The company said worldwide net sales and revenues decreased to $33.66 billion in 2024 from $35.13 billion in 2023, and net income decreased to $4.16 billion ($7.90 per diluted share) in 2023 from $4.60 billion ($8.76 per diluted share).

1. 01

   The company said worldwide net sales and revenues decreased to $33.66 billion in 2024 from $35.13 billion in 2023, and net income decreased to $4.16 billion ($7.90 per diluted share) in 2023 from $4.60 billion ($8.76 per diluted share).

2. 02

   Truck net sales and revenues were $24.84 billion in 2024 compared to $26.85 billion in 2023, primarily due to lower truck deliveries in Europe, the company said. Truck gross margin was 13.9% in 2023 compared to 16.4%.

3. 03

   The provision for losses on receivables increased to $75.6 million in 2024 from $31.3 million in 2023, the company said. Accounts 30+ days past due were 1.3% as of December 31, 2024 compared to 1.0% as of December 31, 2023.

4. 04

   Capital investments in 2025 are expected to be $700 to $800 million, and R&D is expected to be $460 to $500 million, the company said. It also expects to invest $400 to $700 million in its battery joint venture, Amplify Cell Technologies.

Key figures

Fiscal year ended December 31, 2024

Revenue

$33.7B

Net income

$4.2B

EPS

$7.90

Operating cash flow

$4.6B

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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