General Motors: Revenue, by year
in billion USD
  • Region: Worldwide
  • Time period: FY 2013 to FY 2023
  • Published: Jan 2024

Data Analysis and Insights

Updated: Apr 6, 2024 | Published by: Statistico | About Us / Data / Analysis

Revenue Growth from 2020 to 2023

General Motors Company experienced a significant revenue increase of 40.3%, from $122.49 billion in 2020 to $171.84 billion in 2023. This period marks the most substantial growth in the provided data set, showcasing the company's recovery and expansion post the challenges likely faced in 2020.

2023 Marks the Highest Revenue

2023 stands out as the year with the highest revenue, amounting to $171.84 billion. This figure not only indicates a recovery from previous years but also signifies General Motors Company's strongest financial performance over the last decade.

Recovery and Growth Post-2020

After a slight decrease in revenue in 2020 to $122.49 billion, General Motors Company rebounded with an upward trajectory in revenue, culminating in a peak in 2023. The years following 2020 show a consistent growth pattern, underscoring the company's resilience and strategic response to market changes.

Comparison with Previous Peak in 2018

The revenue in 2023 ($171.84 billion) not only surpassed the company's performance in the preceding years but also exceeded the previous peak revenue of $147.05 billion in 2018 by 16.9%. This comparison highlights General Motors Company's significant financial growth and market position strengthening over the years.

Steady Growth Rate from 2021 to 2023

Between 2021 and 2023, General Motors Company demonstrated a steady annual growth rate, with revenues increasing from $127.00 billion in 2021 to $171.84 billion in 2023. This steady growth suggests effective business strategies and market adaptation.

Fluctuations Before 2020

Before the revenue dip in 2020, General Motors Company's financial performance showed notable fluctuations. The revenue oscillated from a high of $149.18 billion in 2016 to a low of $122.49 billion in 2020, indicating varying market conditions and operational challenges pre-pandemic.

Year-over-Year Recovery Rate Post-2020

The year-over-year recovery rate post- 2020 underscores General Motors Company's robust response to the challenging market conditions of that year. The consistent increase in revenue from 2020 to 2023 reflects the company's strategic initiatives to regain and enhance its market position.

Frequently Asked Questions

How much did General Motors Company's revenue increase in recent years?

General Motors Company's revenue increased by 40.3%, from $122.49 billion in 2020 to $171.84 billion in 2023.

Which year had the highest revenue for General Motors Company in the last decade?

2023 marked the highest revenue for General Motors Company, reaching $171.84 billion.

Terms and Definitions

General Motors is a multinational corporation and one of the world's largest car manufacturers, leading in the production and sales of cars and trucks. The company designs, manufactures, markets, and distributes vehicles and vehicle parts, and they also provide automotive financing services through the General Motors Financial Company, Inc.

Revenue refers to the total amount of money a company earns from its activities, usually within a specific time frame such as a quarter or a year. It is also commonly known as sales, turnover, or gross income. Revenue is the top line on a company's income statement where all costs and expenses are subsequently deducted to arrive at the net income.

Gross revenue, also known as gross sales, is the total amount of sales recognized for a reporting period prior to any deductions. This means it includes all revenue (from all sources) before any expenses, taxes, or deductions are taken out.

Net revenue, also known as net sales, is calculated by subtracting the costs of returns, allowances, and discounts from gross revenue. It provides a more precise measure of actual income and shows what the company has earned after refunds, returns, and other deductions.

Operating revenue is revenue earned from a company's primary activities. For General Motors, operating revenue would pertain to the revenue earned from manufacturing, sales and servicing of automobiles.
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