Core Viewpoint - General Motors (GM) reported better-than-expected Q1 earnings but withdrew its 2025 guidance due to uncertainty regarding U.S. tariffs, leading to a stock price drop of over 3% in pre-market trading [1] Financial Performance - Q1 sales reached $44 billion, exceeding market expectations of $43.2 billion [1] - Operating profit was $3.5 billion, also above the anticipated $3.4 billion [1] - Earnings per share (EPS) stood at $2.78, surpassing the forecast of $2.68 [1] Impact of Tariffs - The strong Q1 performance was attributed to dealers increasing inventory ahead of potential tariffs from the Trump administration [1] - GM's CFO, Paul Jacobson, indicated that the previous guidance for 2025 EPS of $11-12 was no longer valid due to the lack of tariff impact consideration [1] - The company plans to reassess its capital expenditure in light of future tariff information [1] Analyst Conference and Government Actions - GM has postponed its analyst conference to May 1, where it will discuss the latest earnings and updated 2025 guidance based on new tariff details [2] - A White House official indicated that President Trump would take action to mitigate the impact of auto tariffs, which could positively affect GM [2] - Analyst Chris McNally noted that the government's preemptive actions regarding tariffs are a positive signal for the industry [2] Production and Lobbying Efforts - GM, along with other automakers, has been lobbying for more lenient tariff policies [3] - To mitigate the impact of tariffs on its truck business, GM has increased production at its Fort Wayne, Indiana pickup plant [3]