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submitted 1 year ago by NightOwl@lemm.ee to c/worldnews@lemmy.ml
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[-] Reverendender@sh.itjust.works 91 points 1 year ago

“The automakers, however, say they’re facing unprecedented demands on capital as they develop and build new electric vehicles while at the same time making gas-powered cars, SUVs and trucks to pay the bills.“

GM's full-year 2022 revenue was $156.7 billion.

Keep clutching your pearls, automakers. You disingenuous fucks.

[-] muertinez@lemm.ee 43 points 1 year ago

and the government keeps giving them plenty of handouts to make the transition “easier”. fucking insane.

[-] WhatAmLemmy@lemmy.world 8 points 1 year ago

Oligarchies are expected to lie, cheat, and steal. That's what makes them an oligarchy.

[-] SamboT@lemm.ee 9 points 1 year ago

General Motors Co. booked $9.9 billion in net income last year, down from 2021's $10 billion despite chronic supply chain woes, rising interest rates and a slowing economy.

GM's comparatively strong financial performance enabled the Detroit automaker to deliver profit-sharing bonuses of $12,750 to approximately 42,300 hourly employees (total number of employees in 2022 was 167,000) - GM's highest such profit-sharing payout. The bonuses total $500 million for the year, the company said.

https://www.detroitnews.com/story/business/autos/general-motors/2023/01/31/gm-reports-nearly-10-billion-in-profit-in-2022/69856635007/

https://investor.gm.com/news-releases/news-release-details/gm-reports-third-quarter-2022-results

[-] Corkyskog@sh.itjust.works 5 points 1 year ago

We have so much capital demand that we did almost 3 billion in stock buybacks the last two years... yeah that makes sense. They just bought back shares 3 months ago.

[-] HughJanus@lemmy.ml 2 points 1 year ago
[-] Reverendender@sh.itjust.works 1 points 1 year ago

My B. 14.5 billion in profits. Clearly they are saints, with the welfare of the common man foremost in their thoughts.

this post was submitted on 15 Sep 2023
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