“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 38 points 1 year ago (1 children)

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 (1 children)

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 4 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 1 points 1 year ago (1 children)

Revenue is not profit

[–] 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.