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GM and Stellantis Lose Billions as Tariffs Reshape U.S. Auto Industry
President Donald Trump’s 25% tariffs on imported vehicles and parts have sent shockwaves through the U.S. auto industry.
GM’s $1.1 billion tariff hit bolsters mounting evidence that Americans are the ones footing the bill for Trump’s import taxes
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.
Tariffs hit U.S. companies hard, but businesses absorb them for now
Automakers might increase prices moving forward, according to a report from the intelligence firm AlixPartners.
Tariffs Poke Their Heads Up With $1.1 Billion Profit Impact For GM
The impacts will be felt more broadly in many industries, and the question is when the choice becomes to preserve profits by raising prices.
Wall Street ticks up to another record as GM and others show how tariffs are impacting them
General Motors and other U.S. companies give updates on how much President Trump’s tariffs are impacting them.
GM Stock Falls After $1.1 Billion Hit From Tariffs
GM reports a second-quarter operating profit of $3 billion and earnings per share of $2.53 from sales of $47.1 billion.
Trump Just Hammered US Cars With Tariffs - Toyota Says Thanks
Toyota's stock surged 8% after the Trump administration's new tariff policy was announced, putting American automakers like Ford, GM, and Tesla at a disadvantage. This could backfire on the America First policy and investors should take note.
GM warns of more tariff impacts as earnings slip
GM said earnings in the second quarter reflect a more than $1 billion hit from President Donald Trump's tariffs.
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