and enter the local niche market segment through the Dowlange, and at the upcoming Beijing Auto Show, the Cadillac IQ will be officially launched, the Buick GL8 PHEV version and the Chevrolet Explorer Plus will be released at the same time, and the first model introduced by the Dowlange platform, the Chevrolet TAHOE Tahoe, will also make its debut.