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General Motors told investors on Tuesday that it took a $1.1 billion hit from tariffs last quarter. Stellantis, which makes Chrysler, Dodge and Jeep vehicles, told investors on Monday that it felt
Tariffs instituted by President Donald Trump have cost Detroit-based General Motors an estimated $1.1 billion in the second quarter of 2025, the automaker said Tuesday. GM says the costs largely contributed to a 21% drop in net income during the quarter, according to CNN.
Automakers might increase prices moving forward, according to a report from the intelligence firm AlixPartners.
GM is anticipating that the total impact of the tariffs in 2025 will be approximately $4 billion to $5 billion
Wall Street is hanging near its records following some mixed profit reports, as General Motors and other big U.S. companies give updates on how much President Donald Trump’s tariffs are hurting or helping them.
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.
General Motors said it expects the tariff impact to worsen in the third quarter, with a $4 to $5 billion hit to its bottom line.
General Motors has delivered a warning to corporate America, publishing second-quarter earnings that included a shocking impact from auto-industry tariffs on its bottom line.