General Motors SEC 10K 2013
I. Background and Industry
General Motors, along with its competitors, are part of the Automotive Manufacturer (Major) industry of the Consumer Goods economic sector. Companies in this industry make passenger cars and light trucks, as well as chassis for those vehicles. Demand is driven by employment and interest rates while the profitability of the individual company depends on manufacturing efficiency, product quality, and affective marketing. Large companies have economies of scale in purchasing and marketing while smaller companies can compete by focusing on specialized markets. The U.S. industry alone is highly concentrated with the top four companies account for about 75 percent of sales.
General Motors …show more content…
F. Net Income
For the last three years, General Motors’ Net Income has been decreasing, from $9,190 million in 2011 to $6,188 million in 2012, a decrease of 32.67%. Net income further decreased by 13.61% from 2012 to 2013, $6,188 million to $5,346 million, respectively. Although Ford Motors Co. had an increase in Net Income of 26% from 2012 to 2013, the company took a major dive from 2011 to 2012, cutting net income by 356%, $20,213 million to $5,665 million. Net income almost tripled for Toyota from fiscal year 2012 to 2013, going from $3,446 million to $10,217 million.
GENERAL MOTORS COMPANY AND SUBSIDIARIES
CONSOLIDATED INCOME STATEMENTS
(In millions, except per share amounts)
Years Ended December 31, 2013 2012 2011
Net sales and revenue
Costs and expenses
Automotive cost of sales
GM Financial operating and other expenses
Automotive selling, general and administrative expense