Market Overview - US stock index futures showed mixed movements with Dow futures up 0.08% and S&P 500 futures up 0.03%, while Nasdaq futures fell 0.05% [1] - European indices also experienced gains, with Germany's DAX up 0.17%, UK's FTSE 100 up 0.30%, France's CAC40 up 0.55%, and the Euro Stoxx 50 up 0.26% [2][3] - WTI crude oil rose by 0.79% to $57.47 per barrel, and Brent crude oil increased by 0.67% to $61.42 per barrel [3][4] Market Sentiment - The recent rebound in US stocks is attributed to short covering rather than genuine investor confidence, indicating a potential "false prosperity" [5] - Concerns about the US credit market tightening could lead to forced selling by pension funds, which may trigger a significant market downturn [5] - Allianz's chief economist noted that the current AI investment boom is a "rational bubble" that could help the US outperform global markets [5] Federal Reserve Insights - Wall Street analysts predict that the Federal Reserve may announce the end of its balance sheet reduction plan in the upcoming meeting, which could stabilize monetary policy [6] - Recent market fluctuations have led to increased use of the Fed's repurchase agreement tool, indicating liquidity concerns [6] Individual Company Performance - General Motors (GM) reported Q3 revenue of $48.59 billion, exceeding expectations of $45.26 billion, and raised its full-year EPS guidance to $9.75-$10.50 [7][8] - Coca-Cola (KO) posted Q3 revenue of $12.46 billion, surpassing the expected $12.41 billion, and reaffirmed its 2025 guidance [8] - GE Aerospace's Q3 revenue increased by 24% to $12.18 billion, driven by strong performance in its commercial engine business [8] - Zion Bank's Q3 profit exceeded expectations, with revenue of $872 million, indicating that credit pressure in regional banks may be isolated incidents [8] - DocGo's stock surged nearly 27% following its acquisition of virtual healthcare platform SteadyMD [8] Upcoming Earnings Reports - Notable earnings reports expected include Netflix, Texas Instruments, and Alliance West Bank on Wednesday morning, and Barclays, Teck Resources, and AT&T before market open [10]

Core Insights - Premarket trading is showing notable activity with significant price movements indicating potential trading opportunities before the market opens [1] Premarket Gainers - AlphaVest Acquisition Corp (ATMV) is up 71% at $14.24 [3] - BranchOut Food Inc. (BOF) is up 44% at $3.04 [3] - rYojbaba Co., Ltd. (RYOJ) is up 35% at $5.14 [3] - GSI Technology, Inc. (GSIT) is up 25% at $16.24 [3] - Jowell Global Ltd. (JWEL) is up 18% at $2.02 [3] - General Motors Company (GM) is up 9% at $63.68 [3] - Crown Holdings, Inc. (CCK) is up 8% at $103.00 [3] - Spero Therapeutics, Inc. (SPRO) is up 8% at $2.49 [3] - Sunrun Inc. (RUN) is up 6% at $21.90 [3] - Foxx Development Holdings Inc. (FOXX) is up 5% at $4.50 [3] Premarket Losers - Neuphoria Therapeutics Inc. (NEUP) is down 66% at $5.19 [4] - New Era Energy & Digital, Inc. (NUAI) is down 9% at $5.09 [4] - Odyssey Marine Exploration, Inc. (OMEX) is down 8% at $3.28 [4] - Carbon Revolution Public Limited Company (CREV) is down 7% at $4.86 [4] - Coeur Mining, Inc. (CDE) is down 7% at $20.38 [4] - Hecla Mining Company (HL) is down 6% at $13.50 [4] - Verrica Pharmaceuticals Inc. (VRCA) is down 6% at $4.12 [4] - Sensei Biotherapeutics, Inc. (SNSE) is down 5% at $10.06 [4] - Whitehawk Therapeutics, Inc. (WHWK) is down 5% at $2.52 [4] - Greenidge Generation Holdings Inc. (GREE) is down 5% at $2.07 [4]

[Executive Summary & Guidance](index=1&type=section&id=Executive%20Summary%20%26%20Guidance) This section summarizes General Motors' third-quarter 2025 financial results and updated full-year guidance [Third-Quarter 2025 Financial Highlights](index=1&type=section&id=Third-Quarter%202025%20Financial%20Highlights) General Motors reported its third-quarter 2025 financial results, with **revenue of $48.6 billion**, **net income attributable to stockholders of $1.3 billion**, and **EBIT-adjusted of $3.4 billion** Third-Quarter 2025 Financial Highlights | Metric | Amount (Billions) | | :-------------------------------- | :---------------- | | Revenue | $48.6 | | Net income attributable to stockholders | $1.3 | | EBIT-adjusted | $3.4 | [Full-Year 2025 Guidance Update](index=1&type=section&id=Full-Year%202025%20Guidance%20Update) GM updated its full-year 2025 earnings guidance, revising EBIT-adjusted and adjusted automotive free cash flow upwards, while narrowing the range for net income attributable to stockholders and EPS-diluted Full-Year 2025 Guidance Update | Metric | Updated 2025 Guidance | Previous 2025 Guidance | | :-------------------------------- | :-------------------- | :--------------------- | | Net income attributable to stockholders | $7.7 billion - $8.3 billion | $7.7 billion - $9.5 billion | | EBIT-adjusted | $12.0 billion - $13.0 billion | $10.0 billion - $12.5 billion | | Automotive operating cash flow | $19.2 billion - $21.2 billion | $17.0 billion - $20.5 billion | | Adjusted automotive free cash flow | $10.0 billion - $11.0 billion | $7.5 billion - $10.0 billion | | EPS-diluted | $8.30 - $9.05 | $8.22 - $9.97 | | EPS-diluted-adjusted | $9.75 - $10.50 | $8.25 - $10.00 | [Conference Call Information](index=1&type=section&id=Conference%20Call%20Information) GM's Chair and CEO Mary Barra and CFO Paul Jacobson hosted a conference call for the investment community to discuss the third-quarter results - Conference call for investors and analysts was held at **8:30 a.m. ET on October 21, 2025**[3](index=3&type=chunk) - Audio replay will be available on the GM Investor Relations website[5](index=5&type=chunk) [Consolidated Financial Results](index=2&type=section&id=Consolidated%20Financial%20Results) This section details General Motors' consolidated financial performance, covering income statement, balance sheet, and cash flow information [Results Overview (GAAP)](index=2&type=section&id=Results%20Overview%20%28GAAP%29) A comparative overview of key financial metrics for the three months ended September 30, 2025, shows significant declines in net income, EBIT-adjusted, and EPS-diluted compared to the prior year Results Overview (GAAP) | Metric | Sep 30, 2025 ($M) | Sep 30, 2024 ($M) | Change ($M) | % Change | | :-------------------------------- | :------------------ | :------------------ | :---------- | :--------- | | Revenue | 48,591 | 48,757 | (166) | (0.3)% | | Net income attributable to stockholders | 1,327 | 3,056 | (1,729) | (56.6)% | | EBIT-adjusted | 3,376 | 4,115 | (739) | (18.0)% | | Net income margin | 2.7 % | 6.3 % | (3.6) ppts | (57.1)% | | EBIT-adjusted margin | 6.9 % | 8.4 % | (1.5) ppts | (17.9)% | | Automotive operating cash flow | 6,070 | 7,863 | (1,793) | (22.8)% | | Adjusted automotive free cash flow | 4,201 | 5,834 | (1,633) | (28.0)% | | EPS-diluted | 1.35 | 2.68 | (1.33) | (49.6)% | | EPS-diluted-adjusted | 2.80 | 2.96 | (0.16) | (5.4)% | | GMNA EBIT-adjusted | 2,506 | 3,982 | (1,476) | (37.1)% | | GMI EBIT-adjusted | 226 | 42 | 184 | n.m. | | China equity income (loss) | 80 | (137) | 217 | n.m. | | GM Financial EBT-adjusted | 804 | 687 | 117 | 17.0 % | [Combining Income Statement Information](index=5&type=section&id=Combining%20Income%20Statement%20Information) This section details General Motors' income statement performance for the three and nine months ended September 30, 2025, compared to the prior year [Three Months Ended September 30, 2025 vs 2024](index=5&type=section&id=Three%20Months%20Ended%20September%2030%2C%202025%20vs%202024) For the third quarter of 2025, combined total net sales and revenue slightly decreased by **0.3% to $48.6 billion**, with Automotive revenue at **$44.3 billion** and GM Financial revenue at **$4.3 billion**. Operating income saw a significant decline to **$1.1 billion** from **$3.7 billion** in the prior year Three Months Ended September 30, 2025 vs 2024 | Metric | Sep 30, 2025 ($M) | Sep 30, 2024 ($M) | | :-------------------------------- | :------------------ | :------------------ | | Total net sales and revenue | 48,591 | 48,757 | | Total costs and expenses | 47,515 | 45,105 | | Operating income (loss) | 1,076 | 3,651 | | Income (loss) before income taxes | 1,419 | 3,717 | | Net income (loss) attributable to stockholders | 1,327 | 3,056 | [Nine Months Ended September 30, 2025 vs 2024](index=6&type=section&id=Nine%20Months%20Ended%20September%2030%2C%202025%20vs%202024) For the nine months ended September 30, 2025, combined total net sales and revenue remained stable at **$139.7 billion**. Operating income decreased to **$6.6 billion** from **$11.3 billion** in the prior year, and net income attributable to stockholders declined to **$6.0 billion** from **$9.0 billion** Nine Months Ended September 30, 2025 vs 2024 | Metric | Sep 30, 2025 ($M) | Sep 30, 2024 ($M) | | :-------------------------------- | :------------------ | :------------------ | | Total net sales and revenue | 139,732 | 139,740 | | Total costs and expenses | 133,177 | 128,478 | | Operating income (loss) | 6,555 | 11,262 | | Income (loss) before income taxes | 7,366 | 11,076 | | Net income (loss) attributable to stockholders | 6,007 | 8,969 | [Basic and Diluted Earnings per Share](index=7&type=section&id=Basic%20and%20Diluted%20Earnings%20per%20Share) Basic and diluted EPS for Q3 2025 were **$1.37** and **$1.35** respectively, significantly lower than Q3 2024. Year-to-date EPS also saw a decline, with diluted EPS at **$6.64** for the nine months ended September 30, 2025, compared to **$7.77** in the prior year Basic and Diluted Earnings per Share | Metric | Three Months Ended Sep 30, 2025 | Three Months Ended Sep 30, 2024 | Nine Months Ended Sep 30, 2025 | Nine Months Ended Sep 30, 2024 | | :-------------------------------- | :------------------------------ | :------------------------------ | :----------------------------- | :----------------------------- | | Basic earnings per common share | $1.37 | $2.71 | $6.75 | $7.85 | | Diluted earnings per common share | $1.35 | $2.68 | $6.64 | $7.77 | - Potentially dilutive securities were excluded from diluted EPS computation due to their antidilutive effect[18](index=18&type=chunk) [Combining Balance Sheet Information](index=8&type=section&id=Combining%20Balance%20Sheet%20Information) Total assets increased to **$288.2 billion** as of September 30, 2025, from **$279.8 billion** at December 31, 2024, driven by increases in current assets and non-current assets across segments. Total liabilities also increased to **$219.8 billion** from **$214.2 billion** Combining Balance Sheet Information | Metric | Sep 30, 2025 ($M) | Dec 31, 2024 ($M) | | :-------------------------------- | :------------------ | :------------------ | | Total Assets | 288,168 | 279,761 | | Total Liabilities | 219,766 | 214,171 | | Total Equity | 68,402 | 65,590 | [Combining Cash Flow Information](index=11&type=section&id=Combining%20Cash%20Flow%20Information) Net cash provided by operating activities for the nine months ended September 30, 2025, was **$20.1 billion**, an increase from **$16.0 billion** in the prior year. Net cash used in investing activities increased to **$12.5 billion**, while net cash used in financing activities decreased to **$4.6 billion** Combining Cash Flow Information | Cash Flow Activity | Nine Months Ended Sep 30, 2025 ($M) | Nine Months Ended Sep 30, 2024 ($M) | | :-------------------------------- | :------------------------------------ | :------------------------------------ | | Net cash provided by (used in) operating activities | 20,072 | 15,989 | | Net cash provided by (used in) investing activities | (12,473) | (14,004) | | Net cash provided by (used in) financing activities | (4,591) | 2,963 | | Net increase (decrease) in cash, cash equivalents and restricted cash | 3,246 | 4,798 | | Cash, cash equivalents and restricted cash at end of period | 26,210 | 26,715 | [Segment-Level Key Financial Information](index=13&type=section&id=Segment-Level%20Key%20Financial%20Information) This section details General Motors' financial performance across its key operating segments: GMNA, GMI, Cruise, and GM Financial [Segment Performance Summary](index=13&type=section&id=Segment%20Performance%20Summary) GMNA's net sales and revenue slightly decreased in Q3 2025 but increased year-to-date. GMI's net sales and revenue increased in both Q3 and YTD periods. Cruise continued to show operating losses, while GM Financial demonstrated growth in net sales and revenue Segment Performance Summary **Three Months Ended September 30:** | Metric | GMNA ($M) | GMI ($M) | Cruise ($M) | GM Financial ($M) | Total ($M) | | :-------------------------- | :---------- | :--------- | :---------- | :---------------- | :--------- | | Net sales and revenue (2025) | 40,551 | 3,645 | — | 4,337 | 48,591 | | Net sales and revenue (2024) | 41,157 | 3,517 | 26 | 4,031 | 48,757 | | Impairment charges (2025) | 1,044 | — | — | — | 1,044 | | Equity income (loss) (2025) | 214 | 83 | — | 9 | 290 | | Equity income (loss) (2024) | 309 | (132) | — | 10 | 187 | **Nine Months Ended September 30:** | Metric | GMNA ($M) | GMI ($M) | Cruise ($M) | GM Financial ($M) | Total ($M) | | :-------------------------- | :---------- | :--------- | :---------- | :---------------- | :--------- | | Net sales and revenue (2025) | 117,424 | 9,398 | 1 | 12,756 | 139,732 | | Net sales and revenue (2024) | 117,981 | 9,897 | 76 | 11,761 | 139,740 | | Impairment charges (2025) | 1,044 | 18 | — | — | 1,063 | | Impairment charges (2024) | — | — | 605 | — | 605 | | Equity income (loss) (2025) | 469 | 208 | — | 37 | 684 | | Equity income (loss) (2024) | 766 | (343) | — | 55 | 477 | - Automotive China joint ventures (JVs) equity income was **$80 million** in Q3 2025, a significant improvement from a loss of **$(137) million** in Q3 2024[33](index=33&type=chunk) - Equity earnings related to Ultium Cells Holdings LLC were **$213 million** in Q3 2025, down from **$309 million** in Q3 2024[34](index=34&type=chunk) [Non-GAAP Financial Measures and Reconciliations](index=14&type=section&id=Non-GAAP%20Financial%20Measures%20and%20Reconciliations) This section defines and reconciles General Motors' non-GAAP financial measures, clarifying their calculation and purpose in performance assessment [Non-GAAP Measures Definitions](index=14&type=section&id=Non-GAAP%20Measures%20Definitions) This section defines and explains the purpose and calculation methodology for various non-GAAP financial measures used by GM, including EBIT-adjusted, EPS-diluted-adjusted, ETR-adjusted, ROIC-adjusted, and adjusted automotive free cash flow, emphasizing their use for operational and financial decision-making and performance assessment - Non-GAAP measures are used for operational and financial decision making, to assess Company and segment business performance, and to understand operating trends without regard to items not considered core operating performance[35](index=35&type=chunk)[36](index=36&type=chunk) - EBIT-adjusted excludes automotive interest income, automotive interest expense, income taxes, and certain additional adjustments not considered part of core operations[37](index=37&type=chunk) - Adjusted automotive free cash flow measures the liquidity of automotive operations and performance against capital allocation programs[41](index=41&type=chunk) [EBIT-Adjusted Reconciliation](index=15&type=section&id=EBIT-Adjusted%20Reconciliation) The reconciliation from Net income attributable to stockholders to EBIT-adjusted for Q3 2025 shows a decrease to **$3.4 billion** from **$4.1 billion** in Q3 2024, primarily due to significant adjustments related to EV strategic realignment and OnStar Smart Driver investigations EBIT-Adjusted Reconciliation | Metric | Three Months Ended Sep 30, 2025 ($M) | Three Months Ended Sep 30, 2024 ($M) | Nine Months Ended Sep 30, 2025 ($M) | Nine Months Ended Sep 30, 2024 ($M) | | :-------------------------------- | :----------------------------------- | :----------------------------------- | :---------------------------------- | :---------------------------------- | | Net income attributable to stockholders | 1,327 | 3,056 | 6,007 | 8,969 | | Income tax expense (benefit) | 127 | 709 | 1,326 | 2,238 | | Automotive interest expense | 209 | 206 | 560 | 631 | | Automotive interest income | (220) | (274) | (611) | (688) | | Total adjustments | 1,933 | 417 | 2,622 | 1,274 | | EBIT-adjusted | 3,376 | 4,115 | 9,903 | 12,424 | - Key adjustments in Q3 2025 included **$1,592 million** for EV strategic realignment and **$300 million** for OnStar Smart Driver investigations and litigation[43](index=43&type=chunk)[44](index=44&type=chunk) [EPS-Diluted-Adjusted Reconciliation](index=16&type=section&id=EPS-Diluted-Adjusted%20Reconciliation) EPS-diluted-adjusted for Q3 2025 was **$2.80**, a slight decrease from **$2.96** in Q3 2024. The reconciliation includes adjustments and their tax effects, as well as a return from preferred shareholders in the nine-month period EPS-Diluted-Adjusted Reconciliation | Metric | Three Months Ended Sep 30, 2025 (Per Share) | Three Months Ended Sep 30, 2024 (Per Share) | Nine Months Ended Sep 30, 2025 (Per Share) | Nine Months Ended Sep 30, 2024 (Per Share) | | :-------------------------------- | :------------------------------------------ | :------------------------------------------ | :----------------------------------------- | :----------------------------------------- | | Diluted earnings per common share | $1.35 | $2.68 | $6.64 | $7.77 | | Adjustments | 2.01 | 0.37 | 2.67 | 1.11 | | Tax effect on adjustments | (0.56) | (0.08) | (0.62) | (0.25) | | Return from preferred shareholders | — | — | (0.60) | — | | EPS-diluted-adjusted | $2.80 | $2.96 | $8.09 | $8.63 | - The nine-month period for 2025 included a **$(593) million** return from preferred shareholders related to the redemption of Cruise preferred shares[51](index=51&type=chunk)[52](index=52&type=chunk) [ETR-Adjusted Reconciliation](index=16&type=section&id=ETR-Adjusted%20Reconciliation) The effective tax rate for Q3 2025 was **8.9%**, while the ETR-adjusted was **19.8%**. For the nine months ended September 30, 2025, the ETR-adjusted was **19.3%** ETR-Adjusted Reconciliation | Metric | Three Months Ended Sep 30, 2025 (Effective Tax Rate) | Three Months Ended Sep 30, 2024 (Effective Tax Rate) | Nine Months Ended Sep 30, 2025 (Effective Tax Rate) | Nine Months Ended Sep 30, 2024 (Effective Tax Rate) | | :-------------------------------- | :--------------------------------------------------- | :--------------------------------------------------- | :------------------------------------------------- | :------------------------------------------------- | | Effective tax rate | 8.9 % | 19.1 % | 18.0 % | 20.2 % | | ETR-adjusted | 19.8 % | 19.5 % | 19.3 % | 20.4 % | [Return on Equity (ROE) Calculation](index=16&type=section&id=Return%20on%20Equity%20%28ROE%29%20Calculation) ROE for the four quarters ended September 30, 2025, was **4.7%**, a significant decrease from **15.9%** in the prior year, primarily due to lower net income attributable to stockholders Return on Equity (ROE) Calculation | Metric | Four Quarters Ended Sep 30, 2025 ($B) | Four Quarters Ended Sep 30, 2024 ($B) | | :-------------------------------- | :------------------------------------ | :------------------------------------ | | Net income attributable to stockholders | $3.0 | $11.1 | | Average equity | $65.2 | $69.5 | | ROE | 4.7 % | 15.9 % | [ROIC-Adjusted Calculation](index=17&type=section&id=ROIC-Adjusted%20Calculation) ROIC-adjusted for the four quarters ended September 30, 2025, was **18.5%**, slightly down from **19.4%** in the prior year, reflecting a decrease in EBIT-adjusted ROIC-Adjusted Calculation | Metric | Four Quarters Ended Sep 30, 2025 ($B) | Four Quarters Ended Sep 30, 2024 ($B) | | :-------------------------------- | :------------------------------------ | :------------------------------------ | | EBIT-adjusted | $12.4 | $14.2 | | ROIC-adjusted average net assets | $67.1 | $73.0 | | ROIC-adjusted | 18.5 % | 19.4 % | [Adjusted Automotive Free Cash Flow Reconciliation](index=17&type=section&id=Adjusted%20Automotive%20Free%20Cash%20Flow%20Reconciliation) Adjusted automotive free cash flow for Q3 2025 was **$4.2 billion**, down from **$5.8 billion** in Q3 2024. Year-to-date, it was **$7.8 billion**, a decrease from **$12.2 billion** in the prior year Adjusted Automotive Free Cash Flow Reconciliation | Metric | Three Months Ended Sep 30, 2025 ($M) | Three Months Ended Sep 30, 2024 ($M) | Nine Months Ended Sep 30, 2025 ($M) | Nine Months Ended Sep 30, 2024 ($M) | | :-------------------------------- | :----------------------------------- | :----------------------------------- | :---------------------------------- | :---------------------------------- | | Net automotive cash provided by operating activities | 6,070 | 7,863 | 13,127 | 19,174 | | Less: Capital expenditures | (2,113) | (2,229) | (6,054) | (7,495) | | Add: Buick dealer strategy | 243 | 100 | 708 | 376 | | Add: Restructuring actions | — | 74 | 139 | 74 | | Add: GMI plant wind down | — | 26 | 12 | 35 | | Add: China restructuring actions | 1 | — | 10 | — | | Less: Ultium strategic realignment | — | — | (103) | — | | Add: Employee separation costs | — | — | — | 58 | | Adjusted automotive free cash flow | $4,201 | $5,834 | $7,840 | $12,222 | [Vehicle Sales and Market Share](index=18&type=section&id=Vehicle%20Sales%20and%20Market%20Share) This section details General Motors' wholesale and total vehicle sales, including market share performance across various regions [Wholesale Vehicle Sales](index=18&type=section&id=Wholesale%20Vehicle%20Sales) Total wholesale vehicle sales for Q3 2025 were **977 thousand units**, a **5.4% decrease** from Q3 2024. Year-to-date wholesale sales also decreased by **3.7% to 2,862 thousand units** Wholesale Vehicle Sales | Region | Three Months Ended Sep 30, 2025 (Thousands) | Three Months Ended Sep 30, 2024 (Thousands) | Nine Months Ended Sep 30, 2025 (Thousands) | Nine Months Ended Sep 30, 2024 (Thousands) | | :-------------------------------- | :------------------------------------------ | :------------------------------------------ | :----------------------------------------- | :----------------------------------------- | | GMNA | 840 | 893 | 2,516 | 2,588 | | GMI | 137 | 140 | 346 | 383 | | Total | 977 | 1,033 | 2,862 | 2,971 | - **26.4%** of GM's wholesale vehicle sales volume in the nine months ended September 30, 2025, was generated outside the U.S.[60](index=60&type=chunk) [Total Vehicle Sales and Market Share by Region](index=19&type=section&id=Total%20Vehicle%20Sales%20and%20Market%20Share%20by%20Region) GM's total worldwide vehicle sales increased to **1,564 thousand units** in Q3 2025, up from **1,477 thousand** in Q3 2024, with market share increasing to **6.9%**. US market share increased to **17.0%** in Q3 2025, and China sales also saw an increase Total Vehicle Sales and Market Share by Region **Three Months Ended September 30, 2025:** | Region | Industry (Thousands) | GM (Thousands) | Market Share | | :-------------------------------- | :------------------- | :------------- | :----------- | | Total North America | 5,202 | 837 | 16.1 % | | Total Asia/Pacific, Middle East and Africa | 12,499 | 619 | 5.0 % | | Total South America | 1,166 | 107 | 9.2 % | | Total Worldwide | 22,751 | 1,564 | 6.9 % | | United States (Total) | 4,187 | 710 | 17.0 % | | China (Total) | 6,901 | 469 | 6.8 % | **Nine Months Ended September 30, 2025:** | Region | Industry (Thousands) | GM (Thousands) | Market Share | | :-------------------------------- | :------------------- | :------------- | :----------- | | Total North America | 15,523 | 2,534 | 16.3 % | | Total Asia/Pacific, Middle East and Africa | 35,903 | 1,729 | 4.8 % | | Total South America | 3,176 | 287 | 9.0 % | | Total Worldwide | 67,095 | 4,552 | 6.8 % | | United States (Total) | 12,516 | 2,150 | 17.2 % | | China (Total) | 19,299 | 1,359 | 7.0 % | [Fleet Sales and Capacity Utilization](index=19&type=section&id=Fleet%20Sales%20and%20Capacity%20Utilization) Total fleet sales increased to **254 thousand units** in Q3 2025, representing **16.3%** of total vehicle sales. North America capacity two-shift utilization improved to **118.3%** in Q3 2025, up from **109.1%** in Q3 2024 Fleet Sales and Capacity Utilization | Metric | Three Months Ended Sep 30, 2025 (Thousands) | Three Months Ended Sep 30, 2024 (Thousands) | Nine Months Ended Sep 30, 2025 (Thousands) | Nine Months Ended Sep 30, 2024 (Thousands) | | :-------------------------------- | :------------------------------------------ | :------------------------------------------ | :----------------------------------------- | :----------------------------------------- | | Total fleet sales | 254 | 234 | 767 | 721 | | Fleet sales as a percentage of total vehicle sales | 16.3 % | 15.9 % | 16.9 % | 17.0 % | | North America capacity two-shift utilization | 118.3 % | 109.1 % | 115.1 % | 106.4 % | [Company Information & Disclosures](index=3&type=section&id=Company%20Information%20%26%20Disclosures) This section provides an overview of General Motors' business, contact information, and disclosures regarding forward-looking statements [Company Overview](index=3&type=section&id=Company%20Overview) General Motors is a global transportation company focused on building safer, smarter, and lower-emission cars, trucks, and SUVs, offering a broad portfolio of gasoline-powered and electric vehicles under its Buick, Cadillac, Chevrolet, and GMC brands - GM is driving the future of transportation with advanced technology for safer, smarter, and lower emission vehicles[8](index=8&type=chunk) - GM's brands include Buick, Cadillac, Chevrolet, and GMC, offering both gasoline-powered vehicles and a wide range of EVs[8](index=8&type=chunk) [Contacts and Forward-Looking Statements](index=3&type=section&id=Contacts%20and%20Forward-Looking%20Statements) This section provides contact information for GM Communications and Investor Relations, along with a cautionary note regarding forward-looking statements, highlighting the inherent risks and uncertainties that could cause actual results to differ materially from projections - Contact information for GM Communications (Jim Cain, David Caldwell) and GM Investor Relations (Ashish Kohli, CFA) is provided[9](index=9&type=chunk) - The press release includes forward-looking statements based on current judgment and assumptions, but actual results may differ materially due to various factors described in SEC filings[9](index=9&type=chunk) - Readers are cautioned not to place undue reliance on forward-looking statements, and GM undertakes no obligation to update them[9](index=9&type=chunk)

CNBC’s Phil LeBeau and General Motors CFO Paul Jacobson join 'Squawk Box' to discuss the company's quarterly earnings results, impact of tariffs, state of the company's EV business, production outlook, and more. ...

Core Viewpoint - General Motors has demonstrated resilience in its operations despite challenges from tariffs, raising its guidance for the fourth quarter while managing to maintain a strong vehicle portfolio and market share [2][4][16]. Financial Performance - The company reported better-than-expected results on both revenue and earnings, although profits were lower than the same quarter last year due to tariff impacts [2][4]. - Tariff costs are estimated to be between $3.5 billion and $4.5 billion for the full year, which is a reduction from previous expectations [5][6]. Tariff Impact and Mitigation - Recent announcements from the Trump administration regarding tariff offsets are expected to help maintain competitiveness in U.S. manufacturing, with a 3.75% MSRP offset remaining in place [6][7]. - The company is focused on overcoming tariff challenges and aims to return to an 8% to 10% market margin in North America [7]. Electric Vehicle (EV) Strategy - General Motors took a $1.6 billion impairment charge related to its EV business, indicating that while 40% of EVs were variable profit positive, they did not achieve EBIT profitability in the third quarter [8][10]. - The company is reevaluating its EV capacity in light of lower demand forecasts, particularly with the cessation of the $7,500 tax credit, which has led to a restructuring charge [9][14]. Production and Market Share - The internal combustion engine (ICE) vehicle segment is performing well, with over 17% market share, the highest for a third quarter in recent years [16]. - The company plans to invest $4 billion in capital over the next few years to expand production capacity in the U.S. while maintaining capital discipline [17][18].

格隆汇10月21日｜通用汽车盘前拉升涨6%，公司预计本财年调整后每股收益9.75美元至10.50美元，此 前预计8.25美元至10美元。 ...

格隆汇10月21日｜通用汽车盘前涨近9%，公司预计本财年调整后每股收益9.75美元至10.50美元，此前 预计8.25美元至10美元。 ...

Core Viewpoint - General Motors has raised its financial outlook for the year while slightly reducing the expected impact from tariffs, amidst a challenging electric vehicle market [1][2]. Financial Outlook - The company now anticipates its annual adjusted core profit to be between $12.0 billion and $13.0 billion, an increase from the previous estimate of $10.0 billion to $12.5 billion [2]. - The updated impact of tariffs on GM's bottom line is now projected to be between $3.5 billion and $4.5 billion, down from the earlier estimate of $4 billion to $5 billion [2]. Market Reaction - Shares of General Motors rose approximately 8% in premarket trading, positively influencing shares of Ford and Stellantis, which increased nearly 2% each [3]. Earnings Performance - GM's quarterly adjusted earnings per share fell to $2.80, surpassing LSEG analysts' expectations of $2.31 [4]. - The company incurred a $1.6 billion charge related to changes in its electric vehicle strategy, and revenue for the quarter ended September slightly decreased to $48.6 billion compared to the previous year [4][5]. Sales and Market Trends - U.S. car sales remained robust, increasing by 6% in the third quarter despite tariff uncertainties [5]. - American consumers have continued to choose more expensive models and added features, even as automakers have largely refrained from raising sticker prices to counteract tariff costs [5]. Tariff Relief - GM plans to mitigate 35% of its anticipated tariff impact, with relief expected for U.S. automakers following a new order from President Trump that expands credits for U.S. auto production [6][7]. - The MSRP offset program is anticipated to enhance the competitiveness of U.S.-produced vehicles over the next five years [7].

false Trading Ideas Stock Market Crypto Forex Economic Commodity Video World Dow futures trade in red on Tuesday: 5 things to know before Wall Street opens Written by Devesh KumarDevesh K. Devesh Kumar Sub-Editor Devesh Kumar Sub-Editor Devesh is a sub-editor at Invezz, where he writes and edits news reports. He is dedicated to clear communication, collaborative teamwork, and delivering practical financial insights. read more. Written onOct 21, 2025 Reading time 3 minutes Dow futures slipped around 70 point ...

General Motors anticipates a smaller impact from tariffs and is boosting its full-year adjusted earnings forecast as its third-quarter performance topped Wall Street's expectations. Shares surged more than 9% before the market open on Tuesday. The automaker reduced its expectations for the full-year gross impact from tariffs to a range of $3.5 billion to $4.5 billion. Its previous guidance was $4 billion to $5 billion. GM anticipates its tariff mitigation actions will offset about 35% of the impact due t ...