General Motors Co has recently released its 10-Q report. The company designs, builds, and sells trucks, crossovers, cars, and automobile parts worldwide through GM North America, GM International, and GM Financial. Its brands include Buick, Cadillac, Chevrolet, GMC, Baojun, and Wuling, and it also provides automotive financing, software-enabled services, subscriptions, and dealer-based after-sale services such as maintenance, repairs, accessories, and extended warranties.
In Item 2, management said the company is pursuing a strategy centered on internal combustion engine vehicles, electric vehicles, hybrids, personal AV technology, software-enabled services, and other new businesses, while continuing to emphasize profitable trucks and SUVs. GM said its 2025 EV strategic realignment produced $7.9 billion of charges in GMNA during 2025, and an additional $3.6 billion of net charges in the nine months ended September 30, 2026, including $2.5 billion tied to supply-base and joint-venture negotiations, $1.3 billion of losses on supply agreements, and $0.5 billion related to compliance assets, partly offset by $0.7 billion of recoveries under a cost-sharing arrangement. Of the 2026 charges, $2.7 billion will have a cash impact when paid, and GM said it had incurred $4.2 billion of cash outflows related to these charges in the nine-month period.
GM also quantified tariff effects, saying it recorded net favorable adjustments of $0.7 billion in the nine months ended September 30, 2026, mainly from previously charged IEEPA tariffs that are refundable. Based on the current tariff environment, it estimated EBIT-adjusted impact of $2.5 billion to $3.5 billion for the year ending December 31, 2026. The company said its compliance-related assets stood at $0.7 billion at September 30, 2026.
For 2026, GM projected net income attributable to stockholders of $8.9 billion to $9.5 billion, EBIT-adjusted of $14.5 billion to $15.5 billion, diluted EPS of $9.72 to $10.72, and adjusted diluted EPS of $12.75 to $13.75. In North America, industry sales were 15.3 million units in the nine months ended September 30, 2026, down 1.7%, while U.S. industry sales fell 2.3% to 12.3 million units. GM’s U.S. vehicle sales were 2.0 million units, giving it a 16.4% market share, down 0.7 percentage points from a year earlier.
In China, industry sales fell 18.2% to 15.8 million units, while GM’s sales were 1.1 million units for a 6.7% share, down 0.3 percentage points. GM said its Automotive China joint ventures generated $0.3 billion of equity income in the nine months, including $0.1 billion related to the restructuring of SAIC General Motors Corp. Outside China, industry sales rose 4.8% to 21.2 million units, while GM’s sales were 0.7 million units for a 3.1% share.
GM’s wholesale vehicle sales totaled 2.917 million units in the nine months ended September 30, 2026, up from 2.862 million a year earlier. North America accounted for 2.511 million units, and international operations accounted for 407,000 units. Fleet sales were 853,000 units in the first nine months of 2026, equal to 20.7% of total vehicle sales, compared with 775,000 units and 17.0% a year earlier. The market has reacted to these announcements by moving the company's shares -1.44% to a price of $82.75. Check out the company's full 10-Q submission here.
