General Motors beats estimates with FY figures, warns of potential tariff impacts in FY25

(Sharecast News) - Automotive giant General Motors beat Wall Street estimates on both the top and bottom lines but warned that headwinds from the Trump administration could weigh on future profits. General Motors reported a FY adjusted net income of $12.1bn on Tuesday, coming in ahead of its 2022 record of $11.0bn, and said net income for the year came to $6.0bn, weighed down by a Q4 loss due to Chinese restructuring costs and plans to discontinue its fleet of driverless robotaxis.

However, despite expecting even better operating results in FY25, GM cautioned that tariffs on imports from Canada and Mexico, which provide parts to its US plants, could disrupt its supply chain and increase the cost of assembling cars and trucks.

As of 1500 GMT, General Motors shares were down 8.21% at $50.41 each.











Reporting by Iain Gilbert at Sharecast.com