business / news / / Bnn Bloomberg
Detroit automaker reported earnings before interest and taxes of US$4.3 billion.
GM raised its 2026 profit outlook by $500 million, expecting a tariff refund after a Supreme Court ruling.
KEY POINTS
- First-quarter net income fell 6% due to a $1.1 billion charge related to slowing EV programs.
- North American profit margin rose to 10.1% despite a 10% sales decline in the first quarter.
- Equity income from GM's China operations jumped to $165 million from $45 million a year ago.
- GM's EV sales dropped 43% in the last quarter of 2023 amid policy-driven demand weakening.
COMPANIES
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