Both as 🚗 Companies, Both Earnings Showed 20%, While Cheers👏🏻 and Concerns🙀!

According to the financial reports released by $Ford Motor(F.US)$  and $General Motors(GM.US)$ , in Quarter 1 of 2024, Ford's net profit decreased by more than 20% year-on-year 📉, while General Motors' net profit increased by more than 20% year-on-year 📈.

🏔️ The financial report shows that mainly due to the decline in sales of traditional fuel vehicles, $Ford Motor(F.US)$ operating income in the first quarter of this year only increased by about 3.2% year-on-year to $42.80 billion, and Net Profit decreased by about 24% year-on-year to $1.30 billion. In addition, Ford's electric vehicle department lost $1.30 billion in the first quarter, nearly $600 million higher than the loss in the same period last year.

🌋 $General Motors(GM.US)$ performance in the first quarter of this year exceeded market expectations. Thanks to the strong sales momentum of pickup trucks and other models, General Motors achieved operating income of $43 billion and Net Profit of about $3 billion in the quarter, an increase of 7.6% and about 25% year-on-year, respectively.

Paul Jacobson, $General Motors(GM.US)$ chief financial officer, said the company's electric vehicle sales grew during the quarter, and the company is also producing more power batteries in-house.

Here is a more detailed analysis of GM nowadys news and technical trends. Interested mooer can click to know more: