DETROIT, MI (AP)— Vehicles were scarce due to a global shortage of computer chips, but that drove prices up and helped General Motors increase its net income 56 percent last year.
The Detroit automaker said Tuesday that it made $10.02 billion for the full year. And it predicted record pretax earnings in 2022 of $13 billion to $15 billion and net income of $9.4 billion to $10.8 billion.
Excluding one-time items, GM made $7.07 per share for the year, beating analyst estimates of $6.83. Full year revenue of $127 billion fell short of estimates of $128.7 billion.
In the fourth quarter, GM made a $1.7 billion net profit.
