Recent research highlights the significant digital presence of African American consumers, who dedicate an impressive amount of time engaging with mobile applications and websites. This demographic spends considerably more hours on their smart devices compared to the overall U.S. population. Additionally, traditional radio maintains a strong weekly reach among Black adults, matching that of connected television platforms. These findings come from Nielsen's latest Diverse Intelligence Series report, offering insights into media consumption patterns.
The study reveals that African Americans are highly active in the digital space, dedicating 32 hours per week to smartphone and tablet activities. This exceeds the national average by two hours, indicating a robust engagement with digital content. The increased usage spans various applications and web services, reflecting the community's affinity for staying connected through these platforms. Such extensive interaction suggests a deep integration of technology into daily life for this demographic.
Traditional media forms continue to hold considerable sway over African American audiences as well. Radio, in particular, demonstrates enduring popularity, reaching an audience comparable to that of connected TV. Each week, both media types engage approximately 27.4 million Black adults. This parity underscores the ongoing relevance of radio in delivering content to this segment of the population. The resilience of radio indicates its value as a reliable source of information and entertainment.
Beyond the numbers, these trends highlight the evolving media landscape and the preferences of African American consumers. The substantial time spent on digital devices points to a generation increasingly reliant on technology for communication, entertainment, and information. Meanwhile, the consistent reach of radio suggests a blend of old and new media remains crucial for effectively engaging this audience. Understanding these dynamics is vital for marketers and content creators aiming to connect with African American consumers.
An eagerly awaited automotive event is set to return to Geneva, albeit in a more modest format. From March 7 to 9, autoXpérience Genève will present approximately 200 new vehicles from 30 distinct manufacturers. This scaled-down exhibition aims to offer enthusiasts and potential buyers an opportunity to explore, compare, test drive, and purchase their next vehicle. The organizers have also planned engaging activities such as racing simulators and interactive zones for children.
According to the co-organizer of the event, this new incarnation is not a direct continuation of the traditional Geneva Motor Show. Instead, it focuses on supporting local dealerships, which have felt the impact of the show's absence over recent years. The organizers hope to attract around 10,000 visitors. Historically, the Geneva International Motor Show has been a significant fixture in the city since its inception in 1905. However, due to unforeseen circumstances like the pandemic, several editions were canceled, leading to the eventual closure of the iconic event.
The revival of the motor show, even in a smaller format, signifies the resilience of the automotive industry and the enduring interest in showcasing new models. It highlights the importance of adapting to changing times while maintaining a commitment to innovation and customer engagement. This event underscores the ongoing evolution of the automobile sector and its dedication to meeting the needs of both consumers and businesses alike.
General Motors (GM) has reported significant strides in its electric vehicle (EV) business, despite facing various challenges. The company's financial performance for 2024 highlighted both successes and setbacks. GM saw a substantial increase in EV sales towards the end of the year, with an impressive fourth-quarter surge. However, restructuring charges in China led to a net loss. Despite these hurdles, GM remains optimistic about achieving profitability in its EV segment by 2025, forecasting a decline in operating losses and increased market share.
Progress in Electric Vehicle Sales and Market Position
GM demonstrated considerable progress in its EV sales trajectory during 2024. While it fell short of its target of producing and selling 200,000 electric vehicles in North America, the company managed to deliver 189,000 units. A notable highlight was the steady growth in quarterly sales, which climbed from 16,400 units in the first quarter to 44,000 units in the fourth quarter. This upward trend contributed to a significant increase in market share, rising from 6.5% to 12.5% in the US market. The company’s ability to ramp up production and meet growing demand underscores its commitment to expanding its presence in the EV sector.
The rise in sales volume also brought positive financial outcomes. By the end of 2024, GM had surpassed fixed costs associated with electric vehicle production, signaling a turning point in the profitability of this segment. Additionally, inventory levels dropped significantly, from 100 days' worth of stock at the end of September to just 70 days by year-end. This reduction indicates improved supply chain management and better alignment between production and consumer demand. CFO Paul Jacobson emphasized that these improvements were crucial in positioning GM for sustained growth in the EV market.
Navigating Financial and Trade Challenges
In spite of the positive developments in EV sales, GM faced several financial and trade-related challenges. The company reported a net loss of $3 billion for 2024, primarily due to restructuring charges in China totaling $4 billion. Despite this setback, GM’s fourth-quarter revenue reached $47.7 billion, surpassing analysts’ expectations. Pre-tax profits amounted to $2.5 billion, reflecting the company’s overall financial resilience. However, concerns over potential tariffs on raw materials and imports from Canada and Mexico added uncertainty to GM’s outlook.
To mitigate the impact of potential tariffs, GM is actively preparing by accelerating deliveries from its stock in Mexico and Canada to the US market. According to CFO Jacobson, securing as many vehicles as possible before any tariffs are imposed is a strategic move to minimize financial losses. Analysts have described GM’s forecast of a net profit between $11.2 and $11.5 billion in 2025 as optimistic, although slightly higher than the expected $10.8 billion. The company’s proactive approach to navigating trade challenges and improving operational efficiency positions it well for future success in the competitive EV landscape.