General Motors reported a higher fourth-quarter core profit on Tuesday, helped by stronger sales of its affordable crossover SUVs and pickup trucks through the year.
Its pre-tax earnings on an adjusted basis rose about 13 per cent to $2.84 billion compared with about $2.51 billion a year ago.
The company said it expects an annual adjusted core profit of $13 billion to $15 billion, a range whose midpoint exceeded analysts’ expectation of $13.39 billion, according to LSEG data.
GM’s net income was impacted by a $6 billion charge due to the electric-vehicle pullback. A big share of the charge is tied to contract cancellations and settlements with suppliers, who had planned for much higher production volumes before the market turned.
The company, however, was optimistic for 2026 as it backed its EV strategy, raised its quarterly dividend payout by 20 per cent and approved a new $6 billion share buyback program.
Its overall quarterly revenue fell by 5.1 per cent to about $45.3 billion from a year ago.>
