This article is reprinted from Gasgoo.com. On May 5th, General Motors released the first quarter of 2021 financial report. The financial performance was strong. The reasons behind it were the stable pricing trend and competitive product portfolio in the North American market, the good credit and residual value performance of General Motors' financial business, and the Chinese market. Strong recovery.

　　(Image source: GM)

　　In the first quarter, GM’s net income reached US$32.5 billion; net profit reached US$3 billion, a 949% increase from US$286 million in the same period last year; adjusted pre-interest and tax profit reached US$4.4 billion; net profit margin reached 9.3%. Earnings before interest and taxes reached 13.6%, compared to only 3.8% in the same period last year; diluted earnings per share were 2.03 US dollars, and adjusted diluted earnings per share were 2.25 US dollars. GM’s adjusted EBIT in the North American market reached US$3.1 billion, and the adjusted EBIT ratio was 12.1%; the adjusted EBIT in the international market reached US$300 million, and the Chinese market’s investment income reached US$300 million; GM Finance Business profit before tax reached 1.2 billion U.S. dollars.

　　Ms. Mary Barra, Chairman and Chief Executive Officer of General Motors, stated in a letter to shareholders: "The strong financial report in the first quarter once again demonstrates GM's strong internal strength. The North American market, the Chinese market and GM Finance The business performance is particularly outstanding. We will continue to implement the company's development strategy, make big strides towards the future of pure electric, and fully grasp the growth opportunities on the road of transformation."

　　General Motors expects diluted earnings per share in 2021 to be between US$4.28 and US$5.03, and adjusted diluted earnings per share are expected to be between US$4.50 and US$5.25; annual net profit is expected to be US$6.8 billion to US$7.6 billion The adjusted pre-interest and tax profit is expected to be between 10 billion and 11 billion US dollars; the net profit in the first half of the year is expected to reach approximately 3.5 billion US dollars, and the adjusted pre-interest and tax profit is approximately 5.5 billion US dollars.

　　Accelerate future-oriented transformation

　　LYRIQ Smart Pure Electric SUV

　　With financial support, GM continues to promote business transformation. The company has accelerated its investment in growth businesses such as electric vehicles and autonomous vehicles, and has made a series of key developments.

　　By 2025, 30 pure electric products will be launched globally, covering multiple brands and market segments. The first Cadillac LYRIQ smart pure electric SUV based on the Ultium platform in the Chinese market will be officially launched early next year. Its mass production version was unveiled in April, 9 months earlier than the original plan;

　　Following the HUMMER super electric pickup truck, the HUMMER pure electric SUV is launched to further expand the GMC brand electric vehicle lineup. HUMMER pure electric SUV focuses on creating the ultimate off-road performance, and is equipped with many industry-leading exclusive technologies, including adaptive air suspension Extract Mode technology and CrabWalk four-wheel steering technology;

　　Launched a new business, BrightDrop, to improve freight logistics efficiency while reducing carbon footprint; the first batch of BrightDrop EV600 electric logistics trucks will be delivered to FedEx within this year;

　　Ultium Cells LLC, a joint venture with LG Chem, will build a second battery cell plant in Spring Hill, Tennessee, which is scheduled to open in 2023; the first plant in Lordstown, Ohio will be put into operation in 2022;

　　Continue to promote the product application of a new generation of VIP intelligent electronic architecture, laying the foundation for the introduction of various intelligent and networked advanced technologies in vehicles. The VIP intelligent electronic architecture has been installed in the products of Cadillac and Buick in the Chinese market, and will be promoted to the Chevrolet brand in the future. It will continue to expand the application scenarios and product coverage of the Super Cruise™ super intelligent driving system, so that more consumers can enjoy the assisted driving technology. benefit;

　　Joint Microsoft and Wal-Mart to make a new equity investment of US$2.75 billion in Cruise; Cruise has signed an agreement with Dubai and plans to launch 4,000 Cruise Origin autonomous taxis by 2030.

　　On May 5, GM's stock price rose 4% to 57.58 US dollars per share.