GM's profits were driven by strong SUV sales, EV growth, cost reductions, and improved China sales.
GM's EVs hold a 9.8% share of the US EV market, behind only Tesla.
AdvertisementGeneral Motors reported strong third-quarter 2024 profits on Tuesday, topping Wall Street's estimates and helping send shares surging more than 9%.
Of those who purchased a GM EV, more than 60% are conquests from other automakers, Barra said.
Reuss said GM has eliminated 2,700 unique parts, ranging from seat assemblies to wiring harnesses, from its inventory.
Persons:
—, Mary Barra, EVs, Barra, Mark Reuss, Reuss
Organizations:
Motors, US, Service, Detroit, GM, Chevrolet Traverse, GMC Acadia, Consumers, General Motors, EV, Tesla
Locations:
China