GM Raises 2025 Outlook, Cites EV Tax Credit Loss

General Motors reported third-quarter profit of $1.297 billion ($1.35 per share) and beat expectations with adjusted EPS of $2.80 on revenue of about $48.6 billion. The company took a $1.6 billion charge after reshaping its EV strategy amid a weakening EV market following the loss of a $7,500 federal tax credit and looser emissions rules. GM raised its 2025 adjusted core profit forecast to $12.0–$13.0 billion (from $10.0–$12.5 billion) and updated FY2025 adjusted EPS guidance to $9.75–$10.50 while narrowing GAAP EPS guidance to $8.30–$9.05. It trimmed its expected tariff hit to $3.5–$4.5 billion, said it plans to mitigate roughly 35% of its tariff exposure, and highlighted a White House MSRP offset program to help U.S.-produced vehicles compete. CEO Mary Barra warned additional EV-related charges may be needed but said cutting overcapacity should reduce EV losses by 2026 while the company leans on strong pickup and SUV demand to offset EV headwinds. The outlook boost sent shares higher in premarket trading and lifted peers.