General Motors, tariff
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Despite a decrease in overall sales for the year, EVs are shining bright in the lead-up to September’s consumer credit deadline.
General Motors’ profit and revenue declined in its second-quarter but the automaker’s results managed to easily top Wall Street’s expectations and the company stuck by its full-year financial outlook that it lowered in May.
JB Straubel, founder and CEO of Redwood, added: “Both GM’s second-life EV batteries and new batteries can be deployed in Redwood’s energy storage systems, delivering fast, flexible power solutions and strengthening America’s energy and manufacturing independence.”
General Motors is the latest U.S. auto giant to say tariffs have taken a chunk from their earnings. The company beat earnings expectations on Tuesday, but reported a decline in second-quarter profits, including a $1.1 billion hit as a result of hefty import taxes.
GM is set to launch a series of updates for the Super Cruise hands-free driver assist system in conjunction with the 2026 MY, including Google Maps integration.
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 (NYSE:GM) reported adjusted EPS of $2.53, topping analysts' $2.45 estimate, but revenue declined 1.8% year?on?year to $47.12 billion. The sales drop in key North American and China markets raised questions about demand resilience.
GM warned the toll could grow in the second half of the year, reiterating its previous estimate of a $4 billion to $5 billion hit for the year. Shares dropped 7% during the day, even as the company's adjusted earnings per share of $2.