Recently, GM’s Mary Barra told shareholders that GM had increased its full-year revenue by 9%, leading the United States in total, retail, and fleet deliveries alike. GM was not the only company to make profits off Stellantis’ sales drop, though; Ford has just weighed in with high profits from 2024.
Ford’s adjusted earnings before interest and taxes (EBIT) was $10.2 billion for the year, on $185 billion of revenue. Their net income of $5.9 billion before adjustments set a record, and compares with 2023’s $4.3 billion in net income, with a $10.4 billion EBIT. Ford lost money on EVs due to investments in future products and factories; General Motors recorded its first operational profit in EVs last quarter, as their more mainstream electrics reached the market. (Chrysler’s 1979-1980 losses were similar due preparing to launch the Reliant, Aries, and LeBaron “K-cars,” which were their profit drivers after 1981.)
GM UAW workers will have profit-sharing checks of up to $14,500 while Ford UAW workers will get checks for up to $10,208.
Stellantis will release its financials on February 26.
David Zatz started what was to become the world’s biggest Mopar site (Allpar) in 1994. After a chemo-induced 2007-2010 break, during which he wrote car books covering Vipers, minivans, and Jeeps, he returned with Patrick Rall to create StellPower.com for daily news, and to set up MoTales for mo’ tales (Chrysler history and “permanent” car and truck pages). He most recently wrote Century of Chrysler, a 100-year retrospective on the marque.
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