GM posts strong Q1 results, but will reassess expectations for 2025 due to auto tariffs

General Motors posted strong financial results for its first quarter Tuesday but says it will reassess its expectations for due to auto tariffs The automaker is pushing back its conference call to discuss its guidance and quarterly results until Thursday so that it can assess prospective tariff changes GM stated that its initial full-year financial forecast doesn t contemplate the possible impact of tariffs In January the company stated that it anticipated adjusted earnings in a range of to per share Late Monday The Wall Street Journal stated that President Donald Trump will possibly dial back automotive tariffs with anonymous sources claiming that he ll stop duties on foreign-made cars from piling on top of other tariffs he implemented and easing chosen levies on foreign parts used to make cars in the U S White House press secretary Karoline Leavitt reported Tuesday morning that Trump would sign an executive order relaxing a few of his tariffs on cars and auto parts though Treasury Secretary Scott Bessent explained the goal remained enabling automakers to create more domestic manufacturing jobs Bessent added that Trump is concerned with jobs of the future not of the past Trump will be holding a rally in Michigan the heart of the nation s auto industry on Tuesday Michigan has been jolted by his steep bargain tariffs and combative attitude toward Canada Trump is making an afternoon visit to Selfridge Air National Guard Base for an announcement alongside Democratic Michigan Gov Gretchen Whitmer He s expected to speak at a rally at Macomb District College north of Detroit Michigan was one of the battleground states Trump flipped from the Democratic column in his vote But it s also been deeply affected by tariffs on imported cars and auto parts Michigan s unemployment rate has risen for three straight months including jumping from March to reach according to state facts That s among the highest in the nation far exceeding the national average of Industry groups have urged the White House to scrap plans for tariffs on imported auto parts warning that doing so would raise prices on cars and could trigger layoffs and bankruptcy General Motors earned billion or per share for the three months ended March A year earlier it earned billion or per share Removing one-time charges and benefits GM earned per share topping the per share that Wall Street had expected according to a survey by FactSet Revenue climbed to billion from billion GM s stock declined about in morning trading Source