General Motors generated some ***** billion U.S. dollars in revenue during the 2024 fiscal year, a rise of *** percent year-on-year. Revenue from GM's automotive segments increased by *** percent overall but dropped by **** percent in markets outside North America. The fiscal year end of the company is December, 31st. Financial performance recovers  2023 was an eventful year for General Motors. The automaker had to contend with the United Auto Workers strike. This strike led to an estimated **** billion U.S. dollars in losses for the Detroit Three manufacturers (General Motors, Stellantis, and Ford), and contributed to shaping GM's year. The company's adjusted earnings before interest and taxes decreased year-over-year, despite growing global vehicle sales boosted by the manufacturer's North American success. GM's 2024 fiscal year yielded better results.

Net income attributable to General Motors Company common shareholders stood at roughly *** billion U.S. dollars in 2024. This was a decline of some **** percent year-over-year. GM sold its European Opel and Vauxhall brands to PSA in 2017, but remains a collection of some of America's most popular automotive brands, including Chevrolet, Cadillac, GMC, and Buick.

General Motors Company's annual net income per employee was - in fiscal year 2025. The net income per employeedecreased$79.05 Kfrom $79.05 K(in 2024) to - (in 2025), representing a -100.00% year-over-year decline.

In 2024, General Motors Korea's net income amounted to around *** trillion South Korean won, increased from a income of about *** trillion won in the previous year. The company offered the Chevrolet and Cadillac brands to South Korean consumers.

The net income of General Motors Co with headquarters in the United States amounted to **** billion U.S. dollars in 2024. The reported fiscal year ends on December 31.Compared to the earliest depicted value from 2020 this is a total decrease by approximately **** billion U.S. dollars. The trend from 2020 to 2024 shows, however, that this decrease did not happen continuously.

The United States was the largest single target market for General Motors in 2023. During that fiscal year, the Detroit company and its associations sold some *** million motor vehicles to customers in China, the world’s largest automobile market. Overall, GM’s dealers, distributors, and joint ventures reported vehicle sales of some *** million units, almost *** million of which occurred in China and the United States.  Ownership cap China began to deregulate its automotive sector in the mid-1990s but prohibited foreign firms from owning more than ** percent of stakes in joint ventures. General Motors joined forces with Shanghai-based SAIC on June 12, 1997. The SAIC Motor Corporation, which is also involved in a partnership with Volkswagen, was the leading automobile manufacturer in China in 2021 with car sales of nearly *** million units. Currently, the SAIC-GM joint venture sells vehicles under the Buick, Chevrolet, and Cadillac brands. General Motors also sells commercial vehicles in collaboration with the Changchun-headquartered automotive manufacturing company FAW Group Corporation.

PTP GM with Multi-GNSS Holdover Market Outlook

According to our latest research, the Global PTP GM with Multi-GNSS Holdover market size was valued at $1.2 billion in 2024 and is projected to reach $3.5 billion by 2033, expanding at a strong CAGR of 12.7% during the forecast period of 2025–2033. The primary growth driver for this market is the surging demand for highly accurate and resilient time synchronization solutions across mission-critical sectors such as telecommunications, financial services, and power utilities. The integration of Multi-GNSS holdover capabilities within Precision Time Protocol Grandmaster (PTP GM) systems has become essential for ensuring uninterrupted operations, even during GNSS outages, which is a key requirement in the era of 5G deployment, smart grids, and high-frequency trading. As industries continue to digitize and automate, the need for reliable, high-precision timing infrastructure is propelling the adoption of advanced PTP GM with Multi-GNSS holdover solutions globally.

Regional Outlook

North America holds the largest share in the global PTP GM with Multi-GNSS Holdover market, accounting for approximately 38% of total revenue in 2024. This dominance is attributed to the region's mature telecommunications landscape, rapid 5G rollout, and stringent regulatory requirements for time synchronization in financial and utility sectors. The presence of leading technology vendors and a robust ecosystem for R&D investments further strengthens North America’s position. Additionally, the region benefits from early adoption of advanced timing infrastructure in defense and transportation, driven by government mandates and the critical need to mitigate cyber and operational risks. The United States, in particular, leads the demand due to its large-scale smart grid modernization initiatives and the proliferation of data centers requiring precise time-stamping.

The Asia Pacific region is projected to be the fastest-growing market, with a forecasted CAGR exceeding 15% from 2025 to 2033. This accelerated growth is fueled by massive investments in next-generation network infrastructure across countries like China, Japan, South Korea, and India. The rapid expansion of 5G networks, coupled with increasing digitization of financial services and government-driven smart city projects, is driving the need for resilient and scalable PTP GM with Multi-GNSS holdover solutions. Furthermore, the region’s burgeoning manufacturing and transportation sectors are integrating advanced timing systems to enhance operational efficiency and safety. Strategic collaborations between local governments and global technology providers are further accelerating market penetration and innovation in Asia Pacific.

Emerging economies in Latin America and the Middle East & Africa are witnessing a gradual but steady adoption of PTP GM with Multi-GNSS Holdover solutions. While these regions currently contribute a smaller share to the global market, their growth prospects are promising due to ongoing infrastructure modernization and increased awareness of the benefits of precise time synchronization. However, challenges such as limited technical expertise, budget constraints, and regulatory inconsistencies may hinder rapid adoption. Localized demand is often driven by critical sectors such as oil & gas, energy, and defense, where operational continuity and security are paramount. Policy reforms and international partnerships are expected to play a crucial role in overcoming these barriers and unlocking the full potential of the market in these regions.

Report Scope

In 2024, General Motors sold six million vehicles. This compares to around 6.2 million units in 2023, representing a decline of around 3.04 percent year-over-year. Turbulent past years still impact GM GM’s brands include Chevrolet, GMC, Buick, and Cadillac, the first two of which were ranked within the top-eleven automobile manufacturers based on U.S. vehicle sales in the fourth quarter of 2023. Figures revealed a significant industry-wide stagnation two years earlier, in 2021, with industry sales increasing by under two percent compared to 2020. Sales had started to rebound in the fourth quarter of 2020, but the global chip shortage further impacted the sector in 2021, shrinking vehicle production and inventory. These automotive supply chain issues were exacerbated in 2022, amid Russia's invasion of Ukraine. In 2023, General Motors had to contend with the United Auto Workers strike. This strike led to an estimated 4.35 billion U.S. dollars in losses for the Detroit Three manufacturers (General Motors, Stellantis, and Ford), and contributed to shaping GM's year. GM accelerates future-proof innovations With Tesla infamously driving innovation in the field of electric vehicles (EV), General Motors, along with other incumbent car manufacturers, are set to join the fiercely competitive U.S. electric vehicle industry. In 2024, Tesla sold around 633,800 battery-electric vehicle units in the U.S. market. General Motors, however, plans to invest around 20 billion U.S. dollars in its EV product portfolio, including SUVs and pickups, by 2025. As of 2024, General Motors Company is also exploring artificial intelligence technology. To that end, GM partnered with Google in August 2023.

The North American automotive industry, valued at $0.99 million in 2025 (assuming this figure represents a segment of the overall market, not the total), is projected to experience robust growth, driven by several key factors. A Compound Annual Growth Rate (CAGR) of 5.43% from 2025 to 2033 suggests a significant expansion in market size over the forecast period. This growth is fueled by increasing consumer spending on vehicles, particularly in passenger cars and light commercial vehicles, spurred by economic recovery and favorable financing options. The rising adoption of electric and hybrid vehicles, coupled with advancements in autonomous driving technology, represents a significant trend shaping the industry's trajectory. However, challenges remain, including supply chain disruptions which continue to impact production and pricing, rising raw material costs, and evolving consumer preferences that demand greater fuel efficiency and sustainable manufacturing practices. The market segmentation reveals significant variation in growth across vehicle types, with passenger cars and light commercial vehicles potentially outpacing growth in heavier commercial vehicles and two-wheelers due to differing economic sensitivities and technological advancements. Geographic distribution also plays a significant role, with the United States likely dominating the market share given its larger economy and vehicle ownership trends compared to Canada and the rest of North America. Major players like Fiat Chrysler Automobiles, General Motors, Ford, Toyota, and Tesla are strategically positioning themselves to capitalize on these emerging trends, investing heavily in electric vehicle (EV) development, innovative technologies, and sustainable manufacturing. The competitive landscape is fierce, with ongoing mergers, acquisitions, and strategic partnerships shaping the industry's structure. The forecast period will likely witness a consolidation of market share amongst the larger players, potentially leading to some smaller manufacturers exiting the market or being acquired. Furthermore, government regulations promoting clean energy and reducing emissions will significantly impact the industry's product offerings and manufacturing processes in the coming years. The consistent growth projected indicates a positive outlook, but the industry must adapt proactively to the challenges to maintain its momentum. This comprehensive report provides a detailed analysis of the North America automotive industry, encompassing the historical period (2019-2024), base year (2025), and forecast period (2025-2033). The study covers passenger cars, light commercial vehicles (LCVs), medium and heavy commercial vehicles (M&HCVs), and two-wheelers across the United States, Canada, and the Rest of North America. With a focus on market size (in million units), key players, and emerging trends, this report is an essential resource for businesses, investors, and policymakers seeking to understand this dynamic sector. Search terms used include: North America automotive market, automotive industry trends, electric vehicle market, commercial vehicle sales, passenger car sales, US automotive industry, Canadian automotive market. Recent developments include: July 2022: Cadillac unveiled the Celestiq show car, a vision of innovation that previews the brand's future handcrafted and all-electric flagship sedan. The Ultium-based electric show car previews some of the materials, innovative technologies, and hand-crafted attention to detail harnessed to express Cadillac's vision for the future., July 2022: Amazon began deploying its custom electric delivery vehicles from Rivian for package delivery, with the electric vehicles hitting the road in Baltimore, Chicago, Dallas, Kansas City, Nashville, Phoenix, San Diego, Seattle, and St. Louis, among other cities., January 2022: Tesla Inc. had a supply agreement with Talon Metals Corp., a subsidiary of Talon Nickel LLC, for the supply of nickel. This agreement will lead to the production of battery material from mine to battery cathode in order to make the electric vehicle battery more eco-friendly.. Key drivers for this market are: Growing Travel and Tourism Industry is Driving the Car Rental Market. Potential restraints include: Increasing Popularity of Ride-Sharing Services Pose Challenges for the Conventional Car Rental Market. Notable trends are: Rising Electric Mobility to Drive Demand in the Market.

In 2023, the General Motors Company recorded a global water intensity of around five cubic meters per vehicle. This was a decrease of nearly nine percent as compared to the previous year. The global water intensity of GM's vehicles had declined over the past few years. The manufacturer aims to decrease its global water intensity to 3.71 cubic meters per vehicle by 2035.

In the fourth quarter of 2024, General Motors vehicles sold some ******* Chevrolet vehicles in the United States. Chevrolet vehicles had the highest recorded sales among GM's brands in the recorded period. Compared to the fourth quarter of 2023, sales for Cadillac grew by **** percent. Sales for Chevrolet, GMC, and Buick all also increased.

In terms of revenue, Toyota and Volkswagen were the leading automakers worldwide as of June 2025. In terms of vehicle sales, Toyota and Volkswagen are also counted among the most successful automakers worldwide. The emergence of China as an exceptional market Before the coronavirus crisis of 2019-2020, the global automotive industry was hit hard by the financial crisis of 2008-2009, and General Motors declared its roughly ** billion U.S. dollar bankruptcy following the crisis. In 2009, passenger car sales slumped in most markets, except for China, which emerged as the key sales market for passenger cars. The return of the crisis Chinese manufacturers cut the cord from their joint venture partners from other parts of Asia and the Western world a long time ago, and the global automotive industry has begun to feel the impact Chinese motor vehicles and parts manufacturers have. In 2020, the car market was in free-fall again. However, China was also affected this time. The global automotive chip shortage further impacted the industry in 2021 and 2022, leading to a slump in vehicle inventory despite rising demand. By 2023, some improvements were recorded on the global level.

In 2024, Ford remained the leading car brand in the United States based on vehicle sales, delivering about *** million units to U.S. customers. The United States is the largest market for Ford: wholesales to U.S. dealerships reached over *** million vehicles in 2023. Car sales among major manufacturers The top three U.S. car brands are assembled and distributed by the leading manufacturers in the U.S. market: Ford Motor Company, Toyota Motor Corporation, and General Motors (GM). As of the fourth quarter of 2024, GM's largest segment of sales was attributable to its Chevrolet-badged vehicles. Within the Ford Motor Corporation, the Ford division accounted for the largest number of vehicle sales. And finally, Toyota’s largest distribution of this sales volume was attributable to the Toyota brand vehicles. Automotive industry overview Production and sales volumes are declining among the key automotive brands in the United States, as a result of the accelerated automotive semiconductor shortage, the COVID-19 pandemic, and the fact that the automotive manufacturing and sales market is highly competitive both within the U.S. and globally. Electric vehicles emerged as the leading trend in Europe since 2020 and the U.S. electric vehicle industry has been catching up. Furthermore, it is forecast that autonomous vehicles will disrupt the U.S. market between 2020 and 2030.

At about *** million units, the U.S. is the number one sales market for the Ford Motor Company. Globally, sales grew by about ****** units between 2023 and 2024. Slow sales in international markets China is Ford's second-largest market, despite reporting lower sales in 2024. Ford may have been worried about this market, as the United States and China were on the brink of an economic conflict. Tensions remain high as President Biden continues his term in office. The two nations are among the three largest economies in the world. With them is the European Union. There, Ford sales are also under threat. The UK's withdrawal from the European Union disrupts Fords supply chains: three plants operate in the UK, which has now been cut off from assembly locations in the EU. The UK was traditionally Ford's largest market in Europe. Wholesales in the UK came to around ******* units in 2024, and dealerships recorded lower monthly sales of Ford vehicles to end customers in the United Kingdom of Great Britain and Northern Ireland in 2024 when compared to 2019. However, the Ford Puma was the best-selling model in the UK in 2024. Declining domestic market share The Ford Motor Company is among the leading manufacturers in its domestic market, surpassed only by the General Motors Company and Toyota Motor Corporation. This success in the United States' market can be mostly attributed to the manufacturer's eponymous brand, Ford, which was the best-selling brand in the country that year. Its F-Series pickup truck was also among the bestsellers of that type, giving Ford a competitive advantage in its domestic market as light trucks, including pickups, were more popular with consumers than passenger cars.

The Toyota Motor Corporation had ******* employees on the payroll at the end of its 2025 fiscal year. This represents a *** percent increase compared to the previous year when the company employed ******* workers. The fiscal year end of the company is March, 31st. Number of Toyota employees The Toyota Motor Corporation, a Japanese company headquartered in Toyota, Aichi, is one of the world’s leading car manufacturers. The company's main competitors include Hyundai Motor, Volkswagen Group, and General Motors. One of the leading automotive manufacturer based on sales, Volkswagen, has more employees than Toyota: around ******* people worldwide in its 2024 fiscal year. Market leading position The Toyota Motor Corporation is responsible for some of the best-selling car models such as the Corolla or Camry. During the fiscal year ended March 2025, Toyota generated sales and revenue streams of roughly ** trillion Japanese yen. Over half of all Toyota vehicles were sold in Japan or North America. This regional success is reflected in the company's global sales.