Talk about a plot twist in Detroit. General MotorsGM

shattered Wall Street’s expectations with record-breaking 2024 revenue of $187.6B, yet its stock tumbled nearly 9% Tuesday. While the automaker’s core business fired on all cylinders, looming challenges cast shadows over its 2025 outlook.

• The carmaker’s “outstanding” Q4 earnings of $1.92 per share beat analyst expectations by 4.3%, as strong North American sales drove pre-tax profits up 21% from last year — all while maintaining $50K+ vehicle prices and keeping discounts low relative to rivals.
• However, a $5B restructuring charge and a 41% drop in annual net income spooked investors — amplified by slower EV adoption and the potential for 25% tariffs on Mexican and Canadian imports.

The end of China’s golden era: Once delivering $2B in annual profits, GM’s imploding China operation has become a focal point — with market share plummeting from 14% in 2018 to 6.8% in 2024 amid fierce local competition. While GM expects to restore profitability there by 2025, the glory days of China’s contributions to the bottom line appear firmly in the rearview mirror.