EBIT Adjusted

FY 2025

$10 billion to $12.5 billion " " "

$10 to $12.5 "

no change

EPS Diluted Adjusted

FY 2025

$8.25 to $10 per share "

$8.25 to $10 per share "

no change

Adjusted Automotive Free Cash Flow

FY 2025

$7.5 billion to $10 billion "

$7.5 to $10 "

no change

Capital Expenditures

FY 2025

$10 billion to $11 billion "

$10 to $11 "

no change

North American Pricing

FY 2025

Expected to be up 0.5% to 1% year-over-year "

0.5% to 1% increase "

no change

Gross Tariff Impact

FY 2025

$4 billion to $5 billion " "

$4 to $5 "

no change

Full Year Total U.S. SAAR

FY 2025

no prior guidance

Around 16 million, with H2 SAAR in the low to mid-15 million range "

no prior guidance

Tariff Management & Trade Policy Impact

In Q1 2025, GM discussed a $4–5 billion full‐year tariff impact and detailed mitigation strategies through production shifts and supplier collaboration. " " " " " " In Q4 2024 and Q3 2024, emphasis was on supply chain flexibility, preparedness, and operational adjustments to manage tariffs. " " " " "

In Q2 2025, GM reported a net tariff impact of approximately $1.1 billion for the quarter with clear mitigation efforts including strategic investments and manufacturing adjustments. " " " " " " "

Consistent focus on tariffs with increasingly detailed quantification and proactive mitigation measures, reinforcing their disciplined approach. " "

Pricing Discipline & Margin Pressures

Previous periods (Q1 2025, Q4 2024, and Q3 2024) emphasized strong pricing discipline through robust retail pricing, competitive incentive management, and highlighted margin challenges from tariffs, warranty, and fixed cost pressures. " " "

Q2 2025 maintained disciplined pricing with robust retail pricing metrics, while also noting margin pressure from tariffs and warranty expenses (including a $300 million increase). " " "

Stable pricing discipline but persistent margin pressures remain a recurring theme, with both periods showing consistent challenges balanced by effective pricing strategy. " "

EV Profitability & Technology Innovation

Across Q1 2025, Q4 2024, and Q3 2024, GM detailed challenges in achieving EV profitability, highlighted progress with cost‐reducing initiatives, increased scale benefits, and discussed advanced battery chemistry innovations as well as improvements in software and production efficiencies. " " " "

In Q2 2025, GM continues to face EV profitability headwinds due to reduced incentives but emphasizes cost reductions, efficiency improvements, and introduces new battery chemistries (LMR and LFP) along with second‐life battery applications to boost profitability. " " " " " "

Ongoing evolution—while the challenges persist, GM is increasingly leveraging technology innovation and new battery chemistries to drive efficiency and long‐term profitability. " "

Manufacturing Flexibility & Capacity Expansion

Q1 2025 focused on significant U.S. investments and capacity adjustments, Q4 2024 underscored production flexibility between ICE and EV models, and Q3 2024 emphasized balanced capacity and operational adaptability. " " "

Q2 2025 announced a $4 billion investment to expand U.S. capacity by 300,000 units and highlighted flexibility to shift between ICE and EV production based on demand. " " "

Positive and consistent emphasis on flexibility and capacity expansion, with continued strategic investments to adapt to market dynamics. " "

Autonomous Technologies & Connectivity

In Q1 2025 and Q4 2024, GM detailed strong Super Cruise expansion with impressive adoption metrics and advanced features; Q3 2024 had limited details on Super Cruise but noted broader progress in autonomy and partner integration. " " " "

In Q2 2025, GM expanded Super Cruise to 23 models, projected robust growth with over 600,000 users, and integrated enhanced connectivity services (including OnStar), supporting revenue growth from software services. " "

Accelerated adoption and innovation—the emphasis on Super Cruise and connectivity has grown, with clearer revenue projections and broader model integration compared to previous periods. " "

Regulatory & Policy Uncertainty

Q1 2025 emphasized high USMCA compliance and proactive supplier and policy engagement, while Q4 2024 and Q3 2024 discussed EV regulations (e.g. CARB requirements) and tariff-related uncertainties with an emphasis on adaptive production strategies. " " " " "

Q2 2025 highlighted recent EV legislation with minimal impact on 2025, continued robust tariff mitigation, and reinforced investments in U.S. manufacturing to hedge against regulatory risks. " " " " "

Consistent focus on managing uncertainty—the dialogue remains proactive, with ongoing strategies that balance regulatory challenges and opportunities, while sentiment remains cautiously optimistic. " "

Inventory Management & Warranty Cost Challenges

Q1 2025 reported healthy inventory levels (49 days for ICE, 78 days for EV) with modest warranty pressures; Q4 2024 and Q3 2024 noted low dealer inventory, eased EV inventory figures, but identified rising warranty costs due to inflation and quality issues. " " " " "

In Q2 2025, dealer inventory was further reduced (e.g. 526,000 units) while warranty expenses increased by $300 million—prompting proactive measures such as extended warranties and improved over‐the‐air updates to address issues. " " " "

Persistent challenges with mixed progress—while inventory discipline continues to improve, warranty cost challenges remain a notable headwind, leading to ongoing mitigation efforts. " "

Supplier Cost Risks & Compliance Issues

Q1 2025 emphasized supplier collaboration for USMCA compliance and cost management, while Q4 2024 discussed inflationary pressures and legal settlements impacting costs; Q3 2024 mentioned supply chain disruptions during hurricanes without extensive compliance details. " " " "

Q2 2025 discussed supplier-related tariff exposures and quality issues impacting warranty costs, along with efforts to bolster supplier quality and compliance to mitigate cost risks. " " "

Steady approach—the overall narrative remains consistent with proactive supplier engagement, although there is a sharper focus on managing inflationary pressures and tariff-related risks in the current period. " "

Capital Allocation & Shareholder Returns Strategy

Across Q1 2025, Q4 2024, and Q3 2024, GM detailed robust share repurchase programs, disciplined capital spending (maintaining near $10–$11 billion CapEx), strong cash generation, and consistent dividend payments. " " " "

In Q2 2025, GM reaffirmed investment in manufacturing (including significant capacity-expanding investments), executed share repurchases and debt issuance, and maintained dividend payments (e.g. $350 million). " " " "

Consistently disciplined—the focus on balancing reinvestment in growth with returning capital to shareholders remains unchanged, underscoring financial stability and shareholder commitment. " "

Chinese Market Overcapacity & Global Competition

In Q4 2024 and Q3 2024, GM discussed challenges in China with overcapacity, competitive pressures from domestic players, and the need for restructuring, while also addressing global competitive dynamics (in Europe and other regions). " " " " " Q1 2025 provided limited details, focusing mainly on restructuring and new product strategies in China. "

In Q2 2025, GM highlighted positive market share gains in China for Cadillac and Buick amid restructuring efforts, and discussed opportunities in Europe, South America, and the Middle East despite ongoing competitive pressures. "

Mixed sentiment with gradual improvement—while global competitive pressures persist, GM shows signs of market share gains and a measured, strategic approach in the Chinese market. " "

GM Financial Credit Performance

Q1 2025, Q4 2024, and Q3 2024 consistently reported strong credit performance with Q1 and Q4 EBT adjusted around $700 million, stable dividend payments, and a robust full-year outlook, supported by solid underwriting and portfolio quality. " " "

In Q2 2025, GM Financial delivered a healthy performance with Q2 EBT adjusted of $700 million and a $350 million dividend, aligning with its full-year guidance of $2.5–$3 billion. "

Steady and healthy performance—GM Financial’s credit results have remained consistent across periods, reflecting stable consumer demand and sound portfolio management. " "