GM Focuses on EV, Autonomy

By Staff Writer November 06, 2020

General Motors Co. reported third-quarter earnings driven by its agility, and strong and growing franchises. Despite the COVID-19 pandemic, the company continued to invest in its electric vehicle and autonomous vehicle growth initiatives, launched an all-new portfolio of full-size Chevrolet, GMC and Cadillac sport utility vehicles, and maintained leading U.S. full-size pickup truck and large SUV market share.

Third-quarter 2020 results include: EPS-diluted of $2.78, and EPS-diluted-adjusted of $2.83; EPS-diluted-adjusted includes a $0.05 gain from Groupe PSA revaluations; income of $4.0 billion, and EBIT-adjusted of $5.3 billion; EBIT-adjusted margin of 14.9 percent; revenue of $35.5 billion; automotive liquidity of $37.8 billion; automotive operating cash flow of $9.9 billion, and adjusted automotive free cash flow of $9.1 billion; GM North America EBIT-adjusted of $4.4 billion and GM Financial EBT-adjusted of $1.2 billion.

“This year, and the third quarter, is a testament to GM’s resilience,” CEO Mary Barra said. “We entered the pandemic in a strong position and acted decisively to keep our teams safe, conserve cash and preserve liquidity, all while keeping our critical product programs on track.

“Now we are well positioned to meet rising customer demand, accelerate our transformation and deliver our vision of a world with zero crashes, zero emissions and zero congestion.”

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Last modified on Wednesday, 11 November 2020 13:53