GM Pulls 2025 Profit Guidance Amid Auto Tariff Policy Changes
General Motors (GM) has announced its Q1 earnings, highlighting key developments:
- GM withdrew its 2025 profit guidance due to tariff policies.
- The company is pausing a planned $4 billion share buyback.
- Net income fell by 6.6% from Q4, while revenue rose by 2.3%.
- GM shares initially opened lower but gained up to 2.8% after the White House softened auto industry tariffs.
- The current 25% tariff on auto imports remains, but the 25% metals tariff will not apply.
- Stellantis is scheduled to report earnings tomorrow; Ford's Q1 call is next week.