GM results top estimates as it raises some projections

Shares of the big US automaker surged in pre-market trading after it reported profits of $1.3 billion in the third quarter, down 56.6 percent following costs connected to writing down electric vehicle (EV) investments.

Revenues stood at $48.6 billion, down 0.3 percent from the prior year.

GM now sees its 2025 tariff cost hit at between $3.5 billion-$4.5 billion, down $500 million from an earlier forecast.

GM Chief Executive Mary Barra highlighted the company's additional investments in US car capacity following tariffs imposed by the Trump administration, pointing to $4 billion in capital investments in the next two years in the states of Tennessee, Kansas and Michigan.

On EVs, Trump's moves to eliminate consumer tax credits and ease fuel economy regulations means "near-term EV adoption will be lower than planned," Barra said in a letter to shareholders that pointed to reduced investment in the sector.

"By acting swiftly and decisively to address overcapacity, we expect to reduce EV losses in 2026 and beyond," Barra said.

GM's results showed higher deliveries in North America, although operating profits fell compared with the prior year due to tariff costs and expenses tied to vehicle warranties and recalls.

The company also reported another quarter of profitability in China where it recently restructured operations and where deliveries also rose.

The company projected full-year adjusted profits of between $12 billion and $13 billion, up from the prior range of $10-$12.5 billion. That outlook includes higher North American pricing and "consistent" performance in international divisions, according to an earnings slide presentation.

Shares of GM surged 9.0 percent in pre-market trading.