Auto manufacturer General Motors Company (GM) reported solid third-quarter 2022 financial results. The company’s revenue of $41.89 billion increased 56.4% year-over-year to $41.89 billion, while its adjusted EPS came in at $2.25, up 48% year-over-year. Moreover, the company raised its 2022 guidance and provided key performance indicators to help investors track its transformation and financial performance through 2025.
In the next three years, GM plans to move aggressively toward EV leadership as EV adoption is projected to be approximately 20% of U.S. industry sales in 2025. GM Chair and CEO Mary Barra said, “GM's ability to grow EV sales is the payoff for many years of investment in R&D, design, engineering, manufacturing, our supply chain and a new EV customer experience that is designed to be the best in the industry.”
