GM Profit Shrinks
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Wall Street inched to another record after some mixed profit reports, as General Motors and other big U.S. companies gave updates on how much President Trump's tariffs are hurting or helping them
General Motors said Tuesday it has secured the number two spot in U.S. EV sales behind Tesla, according to CNBC. GM executives said Tuesday the company is focused on improving EV profitability. CFO Paul Jacobson pointed to GM’s mix of gas and electric vehicles as a strategic advantage amid shifting demand.
Even with shares down 12% this year, Tesla Inc. (NASDAQ:TSLA) still carries an out-of-this-world price-to-earnings ratio of 189x. That's not just lofty—it's meme-level. Tesla's Valuation Is Still From Another Planet For context,
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AutoGuide on MSNGM Just Lost More Than A Billion Dollars—Here's WhyThe Detroit giant reported a $1.1 billion year-over-year drop in quarterly revenue.But while the numbers are grim, GM is focusing on the bright spots, including record first-half revenue and growing EV momentum.
Another reason that Cadillac could be a sneaky help to General Motors' EV ambitions is because the administration's tariff policy has a very limited impact on Cadillac. The brand is almost entirely produced in the U.S., with the exception of the Optiq that is produced in Mexico.
General Motors Company (NYSE:GM) is navigating a complex automotive landscape, contending with rising tariffs and significant capital expenditures, yet the company remains steadfast in its projection of $7.
More GM truck owners are reaching out to GM Authority stating that they've been waiting weeks and possibly even months for a fix, with no clear timeframe.
Despite a decrease in overall sales for the year, EVs are shining bright in the lead-up to September’s consumer credit deadline.