General Motors (GM) achieved record electric vehicle sales this quarter despite a decline in operating profits amid rising tariffs.
Record Electric Vehicle Sales
General Motors reaffirmed its commitment to electric vehicles after record sales this quarter, despite increased tariffs. This year, the company doubled its electric vehicle sales compared to the same period last year.
Impact of Tariffs on Profit
Despite record sales, GM reported a $3 billion drop in operating profits in Q2. The company also noted potential exposure of up to $5 billion due to tariffs from the Trump administration, highlighting the challenges it is facing.
Future of General Motors in Electric Vehicles
GM is confidently looking to the future, maintaining its guidance for adjusted operating profit in 2025 to be between $10 billion and $12.5 billion. The company's focus is on establishing a more cost-effective battery supply chain in North America, which is expected to drive long-term profits.
General Motors continues to demonstrate strong sales results in the electric vehicle segment despite external economic challenges, indicating its strategic direction for the future.
