A cavalcade of vehicles full of striking auto workers exit a GM factory in Belleville, Michigan, the United States, on Sept. 22, 2023. (Photo by Val Waller/Xinhua)
The average transaction price of a GM vehicle in the quarter in the United States was 50,750 dollars, down slightly from the second quarter.
CHICAGO, Oct. 24 (Xinhua) -- General Motors Company announced on Tuesday that its net income in the third quarter of this year was 3.1 billion U.S. dollars, down 7 percent year on year.
GM's revenue in the third quarter increased 5.4 percent from a year ago to 44.13 billion dollars, while the operating profits declined 16.9 percent from the third quarter of 2022 to 3.56 billion dollars, The Detroit News reported Tuesday.
GM's adjusted earnings in North America declined 9.5 percent in the third quarter from a year earlier to 3.53 billion dollars. However, its international operations earnings increased by roughly 7 percent to 357 million dollars.
The average transaction price of a GM vehicle in the quarter in the United States was 50,750 dollars, down slightly from the second quarter.
"It's been clear coming out of COVID that wages and benefits across the U.S. economy would need to increase because of inflation and other factors," GM CEO Mary Barra said in a letter to shareholders with regard to the UAW strike. "The current offer is the most significant that GM has ever proposed to the UAW, and the majority of our workforce will make 40.39 dollars per hour, or roughly 84,000 dollars a year by the end of this agreement's term."
"It's an offer that rewards our team members but does not put our company and their jobs at risk. Accepting unsustainably high costs would put our future and GM team member jobs at risk, and jeopardizing our future is something I will not do," Barra said.
The UAW on Tuesday spread its strike against the Big Three U.S. automakers to GM's full-size SUV plant in Arlington, U.S. state of Texas, as its strike against the U.S. Big Three enters the 40th day.
The plant builds GM's most expensive vehicles such as the Chevrolet Tahoe and Suburban, the GMC Yukon and Yukon XL and the Cadillac Escalade and Escalade-V. ■