General Motors raised annual adjusted core profit forecast on Tuesday, betting that strong demand for its pickup trucks and SUVs would help counter a hit from US tariffs and the end of a federal incentive for electric vehicles.
The largest US automaker by sales took a previously disclosed $1.6 billion charge in the third quarter, as it reshaped its EV strategy to better navigate a potential dent in demand after the Trump administration scrapped a $7,500 federal tax credit policy.
The company now expects 2025 adjusted core profit to be between $12.0 billion and $13.0 billion, compared with its prior estimate of $10.0 billion and $12.5 billion.
Revenue for the quarter ended September marginally fell to $48.6 billion from a year earlier.
GM’s second-quarter earnings had taken a $1.1 billion hit from tariffs, while the automaker reiterated that trade headwinds threatened to hit the bottom line by $4 billion to $5 billion this year.
