GM Withdraws Profit Forecast Amidst Tariff Uncertainty
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GM reported a 7% decline in first-quarter profits to $2.8 billion, primarily due to a 14% drop in North American earnings. The company withdrew its previous $11.2-$12.5 billion net income projection for 2025, citing uncertainty surrounding US tariffs on imported cars, steel, and aluminum. While tariffs minimally impacted Q1 results, GM anticipates future effects and is in discussions with the Trump administration for clarity.
GM reported a 7% decline in first-quarter profits to $2.8 billion, primarily due to a 14% drop in North American earnings. The company withdrew its previous $11.2-$12.5 billion net income projection for 2025, citing uncertainty surrounding US tariffs on imported cars, steel, and aluminum. While tariffs minimally impacted Q1 results, GM anticipates future effects and is in discussions with the Trump administration for clarity.
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