GM posts mixed Q3 results but upbeat full-year guidance, as tariff exposure improves

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RegExp("[?&]notifications=1(&|#|$)");"desktop"===y&&i&&b.test(window.location.search)&&(i.checked=!0)};ge("ybar-mod-notification",(function(e){var t={isUH3:"crunch"===e.getConfig().ytheme,notifContainer:document.getElementById("notification-container"),notifBadge:document.getElementById("notif-badge"),notifMenu:document.getElementById("ybarNotificationMenu"),notifMenuOpener:document.querySelector("#ybarNotificationMenu + label"),notifDropdown:document.getElementById("notifDropdownContainer"),tooltipContainer:document.querySelector(".".concat($n)),notifLabel:document.querySelector(".".concat(Xn))};t.notifDropdown&&so(e,t)}))}()}};]]>Pras Subramanian · Senior ReporterTue, October 21, 2025 at 12:31 PM GMT+2 3 min readGeneral Motors (GM) reported mixed third quarter earnings before the opening bell on Tuesday but improved its full-year profit outlook, as the biggest of the Detroit Three automakers grapples with President Trump's auto tariffs.GM now sees full-year EBIT in a range of $12.0 billion - $13.0 billion (prior $10 billion to $12.5 billion), with adjusted automotive free cash flow between $10.0 billion - $11.0 billion (prior $7.5 billion and $10 billion), and adjusted EPS diluted of $9.75 - $10.50 ($8.25 - $10.00).GM said its full-year tariff exposure is now seen at around $3.5 billion to $4.5 billion, assuming tariff rates remain the same as well as indirect costs from suppliers. Last spring, the automaker lowered its full-year guidance to include a possible $4 billion to $5 billion impact from auto tariffs.GM also said tariff mitigations were expected to offset 35% of the cost due to a lower tariff base.For the third quarter, GM reported net revenue of $44.26 billion vs $45.18 billion estimated per Bloomberg consensus, on Q3 adjusted EPS of $2.80 vs $2.27 expected. Adjusted EBIT came in at $3.376 billion compared to $2.72 billion estimated.GM said sales-wise its use of incentives was low, with an average of 4% of ATP (average transaction price), compared to the industry average of 6.9%.Earlier in the month GM said Q3 sales hit 710,347, an 8% jump compared with a year ago. The automaker said it was No. 1 in overall sales in the US and snagged its best market share since 2017.Gas-powered vehicles — including its pickup trucks like the Chevrolet Silverado and full-size SUVs like the GMC Yukon — drove the gains. Both categories are poised to lead the industry by the end of the year, GM said.Not surprisingly, GM's EV sales surged in Q3 ahead of the expiration of the $7,500 federal EV tax credit to record of 66,501 units sold in the quarterBut the EV business is expected to throttle down a bit after expiration of the tax credit.The automaker said last week it will take a $1.6 billion charge from a reassessment of its EV plans, with $1.2 billion of the impact being non-cash special charges as a result of adjustments to its EV capacity. The other $400 million in cash is primarily related to contract cancellation fees and commercial settlements associated with EV-related investments, GM said.The other big issue looming for GM is tariff cost exposure.The Chevrolet Silverado EV at the 2024 LA Auto Show on Nov. 22, 2024. (Josh Lefkowitz/Getty Images) · Josh Lefkowitz via Getty ImagesRead more: The latest news and updates on Trump's tariffsIn an effort to combat the effect of tariffs and boost US production, GM committed $4 billion to expand its US manufacturing capabilities.Terms and Privacy PolicyPrivacy & Cookie SettingsMore InfoS&P Futures6,767.50 -6.25 (-0.09%)Dow Futures46,871.00 -42.00 (-0.09%)Nasdaq Futures25,270.25 -35.00 (-0.14%)Russell 2000 Futures2,505.80 -6.10 (-0.24%)VIX18.71 +0.48 (+2.64%)Gold4,279.00 -80.40 (-1.84%)PortfolioSign in to access your portfolioSign inTop gainersCELC Celcuity Inc. 70.58 +18.62 (+35.84%)CLF Cleveland-Cliffs Inc. 16.18 +2.86 (+21.47%)BEAM Beam Therapeutics Inc. 30.62 +4.64 (+17.86%)GRAL GRAIL, Inc. 91.85 +13.85 (+17.76%)NVTS Navitas Semiconductor Corporation 17.10 +2.44 (+16.64%)Top losersOWLS Obook Holdings Inc. 28.80 -10.70 (-27.09%)EXEL Exelixis, Inc. 34.54 -4.71 (-12.00%)QBTS D-Wave Quantum Inc. 34.40 -3.93 (-10.25%)GOF Guggenheim Strategic Opportunities Fund 12.83 -1.26 (-8.94%)GKOS Glaukos Corporation 79.47 -7.70 (-8.83%)Most activeBBAI BigBear.ai Holdings, Inc. 7.46 +0.04 (+0.54%)NVDA NVIDIA Corporation 182.64 -0.58 (-0.32%)BITF Bitfarms Ltd. 4.9800 -0.0300 (-0.60%)PLUG Plug Power Inc. 3.4000 0.0000 (0.00%)NVTS Navitas Semiconductor Corporation 17.10 +2.44 (+16.64%)Earnings eventsMy earnings eventsEarnings eventsTrending tickersBTC-USD Bitcoin USD 108,066.91 -3,036.05 (-2.73%)GSIT GSI Technology, Inc. 12.97 +7.89 (+155.32%)ETH-USD Ethereum USD 3,877.37 -170.84 (-4.22%)NFLX Netflix, Inc. 1,238.56 +39.20 (+3.27%)CLF Cleveland-Cliffs Inc. 16.18 +2.86 (+21.47%)Top economic events