General Motors Company (GM) designs, builds, and sells trucks, crossovers, cars, and automobile parts, and provides software-enabled services and subscriptions worldwide . The company operates through segments such as GM North America (GMNA) and GM International (GMI), marketing vehicles under brands like Buick, Cadillac, Chevrolet, and GMC . GM is also investing in electric vehicles (EVs) and autonomous vehicles (AVs), with a focus on expanding their EV portfolio through their Ultium architecture . Additionally, GM offers automotive financing services through its GM Financial segment, contributing significantly to its revenue and profitability .
- GM North America (GMNA) - Designs, builds, and sells vehicles under the Buick, Cadillac, Chevrolet, and GMC brands in North America.
- GM International (GMI) - Markets vehicles under the Buick, Cadillac, Chevrolet, Baojun, and Wuling brands in international markets, primarily in China.
- GM Financial - Provides automotive financing services, significantly contributing to GM's revenue and profitability.
- Electric Vehicles (EVs) - Invests in and expands the EV portfolio using the Ultium architecture, aiming for a significant increase in production capacity.
- Cruise - Develops and commercializes autonomous vehicle technology.
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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Mary Barra ExecutiveBoard | Chair and Chief Executive Officer (CEO) | Board Member at The Walt Disney Company | Mary Barra has been CEO since 2014 and Chair since 2016. She has led GM's transformation toward electric and autonomous vehicles and spearheaded cultural and operational changes. | |
Craig Glidden Executive | EVP and Strategic Advisor; President of Cruise | None | Joined GM in 2015 as General Counsel. Now serves as Strategic Advisor and President of GM Cruise Holdings LLC, focusing on autonomous vehicle operations. | |
Grant Dixton Executive | EVP, Chief Legal and Public Policy Officer | None | Joined GM in 2024, previously served as Chief Legal Officer at Activision Blizzard and General Counsel at Boeing. Oversees GM's global legal, compliance, and public policy functions. | |
Marc Whitten Executive | CEO of Cruise | None | Appointed CEO of Cruise in 2024. Previously held leadership roles at Sonos, Amazon, Unity, and Microsoft. | |
Alfred F. Kelly, Jr. Board | Board Member | Board Chair at Mother Cabrini Health Foundation; Trustee at Boston College, Iona University, New York Presbyterian Hospital, and St. Joseph’s Seminary; Advisory Director at Berkshire Partners | Former CEO and Chairman of Visa Inc. Joined GM's Board in 2024, bringing expertise in financial services and technology. |
- Given the headwinds in China and the competitive environment, how specifically do you plan to make your Chinese joint ventures sustainable and profitable, and what restructuring actions are you considering?
- With the EV market becoming increasingly competitive, and considering your goal to make EVs profitable on an EBIT basis quickly, what are the main obstacles you foresee in achieving this, and how do you plan to overcome them?
- Can you elaborate on the rationale behind seeking external funding for Cruise when GM has sufficient capital, and how will this impact your control over Cruise's strategic direction?
- As you expect 2025 results to be in a similar range to 2024, can you provide more detail on the specific tailwinds and headwinds, such as the impact of cost inflation and pricing pressures, that underpin this outlook?
- With the anticipated decrease in adjusted EBIT in Q4 compared to Q3, can you break down the major factors contributing to this decline, and how do you plan to mitigate similar impacts in the future?
Research analysts who have asked questions during General Motors earnings calls.
Adam Jonas
Morgan Stanley
4 questions for GM
Dan Levy
Barclays PLC
4 questions for GM
Emmanuel Rosner
Wolfe Research
4 questions for GM
Joseph Spak
UBS Group AG
4 questions for GM
John Murphy
Bank of America
3 questions for GM
Ryan Brinkman
JPMorgan Chase & Co.
3 questions for GM
Chris McNally
Evercore ISI
2 questions for GM
Daniel Roeska
Bernstein Research
2 questions for GM
Itay Michaeli
TD Cowen
2 questions for GM
Mark Delaney
The Goldman Sachs Group, Inc.
2 questions for GM
Michael Ward
Citi Research
2 questions for GM
Tom Narayan
RBC Capital Markets
2 questions for GM
Edison Yu
Deutsche Bank
1 question for GM
Gautam Narayan
RBC Capital Markets
1 question for GM
James Picariello
BNP Paribas
1 question for GM
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
GM Cruise Holdings LLC | 2022 | GM acquired SoftBank's stake for $2.1 billion and added an extra $1.35 billion investment to increase its ownership to approximately 80%, enabling Cruise's inclusion on GM’s U.S. Federal consolidated income tax return and significant tax and liquidity adjustments. |
Recent press releases and 8-K filings for GM.
- H1 2025 sales of $14.5 billion, flat year-on-year (+2% at constant exchange rates) and EBITDA of $2.5 billion, up 24% (+29% CER) with margin expansion to 17.5%.
- Syngenta Crop Protection sales rose 3% to $6.4 billion (+7% CER), led by Biologicals growth in Europe, Asia and China, while Latin America and Brazil declined.
- Seeds sales increased 2% to $2.4 billion (+3% CER), driven by 14% growth in China and 10% in Brazil field crops.
- The Group expects stable sales and margins in H2 2025 amid crop protection market recovery.
- Over 25% of vehicles now transact above $60,000, up markedly since 2019.
- Households earning over $150,000 account for 14% of purchases for vehicles priced above $70,000, highlighting luxury‐segment strength.
- Average transaction price is near $49,000 and is projected to exceed $50,000 within a year.
- Despite April tariffs, the year‐to‐date sales pace remains at 16.1 million vehicles, though future demand hinges on USMCA decisions with Canada and Mexico.
- Affordability is the defining force in the U.S. auto market in 2025, driving consumers toward lower trims and prompting automakers to absorb tariffs or launch value-focused models to protect share.
- 40% of U.S. consumers say they would consider a Chinese-made vehicle, and 75% of dealers expect Chinese brands in the U.S. within a year, reflecting strong price sensitivity.
- U.S. EV sales hit 607,089 units in H1 2025 (+1.5% YoY) despite a 6.3% Q2 decline, with GM’s EV volume up 111% thanks to the affordable Chevrolet Equinox EV.
- Dealers forecast average profit margins of 4.7% in 2025 (up from 4.1% in 2023) by leveraging parts, service, finance, and used-vehicle revenues even as automakers face tariff pressures.
- Cleveland-Cliffs has signed fixed-price, up to three-year contracts to supply industry-standard sheet steel to General Motors and other U.S. automakers.
- The shift from one-year to multi-year agreements aims to stabilize steel costs amid tariffs that raised import levies from 25% to as high as 50%.
- Automakers are using these deals to hedge against inflationary pressures and mitigate the risk of higher vehicle production expenses due to steel tariffs.
- GM expects a $4–5 billion tariff headwind in 2025 but has a 30% offset plan, targeting $7.5–10 billion free cash flow this year.
- GM anticipates a US–Korea trade deal reducing tariffs from 25% to 15%, saving hundreds of millions in 2025, with Mexico and Canada deals pending and the administration committed to auto competitiveness.
- GM will invest an additional $4 billion to onshore US production, raising annual capacity by 2 million units, and has adjusted CapEx guidance to $10–12 billion annually.
- Regulatory changes have zeroed CAFE penalties (net immaterial for 2025, savings planned for 2026) and GHG credit treatment is under review, with GM viewing the net impact as accretive while pursuing EV cost reductions.
- GM’s China JV has returned to profitability and market-share gains for three straight quarters without new capital injections.
- GM is reviving its autonomous vehicle program by recruiting former Cruise employees and shifting focus from robotaxi services to personal-use self-driving cars.
- Under Sterling Anderson, ex-Tesla Autopilot chief, GM aims to develop vehicles capable of hands-free, eyes-free driving, initially with a human driver before progressing to full autonomy.
- The program uses lidar-equipped, human-driven vehicles on public roads to collect data and build simulation models critical for autonomous technology development.
- This initiative follows Cruise’s shutdown after safety incidents and regulatory challenges, which led GM to lay off about 1,000 employees and fire nine executives.
- Analysts from 31 brokerage firms rate GM as Outperform (average recommendation 2.5) with a mean price target of $56.71, indicating confidence in GM’s autonomous strategy.
- GM will import LFP batteries from China’s CATL for about two years, despite an 80% tariff on Chinese EV battery imports.
- The company estimates a $4 billion–$5 billion annual tariff impact, incurred a $1.1 billion net hit in Q2, and is working to mitigate 30% of these costs.
- Next-generation Chevrolet Bolt assembly begins late 2025 at GM’s Fairfax plant, with deliveries slated for 2026.
- Ultium Cells LLC, GM’s JV with LG Energy Solution, plans to start domestic LFP production in Tennessee by late 2027.
- Ford is also licensing CATL’s LFP technology, underscoring U.S. automakers’ reliance on Chinese battery suppliers amid trade tensions.
- General Motors signed a multi-year supply agreement with Noveon Magnetics to deliver sintered NdFeB rare earth magnets, with deliveries beginning July 2025 to support GM full-size SUVs and trucks.
- Noveon launched production immediately, positioning itself as the only operational U.S. manufacturer of sintered NdFeB magnets and providing a fully domestic, vertically integrated supply chain.
- The partnership aims to enhance supply chain resiliency, strengthen domestic manufacturing jobs, and support GM's internal combustion engine vehicle lines.
- Noveon's proprietary EcoFlux™ process enables greater resource efficiency, recycled material usage, and high-performance magnet production to meet commercial demand.
- Earnings growth in the S&P 500 is driven primarily by two sectors, with overall earnings up less than 1% outside technology and communication and about half the index reporting declines.
- Tariffs risk pushing GDP growth in H2 below 1%, potentially constraining both revenue and earnings growth for companies outside big-cap tech.
- The market’s forward 12-month P/E ratio stands at around 23×, near March 2000 highs and indicating stretched valuations.
- GM and LG Energy Solution will invest $2.3 billion to upgrade their Ultium Cells joint venture Spring Hill, TN plant to produce lithium iron phosphate (LFP) cells, targeting commercial production by late 2027.
- The upgrade complements production of nickel-cobalt-manganese-aluminum (NMCA) cells at the Spring Hill facility and at Warren, OH, supporting diversified battery chemistries for GM EVs.
- The new LFP cells are slated for the updated 2026 Chevrolet Bolt EV, with initial production in Kansas using imported cells before the Spring Hill conversion.
- This investment aligns with GM’s strategy to reduce battery costs and broaden its EV lineup amid evolving market demands, reflecting ongoing confidence in EV growth.