GM Profit Shrinks
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General Motors' profit and revenue declined in its second-quarter but the automaker's results managed to easily top Wall Street's expectations and the company stuck by its full-year financial outlook that it lowered in May.
General Motors Company (NYSE:GM) is navigating a complex automotive landscape, contending with rising tariffs and significant capital expenditures, yet the company remains steadfast in its projection of $7.
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GM Profits Fall Thanks To EVs, Tariffs, WarrantiesGM saw its profits diminish as EVs, tariffs, and warranties whittled away 34.5 percent of the company’s net income. It brought in $1.9 billion in net income, while at the same time gaining a 17.4 percent share of the US car market.
The impacts will be felt more broadly in many industries, and the question is when the choice becomes to preserve profits by raising prices.
Automaker General Motors posted a 12% sales gain through the first half of year while working to mitigate the effects of President Donald Trump's tariffs.