---
title: "General Motors: Business Model"
description: "General Motors revenue by business segment from its fiscal 2025 Form 10-K, with each part's share, growth and profitability explained."
canonical: https://www.getswoopr.com/stocks/companies/general-motors/business-model/
source: "Swoopr Investment: https://www.getswoopr.com"
---

# General Motors: Business Model & Revenue Engine

## Direct Answer

General Motors reports revenue across 4 business segments in its fiscal 2025 Form 10-K. GM North America is the largest, with $154 billion of revenue (83% of the total), followed by GM Financial at $17.1 billion (9%).

## How Does General Motors Make Money?

GM North America supplies 83% of revenue, so General Motors's results move mostly with that one business; the others matter more for diversification than for the headline number. Between fiscal 2024 and 2025, GM Financial grew fastest (+7.5%) and Cruise slowest (-99.6%), so the revenue mix tilts toward GM Financial while that gap lasts.

| Segment | FY2025 revenue | FY2024 revenue | Share of revenue | Change |
| --- | --- | --- | --- | --- |
| GM North America | $154 billion | $158 billion | 83.4% | -2.0% |
| GM Financial | $17.1 billion | $15.9 billion | 9.2% | 7.5% |
| GMI | $13.4 billion | $13.9 billion | 7.3% | -3.3% |
| Cruise | $1 million | $257 million | 0.0% | -99.6% |

![Bar chart of General Motors revenue by segment for fiscal 2025: GM North America 83.4%, GM Financial 9.2%, GMI 7.3%, Cruise 0.0%.](https://www.getswoopr.com/images/charts/general-motors-business-model-segment-mix.webp)
*General Motors revenue by segment as a share of total revenue, from the table above. The largest is highlighted. Select the chart to open it full size.*

## What Does General Motors Sell?

General Motors also breaks revenue down by product and service line, which shows what customers pay for rather than how management organizes the business.

| Product or service | FY2025 revenue | FY2024 revenue | Share of revenue | Change |
| --- | --- | --- | --- | --- |
| Vehicles and Parts | $161 billion | $165 billion | 86.8% | -2.8% |
| Services and Other | $5.7 billion | $5.1 billion | 3.1% | 11.2% |
| Used Vehicles | $1.7 billion | $1.3 billion | 0.9% | 34.7% |

## What the Segment Figures Do Not Show

The rows above add up to 100% of General Motors's reported revenue for fiscal 2025; the difference is intersegment eliminations, corporate revenue or items the company reports outside its segments. Segment definitions are management's choice and change when a company reorganizes, in which case it restates prior years in the next filing, so a multi-year comparison should use the figures from a single filing. Revenue shows where sales come from, not where profit or cash is earned: a small segment can carry most of the margin.

## Where These Numbers Come From

Every figure on this page is a value General Motors reported in the segment note and revenue disclosures of its Form 10-K filed January 27, 2026 (accession 0001467858-26-000013), read from the SEC's Financial Statement Data Sets. The prior-year column is the comparative figure from that same filing, so it reflects any restatement for a change in segments. Category names are the company's own XBRL labels, lightly reformatted for reading.

Rows that only total other rows (for example a "Products" line beside the individual products) are left out so nothing is counted twice. This page is educational and describes reported history for fiscal 2025; it is not a forecast or a recommendation.

## Frequently Asked Questions

### What are General Motors's business segments?

In its fiscal 2025 Form 10-K, General Motors reports revenue for GM North America, GM Financial, GMI and Cruise.

### Which part of General Motors brings in the most revenue?

GM North America, with $154 billion of revenue in fiscal 2025, or 83% of the total.

### Where does General Motors report its segment results?

In the segment note to the financial statements in its Form 10-K, most recently filed January 27, 2026, alongside management's discussion of each segment's results.

## References

- [SEC EDGAR: General Motors Co Form 10-K filed January 27, 2026](https://www.sec.gov/Archives/edgar/data/1467858/000146785826000013/gm-20251231.htm)
- [SEC EDGAR: General Motors Co annual and quarterly filings](https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1467858&type=10-K)
- [SEC: EDGAR application programming interfaces (XBRL frames and submissions data)](https://www.sec.gov/search-filings/edgar-application-programming-interfaces)
- [SEC: Financial Statement Data Sets](https://www.sec.gov/data-research/sec-markets-data/financial-statement-data-sets)

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**[Swoopr Editorial Team](https://www.getswoopr.com/authors/swoopr-editorial-team/)**

Swoopr's editorial team produces independent investment education content reviewed for accuracy and clarity. We do not provide personalized financial advice. See our [editorial policy](https://www.getswoopr.com/legal/editorial-policy/) and [corrections policy](https://www.getswoopr.com/legal/corrections-policy/).