--- title: "GM profit nears record, $50k average transaction price" url: "https://pickuptrucktalk.com/2024/10/gm-profit-nears-record-50k-average-transaction-price/" publisher: "Pickup Truck + SUV Talk" content_signal: "search=yes, ai-input=yes, ai-train=no" author: "Tim Esterdahl" published: "2024-10-25T12:00:06+00:00" modified: "2025-07-23T15:10:07+00:00" image: "https://pickuptrucktalk.com/wp-content/uploads/2024/10/2025-cadillac-escalade-iq-sport-001-copy.jpg" --- # GM profit nears record, $50k average transaction price By Tim Esterdahl Published: 2024-10-25T12:00:06+00:00 Updated: 2025-07-23T15:10:07+00:00 ![Featured image]() GM profit nears record amount just a year after saying it couldn’t afford the UAW agreement for worker pay. Also, the average transaction price for General Motors’ vehicles is now $50,000. ## **GM profit nears record** The [latest earnings report]() from GM reveals the company is turning a profit of $3.4 billion for [2024 Q3 results](). This is up from $3.2 billion a year ago. GM said last year’s results were impacted by the UAW strike lasting more than six weeks. Adjusted earnings for the year have now reached $9.9 billion. Revenue rose more than 10% to $48.8 billion topping investor forecasts by nearly $800 million according to [CNBC.com](). This means GM is now selling vehicles at nearly $50,000 per vehicle. GM said last year’s strike cost the company an estimated [$1.1 billion](). During the long strike, GM argued it couldn’t meet the union wage demands and still turn a profit. The company eventually agreed to the [UAW’s demands]() to give an immediate 11% raise and an additional 14% raise over the next four years. The UAW’s slogan during the strike was record profits should result in record contracts. According to [CNBC.com](), GM CFO Paul Jacobson on Monday told reporters that GM cut costs ahead of the strike in anticipation of pay raises for its unionized workers. In a [prepared letter](), they also said above-average pricing, well-managed inventories and below-average incentives were big drivers for more profit. ## **The bottom line** The roll-out of higher dollar trucks and electric vehicles may not do much for volume, however, they do a lot for profit from those [buying trucks]() and SUVS, and reports like this one prove it. ## Structured page information ~~~json [ { "@context": "https://schema.org", "@graph": [ { "@type": "Article", "@id": "https://pickuptrucktalk.com/2024/10/gm-profit-nears-record-50k-average-transaction-price/#article", "isPartOf": { "@id": "https://pickuptrucktalk.com/2024/10/gm-profit-nears-record-50k-average-transaction-price/" }, "author": { "name": "Tim Esterdahl", "@id": "https://pickuptrucktalk.com/#/schema/person/82b06f99329f69a069a5ab6caed18593" }, "headline": "GM profit nears record, $50k average transaction price", "datePublished": "2024-10-25T12:00:06+00:00", "dateModified": "2025-07-23T15:10:07+00:00", "mainEntityOfPage": { "@id": "https://pickuptrucktalk.com/2024/10/gm-profit-nears-record-50k-average-transaction-price/" }, "wordCount": 279, "commentCount": 0, "publisher": { "@id": "https://pickuptrucktalk.com/#organization" }, "image": { "@id": "https://pickuptrucktalk.com/2024/10/gm-profit-nears-record-50k-average-transaction-price/#primaryimage" }, "thumbnailUrl": "https://pickuptrucktalk.com/wp-content/uploads/2024/10/2025-cadillac-escalade-iq-sport-001-copy.jpg", "keywords": [ "GM profit", "UAW GM", "uaw strike" ], "articleSection": [ "News" ], "inLanguage": "en-US", "potentialAction": [ { "@type": "CommentAction", "name": "Comment", "target": [ "https://pickuptrucktalk.com/2024/10/gm-profit-nears-record-50k-average-transaction-price/#respond" ] } ] }, { "@type": "WebPage", "@id": "https://pickuptrucktalk.com/2024/10/gm-profit-nears-record-50k-average-transaction-price/", "url": "https://pickuptrucktalk.com/2024/10/gm-profit-nears-record-50k-average-transaction-price/", "name": "GM profit nears record, $50k average transaction price", "isPartOf": { "@id": "https://pickuptrucktalk.com/#website" }, "primaryImageOfPage": { "@id": "https://pickuptrucktalk.com/2024/10/gm-profit-nears-record-50k-average-transaction-price/#primaryimage" }, "image": { "@id": "https://pickuptrucktalk.com/2024/10/gm-profit-nears-record-50k-average-transaction-price/#primaryimage" }, "thumbnailUrl": "https://pickuptrucktalk.com/wp-content/uploads/2024/10/2025-cadillac-escalade-iq-sport-001-copy.jpg", "datePublished": "2024-10-25T12:00:06+00:00", "dateModified": "2025-07-23T15:10:07+00:00", "description": "GM profit nears record amount just a year after saying it couldn't afford the UAW agreement for worker pay.", "breadcrumb": { "@id": "https://pickuptrucktalk.com/2024/10/gm-profit-nears-record-50k-average-transaction-price/#breadcrumb" }, "inLanguage": "en-US", "potentialAction": [ { "@type": "ReadAction", "target": [ "https://pickuptrucktalk.com/2024/10/gm-profit-nears-record-50k-average-transaction-price/" ] } ] }, { "@type": "ImageObject", "inLanguage": "en-US", "@id": "https://pickuptrucktalk.com/2024/10/gm-profit-nears-record-50k-average-transaction-price/#primaryimage", "url": "https://pickuptrucktalk.com/wp-content/uploads/2024/10/2025-cadillac-escalade-iq-sport-001-copy.jpg", "contentUrl": "https://pickuptrucktalk.com/wp-content/uploads/2024/10/2025-cadillac-escalade-iq-sport-001-copy.jpg", "width": 1200, "height": 811, "caption": "GM profit nears record thanks to higher transaction prices like with this Cadillac Escalade IQ starting at $130,000. 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