GM profit shrinks after US$1.1 billion tariff hit

(Image: Getty)

Wed, 23 Jul 2025

By Christopher OttsGeneral Motors said Tuesday that new tariffs on imported cars and auto parts took a US$1.1 billion (NZ$1.8b) bite out of its bottom line. The company reported net income shrank 35% in the second quarter as President Trump’s automotive tariffs weighed on the company. GM, the largest automaker in the US by sales, had already lowered its earlier profit guidance for 2025. Now the company says greater impacts from tariffs are expected to hit the carmaker in the third quarter, though it is maintaining its profit gui...

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