Mary Barra reports that General Motors exceeded second-quarter profit expectations despite a decline in total vehicle sales.
Mary Barra reported that General Motors surpassed second-quarter profit expectations on Tuesday, posting adjusted earnings per share of $3.57 against a consensus estimate of $3.19. While the automaker saw a 4.2% decline in U.S. vehicle sales compared to last year, it maintained its position as the nation's top-selling automaker. The company benefited from strong demand for pickups and SUVs, which helped offset a sharp pullback in electric vehicle sales following the expiration of federal tax credits. The administration's tariff offsets are also helping to bolster the bottom line as costs begin to ease. Consequently, the company raised its full-year guidance for adjusted EBIT and earnings per share. CFO Paul Jacobson noted that while vehicle affordability remains a challenge for consumers due to high transaction prices, the company successfully maintained margins without heavy discounting. General Motors expects electric vehicle sales to rebound as it continues to improve operating efficiency and reduce warranty costs.