GM’s core profit rises 22% on strong US truck sales
General Motors reported a 22% increase in first-quarter core profit, driven by strong U.S. truck sales and expected tariff refunds, while raising its full-year earnings forecast despite ongoing inflation and geopolitical risks. The automaker's North American profit margins improved even as overall vehicle sales declined, supported by higher pricing and cost savings from relaxed emissions rules and reduced EV spending. GM also cited improved performance in China and other international markets, though it continues to face challenges from higher raw material costs and weaker demand for electric vehicles.
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By Kalea Hall April 28 (Reuters) - General Motors posted on Tuesday a 22% rise in first-quarter core profit and lifted its full-year earnings forecast, buoyed by a resilient U.S. car market and an expected tariff refund. The largest U.S. automaker by sales comfortably beat analysts’ profit estimates while navigating a fast-changing geopolitical and regulatory backdrop that is reshaping the industry. U.S. tariffs and higher energy costs linked to the Iran war are weighing on results, even as looser U.S. pollution and fuel-economy rules introduced last year under President Trump are lifting margins. Pickup-truck sales, a key profit driver, remained strong despite higher gas prices. GM warned, though, that inflation driven by the war would continue to pressure the business.
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