In spite of all the chaos in the auto industry and all the chaos to come with the vagaries of tariffs and support or lack of support for EV's it's great to see a home team chalk up a big win and its workers get big pay checks.
"In its fourth-quarter and full-year results reported Tuesday, General Motors hinted at big bonus checks for salaried workers, record-setting profit-sharing checks for hourly workers and said it hit a milestone in making its electric vehicles "variable profit positive" — meaning the revenue from EVs now exceeds GM's direct costs to make them.
"Barra said global salaried employees have "earned strong performance bonuses" and U.S. hourly employees will get profit-sharing checks up to $14,500 as a result of GM's earnings.
"In its largest market, North America, Barra credited a broad vehicle portfolio and consistent sales for most of the profits. It reported fourth-quarter adjusted pretax profits of $2.5 billion, a 43% increase from the year-ago period. For the full year, GM said its adjusted pretax profits increased 21% to $14.9 billion."https://www.freep.com/story/money/ca...s/77933571007/
"Barra credited GM's strong year to robust sales of full-size pickups, new and redesigned SUVs and an expanding portfolio of EVs, which helped GM double its EV share of the market to 12.5% since the first quarter. GM also focused on profitability by keeping incentives below the industry average and the average transaction price around $50,000.
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