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GM profit hurt by over $1B in tariffs — and shares tumble as impact expected to worsen
GM CEO Mary Barra hasn’t ruled out raising car prices, however, and has said the company will stay competitive.
GM: Tariffs Cost Automaker $1.1 Billion Last Quarter
The American auto manufacturer’s net income fell by 35%, the company said in its second quarter earnings call.
Tariffs hit U.S. companies hard, but businesses absorb them for now
General Motors said tariffs slashed its second-quarter income by more than $1 billion, and other companies pointed to import ...
Car makers are feeling tariff pain: GM is the 2nd company to take a hit to profits
The American automaker reported that tariffs cost them $1.1 billion and reduced the company's profit margin from 9% to 6.1%.
GM reports $1.1B hit from tariffs as automakers deal with price pressures
Automakers are starting to report the impacts of President Trump's tariffs, with GM telling investors it took a $1.1 billion ...