Meanwhile, we were discussing this earlier, uh, Ford re-examining its EV strategy in a big way. The company is going to take a multi-billion dollar charge. Philippo joins us with the latest.We were batting it around. I want to hear your take on where things are right now, and then we'll get into it all. >> Well, where they are is the company is admitting that its previous strategy, it wasn't working.Was it a complete failure. No. But it was definitely not succeeding.Nowhere close to profitable. When you loo ...

Core Viewpoint - General Motors (GM) has lowered its expectations for tariff impacts while raising its full-year profit guidance, planning to pass cost pressures onto consumers through price increases [1][5]. Financial Performance - GM reported an adjusted EBIT of $3.4 billion for Q3, a year-over-year decline of 18%, but above the analyst average expectation of $2.7 billion, with revenue remaining stable at $49 billion [1][5]. - The company has adjusted its full-year adjusted operating profit forecast to between $12 billion and $13 billion, up from the previous estimate of $10 billion to $12.5 billion [1][5]. Tariff Impact and Strategy - The expected impact of U.S. tariffs has been reduced from $5 billion to $4.5 billion, primarily due to tariff relief measures announced by the Trump administration for the automotive industry [4][5]. - GM plans to implement a price increase of up to 1% for vehicles in North America to help transfer more cost burden to consumers [1][5]. Electric Vehicle Strategy - GM is reassessing its electric vehicle (EV) production capacity and manufacturing strategy in light of a slowdown in EV adoption rates [6]. - The company warned of a $1.6 billion charge related to the reduction of EV production capacity due to the cancellation of the electric vehicle purchase tax credit [6]. - Despite the challenges, GM's EV sales doubled to a record 66,501 units in the last quarter, driven by consumer demand before the tax credit expiration [6].