General Motors (GM) reported a 25% increase in net income for the first quarter of 2023, despite a slight dip in overall U.S. vehicle sales. This growth was driven by strong deliveries of pickup trucks and other higher-profit vehicles. The company’s average sales price per vehicle remained stable at nearly $50,000, as pickup sales remained strong. GM’s performance exceeded Wall Street estimates, with earnings per share reaching $2.62. The company also raised its full-year net income guidance to a range of $10.1 billion to $11.5 billion. However, GM expects prices to decline by 2% to 2.5% over the full year, although no significant decline has been observed yet. Electric vehicle sales increased during the quarter, and GM is producing more of its own batteries. The company aims for a mid single-digit profit margin on EVs next year.