General Motors reported a $1.1 billion profit hit from tariffs, revealing a 2% sales drop to $47 billion and quarterly profits of $1.9 billion, down from $2.9 billion the previous year. Anticipating the effects of President Trump's tariffs, GM withdrew its annual guidance and expects losses of up to $5 billion. Despite plans for a $4 billion investment in domestic manufacturing, GM's dependency on imported compact cars remains a vulnerability. CEO Mary Barra emphasized the need for adaptation to new trade policies and technological advancements.
General Motors reported over $1 billion reduction in profits due to tariff costs. The company showed a 2% sales dip to $47 billion and $1.9 billion in quarterly profits.
CEO Mary Barra stated that GM is positioning the business for future profitability amid the impacts of tariffs and changes in trade policies while adapting to a tech-driven market.
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