GM Profit Shrinks
Digest more
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.
The Auto Wire on MSN9h
GM Profits Fall Thanks To EVs, Tariffs, Warranties
GM 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.
Analysts said GM may need to cut investment in future projects or find other ways to trim spending to offset the effect of tariffs.