GM Korea will launch the GMC brand with the Sierra Denali pickup truck

General Motors has reported a revenue rise but a softening of profits for the first quarter of 2023 but nonetheless hiked its full year forecast.

Q1 revenue was US$39,985m, up 11% on Q1 2023’s $35,979m, net income was down 18.5% to $2,395m ($2,939m) and EBIT-adjusted was off 6% to $3,803m from $4,044m.

Discover B2B Marketing That Performs

Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.

Find out more

The automaker’s updated guidance: net income of $8.4bn-$9.9bn, compared to the previous outlook of $8.7bn-$10.1bn, including $0.9bn of charges related to the voluntary staff cuts programe; EBIT-adjusted of $11bn-$13bn, compared to $10.5bn-$12.5bn.

Just Auto Excellence Awards - The Benefits of Entering

Gain the recognition you deserve! The Just Auto Excellence Awards celebrate innovation, leadership, and impact. By entering, you showcase your achievements, elevate your industry profile, and position yourself among top leaders driving automotive industry advancements. Don’t miss your chance to stand out—submit your entry today!

Nominate Now